Degrees of Discontent: Credentialism, Inflation, and the Global Education Crisis

In an era defined by rapid technological change, globalization, and economic precarity, the promise of higher education as a reliable path to social mobility is being questioned around the world. At the heart of this reckoning are two interrelated forces: credentialism and credential inflation. Together, they have helped fuel a crisis of discontent that spans continents, demographics, and generations.

The Age of Credentialism

Credentialism refers to the increasing reliance on educational qualifications—often formal degrees or certificates—as a measure of skill, value, and worth in the labor market. What was once a gateway to opportunity has, for many, become a gatekeeper.

In countries as diverse as the United States, Nigeria, South Korea, and Brazil, employers increasingly demand college degrees for jobs that previously required only a high school diploma or no formal education at all. These “degree requirements” often serve more as filters than as real indicators of competence. In the U.S., for example, nearly two-thirds of new jobs require a college degree, yet only around 38% of the adult population holds one. This creates a built-in exclusionary mechanism that hits working-class, first-generation, and minority populations hardest.

Credential Inflation: The Diminishing Value of Degrees

As more people earn degrees in hopes of improving their employment prospects, the relative value of those credentials declines—a phenomenon known as credential inflation. Where a bachelor’s degree once opened doors to managerial or professional roles, it now often leads to underemployment or precarious gig work. In response, students seek advanced degrees, fueling a “credential arms race” with diminishing returns.

In India and China, massive expansions of higher education have led to millions of graduates chasing a finite number of white-collar jobs. In places like Egypt, university graduates have higher unemployment rates than those with only a secondary education. In South Korea, a hyper-competitive education culture pushes students through years of tutoring and testing, only to graduate into a job market with limited high-status roles.

Tragedy in Tunisia: The Human Cost of Unemployment

Few stories illustrate the devastating impact of credentialism and mass youth unemployment more than that of Mohammed Bouazizi, a 26-year-old Tunisian university graduate whose life and death sparked a revolution.

Unable to find formal employment, Bouazizi resorted to selling fruit and vegetables illegally in the town of Sidi Bouzid. In December 2010, after police confiscated his produce for lacking a permit, he set himself on fire in front of a local government building in a final act of desperation.

Bouazizi succumbed to his injuries weeks later, but not before igniting a firestorm of protests across Tunisia. His self-immolation became the catalyst for mass demonstrations against economic injustice, corruption, and authoritarianism—culminating in the Tunisian Revolution and inspiring uprisings throughout the Arab world.

At his funeral, an estimated 5,000 mourners marched, chanting: “Farewell, Mohammed, we will avenge you.” Bouazizi’s uncle said, “Mohammed gave his life to draw attention to his condition and that of his brothers.”

His act was not just a protest against police abuse, but a powerful indictment of a system that had produced thousands of educated but unemployed young people, whose degrees had become symbols of broken promises.

Global Discontent and Backlash

This dynamic of broken promises and rising discontent is global. In China, the “lying flat” movement reflects a rejection of endless striving in a system that offers diminishing returns on educational achievement. In South Korea, the “N-po” generation has opted out of traditional life goals, seeing little reward for their academic sacrifices.

In the U.S., distrust in higher education is mounting, with many questioning whether the cost of a degree is worth it. At the same time, a growing number of companies are dropping degree requirements altogether in favor of skills-based hiring.

Yet these moves often come too late for millions already trapped in a debt-fueled system, forced to chase credentials just to qualify for basic employment.

The Future of Work, the Future of Education

As automation and AI disrupt industries, the link between formal education and stable employment continues to fray. Policymakers call for "lifelong learning" and “upskilling,” but these strategies often place the burden back on workers without addressing the deeper failures of economic and educational systems.

To move forward, we must consider:

• Decoupling jobs from unnecessary credential requirements

• Investing in vocational and technical education with real career pathways

• Recognizing nontraditional forms of knowledge and skill

• Reframing education as a public good, not a consumer transaction

Reclaiming the Meaning of Education

Mohammed Bouazizi's story is a tragic reminder that the crisis of credentialism is not theoretical—it’s lived, felt, and fought over in the streets. Around the world, millions of young people feel abandoned by systems that promised opportunity but delivered anxiety, debt, and instability.

