The Commodification of Wisdom

Overview & Synopsis

Back when markets hinged on local contacts, product standardization wasn't a concern. When higher education was thought to be mainly about educating citizens, standardization wasn't much of a concern, either. Standardization has come later to higher education than to other commodities markets, but it has arrived. As with other commodities, unit cost matters, as do how "goods" are produced, measured, and sold. The author of this "point of view" piece asks whether we have arrived at a point in higher education where we will see increasing divergence between degrees meant for the masses and those for the elites, and states that when education turns into a commodity, it may change not just in quality, but also in kind.