Given the inefficiencies (and the general cronyism) in colleges today I can’t see how the system continues as it is for all that much longer. “College” is an industry that is primed for disruption. A classic government inflated (via easy student loans) bubble that will pop.
I hope it hurries up. I have kids going to college in a few years and I’d like prices to fall more in line with reality – soon.
Watch out though. Once the higher education bubble bursts there will be lots of people looking for taxpayer bailouts. First in line will likely be students themselves saddled with debt they took on willingly before the university system went south.
Christensen is known for coining the theory of disruptive innovation in his 1997 book, “The Innovator’s Dilemma.” Since then, he has applied his theory of disruption to a wide range of industries, including education.
In his recent book, “The Innovative University,” Christensen and co-author Henry Eyring analyze the future of traditional universities, and conclude that online education will become a more cost-effective way for students to receive an education, effectively undermining the business models of traditional institutions and running them out of business.