Unless global societies reimagine the relationship between education, work, and human dignity, the "degrees of discontent" will only continue to deepen. And as Bouazizi’s legacy shows, discontent—when ignored—can become revolutionary.

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Sources and References

• BBC News. “Tunisia suicide protester Mohammed Bouazizi dies.” January 5, 2011. https://www.bbc.com/news/world-africa-12120228

• Pew Research Center. “Public Trust in Higher Education is Eroding.” August 2023.

• Brown, Phillip. The Global Auction: The Broken Promises of Education, Jobs, and Incomes. Oxford University Press, 2011.

• Marginson, Simon. “The Worldwide Trend to High Participation Higher Education: Dynamics of Social Stratification in Inclusive Systems.” Higher Education, 2016.

• The World Bank. “Education and the Labor Market.”

• The Guardian. “Lying Flat: China's Youth Protest Culture Grows.” June 2021.

• Korea Herald. “'N-po Generation' Gives Up on Marriage, Children, and More.” October 2022.

Hyper Credentialism and the Neoliberal College Meltdown (Glen McGhee and Dahn Shaulis)

In the neoliberal era, higher education has become less a public good and more a marketplace of promises. The ideology of “lifelong learning” has been weaponized into an endless treadmill of hyper-credentialism — a cycle in which students, workers, and institutions are trapped in perpetual pursuit of new degrees, certificates, and micro-badges.

From Education to Signaling

Once, a college degree was seen as a path to citizenship and critical thought. Today, it’s a market signal — and an increasingly weak one. The bachelor’s degree no longer guarantees stable employment, so the system produces ever-more credentials: master’s programs, micro-certificates, “badges,” and other digital tokens of employability.

This shift doesn’t solve economic precarity — it monetizes it. Workers internalize the blame for their own stagnating wages, believing that the next credential will finally make them “market ready.” Employers, meanwhile, use credential inflation to justify low pay and increased screening, outsourcing the costs of training onto individuals.

A Perfect Fit for Neoliberalism

Hyper-credentialism is not a side effect; it’s a feature of the neoliberal education economy. It supports four pillars of the model:

Privatization and Profit Extraction – Public funding declines while students pay more. Each new credential creates a new revenue stream for universities, online program managers (OPMs), and ed-tech corporations.

Individual Responsibility – The structural causes of unemployment or underemployment are reframed as personal failures. “You just need to upskill.”

Debt Dependency – Students and workers finance their “reskilling” through federal loans and employer-linked programs, feeding the student-debt industry and its servicers.

Market Saturation and Collapse – As more credentials flood the market, each becomes less valuable. Institutions respond by creating even more credentials, accelerating the meltdown.

The Education-Finance Complex

The rise of hyper-credentialism is inseparable from the growth of the education-finance complex — a web of universities, private lenders, servicers, and Wall Street investors.
Firms like 2U, Coursera, and Guild Education sell the illusion of “access” while extracting rents from students and institutions alike. University administrators, pressured by enrollment declines, partner with these firms to chase new markets — often by spinning up online master’s programs with poor outcomes.

The result is a debt-driven ecosystem that thrives even as public confidence collapses. The fewer good jobs there are, the more desperate people become to buy new credentials. The meltdown feeds itself.

Winners and Losers

Winners: Ed-tech executives, university administrators, debt servicers, and the politicians who promote “lifelong learning” as a substitute for wage growth or labor rights.

Losers: Students, adjunct faculty, working-class families, and the public universities hollowed out by austerity and privatization.

The rhetoric of “upskilling” and “personal growth” masks a grim reality: a transfer of wealth from individuals to financialized institutions under the guise of opportunity.

A System That Can’t Redeem Itself

As enrollment declines and public trust erodes, the industry doubles down on micro-credentials and “stackable” pathways — small fixes to a structural crisis. Each badge, each certificate, is sold as a ticket back into the middle class. Yet every new credential devalues the old, producing diminishing returns for everyone except those selling the product.

