A great article, but the author is downplaying the severity of the issue. The way we approve of education institutions is through accreditation reviews. The explicit purpose of this review is that the institution being evaluated functions like those of its peers. It is the reason that the job market has gone through several systemic changes in the last fifty years and the education system has not. Having had the privilege of knowing some of the executives at very powerful institutions who have tried to change this, I can tell you that decades of concerted effort have made microscopic dents. The accreditation process is the enemy of innovation in education.
