Is College about Learning or Selling You Expensive Credentials?

According to many on the American left, the “elitist” is a right-wing bogeyman sustained by the mendacious organs of the actual elite — the moneyed one — and by the reactionary reflexes of an anti-intellectual public. Working-class whites, we’re told, vote in the interests of billionaires on the mistaken assumption that culture, not economics, is the main political battlefield, and that godless eggheads, not greedy businessmen, are their true class enemies. The 1-percenters bankrolling the Tea Party thereby deflect the attention of “bitter clingers” away from the wealthy and toward the clubby arrogance of the other 1 percent — the fraction of American students who graduate each year from the top tier of colleges.The eggheads make sensible targets. Over the last thirty years, the university has replaced the labor union as the most important institution, after the corporation, in American political and economic life. As union jobs have disappeared, participation in the labor force, the political system, and cultural affairs is increasingly regulated by professional guilds that require their members to spend the best years of life paying exorbitant tolls and kissing patrician rings. Whatever modest benefits accreditation offers in signaling attainment of skills, as a ranking mechanism it’s zero-sum: the result is to enrich the accreditors and to discredit those who lack equivalent credentials.Jean Baudrillard once suggested an important correction to classical Marxism: exchange value is not, as Marx had it, a distortion of a commodity’s underlying use value; use value, instead, is a fiction created by exchange value. In the same way, systems of accreditation do not assess merit; merit is a fiction created by systems of accreditation. Like the market for skin care products, the market for credentials is inexhaustible: as the bachelor’s degree becomes democratized, the master’s degree becomes mandatory for advancement. Our elaborate, expensive system of higher education is first and foremost a system of stratification, and only secondly — and very dimly — a system for imparting knowledge.The original universities in the Western world organized themselves as guilds, either of students, as in Bologna, or of masters, as in Paris. From the first, their chief mission was to produce not learning but graduates, with teaching subordinated to the process of certification — much as artisans would impose long and wasteful periods of apprenticeship, under the guise of “training,” to keep their numbers scarce and their services expensive. For the contemporary bachelor or master or doctor of this or that, as for the Ming-era scholar–bureaucrat or the medieval European guildsman, income and social position are acquired through affiliation with a cartel. Those who want to join have to pay to play, and many never recover from the entry fee.Of course, one man’s burden is another man’s opportunity. Student debt in the United States now exceeds $1 trillion. Like cigarette duties or state lotteries, debt-financed accreditation functions as a tax on the poor. But whereas sin taxes at least subsidize social spending, the “graduation tax” is doubly regressive, transferring funds from the young and poor to the old and affluent. The accreditors do well, and the creditors do even better. Student-loan asset-backed securities are far safer than their more famous cousins in the mortgage market: the government guarantees most of the liability, and, crucially, student loans cannot be erased by declaring bankruptcy. Although America’s college graduates are already late on paying nearly $300 billion in loans, they don’t have the option of walking away from these debts, even if their careers have been effectively transformed into underwater assets.As the credentialism compulsion seeps down the socioeconomic ladder, universities jack up fees and taxi drivers hire $200-an-hour SAT tutors for their children. The collective impact may be ruinous, but for individuals the outlays seem justified. As a consequence, college tuitions are nowhere near their limit; as long as access to the workforce is controlled by the bachelor’s degree, students will pay more and more. Read more at N+1