Hyper-credentialism thus becomes both the symptom and the accelerant of the college meltdown. It sustains the illusion of mobility in a collapsing system, ensuring that the blame never reaches the architects of austerity, privatization, and financialization.

Sources and Further Reading

Brown, Wendy. Undoing the Demos: Neoliberalism’s Stealth Revolution.

Giroux, Henry. Neoliberalism’s War on Higher Education.

Cottom, Tressie McMillan. Lower Ed: The Troubling Rise of For-Profit Colleges in the New Economy.

The Higher Education Inquirer archives on the college meltdown, OPMs, and the debt economy.

Competency-Based Education and the Consequences of Punching the Ticket in Record Time

Competency-based education (CBE) is one way for consumers to save time and money when a professional credential is necessary for employment and promotion. It allows busy adult learners to avoid the boredom of being taught things they already know through experience and prior training. And it can be less costly, at least in the short run. For employers, it can get more people into the labor pool.

Economically, using CBE for a degree is one way to mitigate the hyper-credentialism that exists in many professional fields: a hyper-credentialism that closed doors and more student loan debt. But using CBE to get over the system may result in significant downsides for job seekers, workers, and consumers of medical, mental health, and social services.  

Buyer Beware

Professionals who hold private career certifications or licensing in these areas are the best candidates for competency-based learning. This is especially true in Information Technology and nursing.  

 

There are downsides to buying into a CBE program, however. If you plan to move to another company or organization, the CBE degree or certificate may not hold as much value to prospective employers.

Consumers of medical and mental health and social services should be aware that just because a professional has an advanced degree or certificate that they have significantly more skills--even if the credentials are from an elite school.  This is true of graduates from CBE programs and other online offerings, where oversight may be limited, and cheating may be rampant. 

Higher Education Inquirer Surpasses 1 Million Views, Including More Than 200,000 in July 2025

The Higher Education Inquirer has reached a major milestone: more than 1 million total views since its founding, with over 200,000 views in July 2025 alone—a record-breaking month for the independent investigative site. This surge in readership reflects growing public concern with the state of U.S. higher education, especially at a time of increasing economic precarity, political unrest, and institutional dysfunction.

As corporate media outlets continue to downsize or ignore coverage of student debt, credential inflation, predatory schools, and the exploitation of academic labor, readers are seeking more critical, independent voices. HEI, which has long focused on underreported stories within the higher education-industrial complex, is becoming a go-to resource for policymakers, whistleblowers, journalists, and everyday people trying to make sense of the education economy.

Most Viewed Stories in July 2025

A few standout articles reveal key themes that are resonating with readers:

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1. "Camp Mystic: A Century of Privilege, Exclusion, and Resilience Along the Guadalupe"
Views: 8,730
This deeply researched piece on the elite girls’ camp in Texas struck a nerve with readers interested in the intersection of inherited wealth, segregation, and performative philanthropy. Camp Mystic serves as a metaphor for the parallel institutions that shape American leadership in quiet, exclusive ways—far from public scrutiny.

Trend: Growing interest in how generational wealth and private networks perpetuate elite power and influence, especially through educational institutions.

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2. "The Big Beautiful Bill”: A Catastrophic Blow to College Affordability
Views: 1,290
This analysis of new legislation affecting federal student aid programs explores how a bill dressed in populist language has real consequences for working-class and middle-income families. Readers responded to its dissection of policy doublespeak and the structural defunding of public education.

Trend: Rising awareness of how both major political parties contribute to the erosion of affordable education—often under misleading rhetoric.

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3. "Santa Ono: Take the Money and Run"
Views: 956
A pointed critique of University of Michigan President Santa Ono’s high salary and revolving-door administrative career drew in readers frustrated by bloated leadership pay and lack of institutional accountability.

Trend: Increased public scrutiny of university presidents and boards of trustees, especially at elite institutions.

