By Arnold Kling
In a polemic I wrote against academic tastes, I raise the question of why top universities remain successful. I suggest,
The nation’s top-tier colleges benefit from network and lock-in effects. No single Ivy League undergraduate has the incentive to attend a start-up college, unless a large number do so simultaneously. In many industries in our economy, a fresh new player with a bright idea can make inroads into the market. The academy is highly insulated from that sort of competition.
For Discussion. How does the rate of turnover among top educational institutions compare to the rate of turnover among top corporations?