The Higher Education Bubble: Literature Review Blog #1

Citation: Reynolds, Glenn H.. The higher education bubble. New York: Encounter Books, 2012. Print.

     In this book Glenn Reynolds takes the time to explain the causes and effect of the higher education bubble and he suggests the steps colleges and universities must take to survive in our newly increasing treacherous environment. Reynolds goes on to suggest reason's as to why the higher education bubble is soon to burst. 
     Glenn Harlan Reynolds is a distinguished Professor of Law at The University of Tennessee. Reynoldsblog Instapundit. Reynolds is an author, columnist and writer of academic journals. He is best known for his political blog Instapundit. According to his biography on the University of Tennessee College of Law page Professor Reynoldshas testified before Congressional committees on space law, international trade, and domestic terrorism. 
     A key concept in this book is that the price of college education has severely increased while the product (teaching) has not changed and is more wide-spread, and consequently lower in value. The higher education bubble can be compared to the housing bubble. Another key concept in this book is that if higher education is going to be so expensive there needs to much more return on the time and money invested when attending, this return would be an increase in teaching. 
     On page 3 of this book a quote states that "Bubbles form when too many people expect values to go up forever. Bubbles burst when there are no longer enough excessively optimistic and ignorant folks to fuel them." This quote describes the cause of a bubble and the reasoning behind a burst of a bubble. The importance behind this quote is that this quote illustrates that everything has a tipping point. Negligence can only continue for so long. 
    On Page 41 it is expressed that "Wrenching economic change is easy to endure, so long as it's happening to other people." In reference to politics this quote begins a chapter that describes the political repercussions of an increasing higher education bubble and why there is little that is being done about it. 
    On Page 35 Reynolds states that "College now serves largely as a status marker, a sign or membership in the educated "caste," and as a place for people to meet future spouses of commensurate status." This quote shows how college has decreased in value in society. It's become too saturated and that fact will only increase the rate at which the higher education bubble will burst. 
    This material has helped to explore my research question because I now have a better understanding of the problem and I see the role that it has within politics.