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4. "List of Schools with Strong Indicators of Misconduct, Evidence for Borrower Defense Claims"
Views: 943
This database-style article provided a valuable resource for former students, journalists, and attorneys. By documenting schools with troubling records, it supported those filing Borrower Defense to Repayment claims and highlighted the ongoing fallout from the for-profit college boom.

Trend: Continued demand for actionable consumer information amid the Biden Administration’s limited and politically fraught debt relief efforts.

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5. "Degrees of Discontent: Credentialism, Inflation, and the Global Education Crisis"
Views: 900
This global take on the failures of credential-driven economies resonated with a wide audience—from jobseekers with degrees they can’t use to educators struggling to make sense of shifting academic value.

Trend: A philosophical and economic reckoning with credentialism, especially as degrees lose value while tuition and debt skyrocket.

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6. "Layoffs at Southern New Hampshire University"
Views: 826
Coverage of SNHU, a major player in online education, shed light on the darker side of "innovation": layoffs, overwork, and instability for faculty and staff.

Trend: Growing doubts about the long-term sustainability and labor ethics of the online education model.

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7. "Universities Brace for Endowment Tax Hike, Rethink Investment Strategies"
Views: 687
A timely piece on elite university endowments caught the eye of readers interested in how wealth hoarding and financial engineering are baked into modern academia.

Trend: Rising critiques of nonprofit tax loopholes and the financialization of higher ed.

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8. "Liberty University in Black and White"
Views: 684
This critical examination of Liberty University’s public image, internal contradictions, and links to right-wing political power explored how Christian nationalist ideology operates through higher education.

Trend: High interest in the political roles of conservative religious institutions and their ties to the culture wars.

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9. "Corruption, Fraud and Scandal at Los Angeles Community College District (LACCD Whistleblower)"
Views: 615
A whistleblower-centered article on LACCD corruption revealed widespread misuse of funds and institutional cover-ups, especially in facilities projects.

Trend: Rising demand for investigative journalism focused on local corruption in publicly funded institutions.

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10. "Agency Information Collection Activities…Borrower Defense to Loan Repayment Universal Forms"
Views: Not Yet Indexed
While bureaucratic in title, this article was shared among policy experts and debt activists for its breakdown of how regulations—and public comment periods—impact real people trying to discharge fraudulent debt.

Trend: Readers are becoming more engaged in regulatory policy and more skeptical of federal agencies' ability or willingness to protect consumers.

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What Readers Want 

What these stories show is a distinct pattern: readers want more accountability, more transparency, and less propaganda from the education system that has long promised prosperity and delivered precarity. They’re fed up with bloated administrative salaries, empty credentials, elite hypocrisy, and legislative betrayal.

Thanks to grassroots support and collaborations with students, whistleblowers, and journalists, the Higher Education Inquirer continues to grow in both reach and relevance.

As we pass 1 million views, we’re not just marking clicks—we’re tracking the pulse of a system in crisis. And we’re not done yet.

HEI's Most Popular Recent Articles

Across the Higher Education Inquirer’s most-read articles, including List of Schools with Strong Indicators of Misconduct, Evidence for Borrower Defense Claims, The Hidden Crisis: Debt and Inequality Among Ph.D. Graduates, and Chinese College Meltdown: Credential Inflation and the Crisis in Higher Education Employment, a distinct pattern emerges that reflects HEI’s core commitment to exposing power imbalances and illuminating the hidden costs embedded in higher education.

Central to these stories is an unwavering focus on accountability and uncovering misconduct. The reporting calls out institutions with clear signs of unethical behavior and scrutinizes leaders who prioritize profit and prestige over student welfare, as seen in pieces like Santa Ono: Take the Money and Run. This unflinching stance resonates with readers who crave transparency and truth amid a landscape often clouded by spin and silence.

Economic and structural inequality threads through much of the coverage, connecting personal financial struggles to systemic failures. From the burden of debt weighing on Ph.D. graduates in The Hidden Crisis: Debt and Inequality Among Ph.D. Graduates to the growing problem of credential inflation devaluing degrees as detailed in Degrees of Discontent: Credentialism, Inflation, and the Global Education Crisis, these narratives reveal higher education as a tool of economic stratification rather than a guaranteed path to opportunity. Readers see their own hardships reflected in this broader critique of entrenched power and privilege.

