Economist Michael D. Smith says universities are scrambling to protect a status quo that deserves to die. He tells Steve why the current system is unsustainable, and what’s at stake if nothing changes. RESOURCES:The Abundant University: Remaking Higher Education for a Digital World, by Michael D. Smith (2023)."Diversifying Society’s Leaders? The Determinants and Causal Effects of Admission to Highly Selective Private Colleges," by Raj Chetty, David J. Deming, and John N. Friedman (NBER Working Paper, 2023)."Are Universities Going the Way of CDs and Cable TV?" by Michael D. Smith (The Atlantic, 2020)."For Sale: SAT-Takers’ Names. Colleges Buy Student Data and Boost Exclusivity," by Douglas Belkin (The Wall Street Journal, 2019)."High School GPAs and ACT Scores as Predictors of College Completion: Examining Assumptions About Consistency Across High Schools," by Elaine M. Allensworth and Kallie Clark (Educational Researcher, 2020)."Mobility Report Cards: The Role of Colleges in Intergenerational Mobility," by Raj Chetty, John N. Friedman, Emmanuel Saez, Nicholas Turner, and Danny Yagan (NBER Working Paper, 2017)."How U.S. News College Rankings Promote Economic Inequality on Campus," by Benjamin Wermund (Politico, 2017).Streaming, Sharing, Stealing: Big Data and the Future of Entertainment, by Michael D. Smith (2016)."Higher Education's Work Preparation Paradox," by Brandon Busteed (Gallup, 2014)."Let’s Level the Playing Field for SAT Prep," by Sal Khan (Khan Academy, 2014)."Race, Poverty and SAT Scores: Modeling the Influences of Family Income on Black and White High School Students' SAT Performance," by Ezekiel J. Dixon-Roman, Howard Everson, and John J Mcardle (Teachers College Record, 2013).EXTRAS:"The Professor Who Said 'No' to Tenure," by People I (Mostly) Admire (2022)."Freakonomics Radio Goes Back to School," series by Freakonomics Radio (2022)."Is This the Future of High School?" by People I (Mostly) Admire (2022)."America’s Math Curriculum Doesn’t Add Up," by People I (Mostly) Admire (2021).“Sal Khan: ‘If It Works for 15 Cousins, It Could Work for a Billion People.’” by People I (Mostly) Admire (2021).