The Higher Education Inquirer situates these contemporary crises within broader historical and global contexts. Stories like Camp Mystic: A Century of Privilege, Exclusion, and Resilience Along the Guadalupe and the coverage of global credential inflation emphasize that these challenges are neither new nor isolated. They are manifestations of ongoing systems of class and racial stratification shaped by layered policies and politics.

Political and institutional power, from conservative attacks on intellectualism highlighted in Trump’s War on Intellectualism Is a Threat to Democracy—But Elite Universities Aren’t Innocent Victims to liberal administrations’ partial debt relief programs covered in Biden-Harris Administration Announces Final Student Loan Forgiveness and Borrower Assistance Actions (US Department of Education), is examined with a critical eye. Avoiding partisan cheerleading, HEI’s articles assess outcomes and motivations alike, revealing how all sides often fall short of addressing the real needs of those most affected by higher education’s shortcomings.

A direct, investigative tone defines HEI’s reporting style. The publication favors evidence over euphemism, facts over empty rhetoric, and is unafraid to “name names” or challenge elite narratives. This clear-eyed approach attracts readers hungry for unvarnished truth and meaningful accountability.

The stories’ appeal also lies in their specificity and depth. Rather than abstract generalizations, these articles deliver carefully documented accounts focused on named institutions, individuals, and policies. This grounded approach builds credibility and fosters sharing among activists, academics, borrowers, and advocates.

Together, these elements form the distinctive formula behind the Higher Education Inquirer’s most impactful work—breaking through misinformation, challenging entrenched interests, and centering the lived realities behind the headlines.

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Sources:
Higher Education Inquirer archives, reader engagement analytics, public reports on higher education misconduct, debt and credential inflation studies, political analysis of education policy, community feedback from borrower and academic advocacy groups.

College Mania: The Spell is (Almost) Broken, But Hyper-Credentialism Remains

For decades, America was gripped by college mania, a culturally and structurally manufactured frenzy that elevated higher education to near-mythical importance. Students, families, and society were swept up in the belief that a college degree guaranteed status, financial security, and social validation. This was no mere aspiration; it was a fevered obsession, fueled by marketing, rankings, policy incentives, and social pressure. Today, the spell is breaking, but the demand for credentials persists.

Historically, the term “college mania” dates to the 19th century, when historian Frederick Rudolph used it to describe the fervent founding of colleges in the United States, driven by religious zeal and civic ambition. Over time, the mania evolved. Postwar expansion of higher education through the GI Bill normalized college attendance as a societal expectation. Rankings, elite admissions, and media coverage transformed selective schools into symbols of prestige. By the early 2000s, for-profit colleges exploited the frenzy, aggressively marketing to students while federal and state policy incentivized enrollment growth over meaningful outcomes.

The early 2010s revealed the fragility of this system in what I have described as the College Meltdown: structural dysfunction, declining returns on investment, predatory practices, and neoliberal policy failures exposed the weaknesses behind the hype. At its height, college mania spun students and families into a cycle of aspiration, anxiety, and debt.

Now, even students at the most elite institutions are disengaging. Many do not attend classes, treating lectures as optional, prioritizing networking, internships, or social signaling over actual learning. This demonstrates that the spell of college mania is unraveling: prestige alone no longer guarantees engagement or meaningful educational outcomes. Families are questioning the value of expensive degrees, underemployment is rising, and alternative pathways, including vocational training, apprenticeships, and nontraditional credentials, are gaining recognition.

Yet the paradox remains: for many jobs, credentials are still required. Nursing, engineering, teaching, accounting, and countless professional roles cannot be accessed without degrees. The waning mania does not erase the need for qualifications; it simply exposes how much of the cultural obsession — the anxiety, overpaying, and overworking — was socially manufactured rather than inherently necessary for employment. Students are now forced to navigate this tension: pursuing credentials while seeking value, purpose, and meaningful learning beyond the symbol of the degree itself.

The breaking of the spell is not unique to higher education. History demonstrates that manias — economic, social, or cultural — rise and fall. College mania, once fueled by collective belief and systemic reinforcement, is now unraveling under the weight of its contradictions. Institutions must adapt by emphasizing authentic education rather than prestige, while policymakers can prioritize affordability, accountability, and outcomes. Students, in turn, may pursue paths aligned with practical skills, personal growth, and career readiness rather than chasing symbolic credentials alone.

The era of college mania may be ending, but with the spell broken comes an opportunity. Higher education can be reimagined as a system that serves public good, intellectual development, and genuine opportunity, balancing the need for credentials with the pursuit of meaningful education.

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Sources:

Frederick Rudolph, The American College and University: A History (1962).
Frank Bruni, Where You Go Is Not Who You’ll Be: An Antidote to the College Admissions Mania (2015).
Dahn Shaulis, Higher Education Inquirer, “College Meltdown and the Manufactured Frenzy” (2011–2025).
Stanford Law Review, Private Universities in the Public Interest (2025).
Higher Education Handbook of Theory & Research, Volume 29 (2024).
Recent reporting on student engagement, class attendance, and labor-market requirements for degrees, 2023–2025.

Trump's War on Reality

The second Trump administration has unleashed a coordinated assault on reality itself—an effort that extends far beyond policy disagreements into the realm of deliberate gaslighting. Agency by agency, Trump’s lieutenants are reshaping facts, science, and language to consolidate power. Many of these figures, despite their populist rhetoric, come from elite universities, corporate boardrooms, or dynastic wealth. Their campaign is not just about dismantling government—it’s about erasing the ground truth that ordinary people rely on.

Department of Defense → Department of War

One of the starkest shifts has been renaming the Department of Defense the “Department of War.” This rhetorical change signals the administration’s embrace of permanent conflict as strategy. Secretary Pete Hegseth, a Princeton graduate and former hedge fund executive, embodies the contradiction: Ivy League polish combined with cable-news bravado. Under his watch, diplomacy is downgraded, alliances undermined, and propaganda elevated to policy.

The Pentagon has been retooled into a megaphone for Trump’s narrative that America is perpetually under siege. Despite the promise of “America First,” decisions consistently empower China and Russia by destabilizing traditional alliances. The irony: many of the architects of this policy cut their teeth at elite think tanks funded by the same defense contractors now profiting from chaos.

Department of Education

Trump’s appointees have doubled down on dismantling federal oversight, echoing the administration’s hostility to “woke indoctrination.” Yet the leaders spearheading this push often come from private prep schools and elite universities themselves. They know the value of credentialism for their own children, while stripping protections and opportunities from working families.

Department of Justice

Justice has been weaponized into a tool of disinformation. Elite law school alumni now run campaigns against “deep state” prosecutors, while simultaneously eroding safeguards against corruption. The result is a justice system where truth is malleable, determined not by evidence but by loyalty.

Department of Health and Human Services

Public health has been subsumed into culture war theatrics. Scientific consensus on climate, vaccines, and long-term health research is dismissed as partisan propaganda. Yet many of the leaders driving this narrative hail from institutions like Harvard and Stanford, where they once benefited from cutting-edge science, they now ridicule.

Environmental Protection Agency

The EPA has become the Environmental Pollution Agency, rolling back rules while gaslighting the public with claims of “cleaner air than ever.” Appointees often come directly from corporate law firms representing Big Oil and Big Coal, cloaking extractive capitalism in the language of freedom.

Department of Labor

Workers are told they are winning even as wages stagnate and union protections collapse. The elites orchestrating this rollback frequently hold MBAs from Wharton or Harvard Business School. They speak the language of “opportunity” while overseeing the erosion of worker rights and benefits.

Department of Homeland Security

Reality itself is policed here, where dissent is rebranded as domestic extremism. Elite operatives with ties to intelligence contractors enforce surveillance on ordinary Americans, while elite families enjoy immunity from scrutiny.

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The Elite Architecture of Gaslighting

What unites these agencies is not just Trump’s directives, but the pedigree of the people carrying them out. Far from being the populist outsiders they claim to be, many hail from Ivy League schools, white-shoe law firms, or Fortune 500 boardrooms. They weaponize their privilege to convince the public that up is down, war is peace and lies are truth.

The war on reality is not a sideshow—it is the central project of this administration. For elites, it is a way to entrench their power. For the rest of us, it means living in a hall of mirrors where truth is constantly rewritten, and democracy itself hangs in the balance.

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Sources

• New York Times, Trump’s Cabinet and Their Elite Connections

• Washington Post, How Trump Loyalists Are Reshaping Federal Agencies

• Politico, The Ivy League Populists of Trump’s Inner Circle

• ProPublica, Trump Administration’s Conflicts of Interest

• Brookings Institution, Trump’s Assault on the Administrative State

• Center for American Progress, Gaslighting the Public: Trump’s War on Facts

End of an Era

For now, we have suspended our three decade long run of citizen journalism and will let you know where we go from here.  Two of our other publications, American Injustice and street sociologist are also closed, but remain online for now on Blogger. 

Our Anti-SLAPP lawsuit (Chip Paucek and Pro Athlete Community v Dahn Shaulis) is pending. While the legal bill is enormous, we expect to win. In the meantime, please support independent voices like Democracy Now!, Richard Wolff, Robert A. Pape, Julie K. Brown, Roger Sollenberger, and Troy Barile. 

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   Higher Education and Class Sorting. Image by Glen McGhee

On our last full day of operation, we extend our deepest gratitude to the many courageous voices who have contributed to the Higher Education Inquirer over the years. Through research, reporting, whistleblowing, analysis, and public service, you have exposed inequities, challenged powerful interests, and helped the public understand the realities of higher education. Together, you form a resilient network of knowledge, courage, and public service, showing that collective insight can illuminate even the most entrenched systems. Your dedication has been, and continues to be, invaluable.

Special thanks to:
Bryan Alexander (Future Trends Forum), J. J. Anselmi (author), Devarian Baldwin (Trinity College),  Lisa Bannon (Wall Street Journal), Joe Berry (Higher Education Labor United), Kate Bronfenbrenner (Cornell), Stephen Burd (New America), Ann Bowers (Debt Collective), James Michael Brodie (Black and Gold Project Foundation), Patrick Campbell (Vets Ed Brief), Richard Cannon (activist), Kirk Carapezza (WGBH), Kevin L. Clay (Rutgers), Randall Collins (UPenn), Marianne Dissard (activist), Cory Doctorow, William Domhoff (UC Santa Cruz), Ruxandra Dumitriu, Keil Dumsch, Garrett Fitzgerald (College Recon), Glen Ford (with the ancestors), Richard Fossey (Condemned to Debt), Erica Gallagher (2U Whistleblower), Cliff Gibson III (Gibson & Keith), Henry Giroux (McMaster University), Terri Givens (University of British Columbia), Aaron Glantz, Luke Goldstein (The Lever),  Nathan Grawe (Carleton College), Michael Green (UNLV), Michael Hainline (Restore the GI Bill for Veterans), Debra Hale Shelton (Arkansas Times), Stephanie M. Hall (Protect Borrowers),  David Halperin (Republic Report), Bill Harrington (Croatan Institute), Phil Hill (On EdTech), Investor X (business insider), Robert Jensen (UT Austin), Seth Kahn (WCUP), Hank Kalet (Rutgers), Ben Kaufman (Protect Borrowers), Robert Kelchen (University of Tennessee), Karen Kelsky (The Professor Is In), Neil Kraus (UWRF), LACCD Whistleblower, Michelle Lee (whistleblower), Wendy Lynne Lee (Bloomsburg University of PA), Emmanuel Legeard (whistleblower), Adam Looney (University of Utah), Alec MacGillis (ProPublica), Jon Marcus (Hechinger Report), Steven Mintz (University of Texas), John D. Murphy (Mission Forsaken), Annelise Orleck (Dartmouth), Margaret Kimberly (Black Agenda Report), Austin Longhorn (UT student loan debt whistleblower), Richard Pollock (journalist), Debbi Potts (whistleblower), Jack Metzger (Roosevelt University), Derek Newton (The Cheat Sheet), Jeff Pooley (Annenberg Center), Fahmi Quadir (Safkhet Capital), Chris Quintana (USA Today), Jennifer Reed (University of Akron), Kevin Richert (Idaho Education News), Gary Roth (Rutgers-Newark), Mark Salisbury (TuitionFit), Stephanie Saul (NY Times), Christopher Serbagi (Serbagi Law), Alex Shebanow  (Fail State), Bob Shireman (TCF), Bill Skimmyhorn (William & Mary), Peter Simi (Chapman University), Jeffrey Sonnenfeld (Yale), Gary Stocker (College Viability), Strelnikov (Wikipedia Sucks), Taylor Swaak (Chronicle of Higher Education), Theresa Sweet (Sweet v Cardona), Harry Targ (Purdue University), Moe Tkacik (American Prospect),  Kim Tran (activist), Mark Twain Jr. (business insider), Michael Vasquez (The Tributary), Marina Vujnovic (Monmouth), Richard Wolff (Economic Update), David Whitman, Todd Wolfson (Rutgers, AFT), Helena Worthen (Higher Ed Labor United), DW (South American Correspondent), Heidi Weber (Whistleblower Revolution), Michael Yates (Monthly Review), government officials who have supported transparency and accountability, and the countless other educators, researchers, whistleblowers, advocates, and public servants whose work strengthens our understanding of higher education.

Dahn Shaulis and Glen McGhee

The Educated Underclass Without Borders

Gary Roth’s The Educated Underclass describes a growing population of college-educated people who, despite credentials and effort, are increasingly locked out of stable, dignified work. While Roth’s analysis focuses primarily on the United States, the framework extends naturally—and urgently—to international students educated in the U.S. and to the global labor markets they enter after graduation. When immigration regimes, artificial intelligence, and comparative higher education systems are considered together, the educated underclass emerges not as a national failure, but as a transnational condition produced by modern higher education itself.

U.S. colleges and universities aggressively recruit international students, presenting the American degree as a global passport to opportunity. These students pay higher tuition, subsidize institutional budgets, and enhance global prestige. What is far less visible is that access to the U.S. labor market after graduation is narrow, temporary, and increasingly unstable. Programs such as Optional Practical Training and the H-1B visa tie legal status to continuous employment, transforming graduates into a compliant workforce with little leverage. Job loss does not merely mean unemployment; it can mean removal from the country.

Indian students in STEM fields illustrate this dynamic clearly. Drawn by promises of innovation and demand, they enter graduate programs in computer science, engineering, and data analytics, only to find themselves funneled into a lottery-based visa system dominated by outsourcing firms and consulting intermediaries. Visa dependency suppresses wages, discourages job mobility, and creates a workforce that is educated but structurally insecure. Roth’s educated underclass is visible here, but intensified by deportability.

Artificial intelligence compounds this precarity. Entry-level technical and analytical roles—software testing, junior programming, data cleaning, research assistance—are increasingly automated or augmented. These were precisely the jobs that once absorbed international graduates. AI-driven labor contraction now collides with rigid visa timelines, turning technological displacement into enforced exit. Immigration policy quietly performs the work of labor market triage.

Chinese students in business, economics, and the social sciences encounter a different version of the same trap. U.S. employers are often reluctant to sponsor visas outside STEM, while Chinese labor markets are saturated with domestically educated elites. Meanwhile, geopolitical tensions—intensified during the Trump administration—have normalized suspicion toward Chinese students and scholars, particularly in research-adjacent fields. The American degree, once a clear marker of distinction, increasingly yields managerial precarity, contract work, or prolonged dependence on family support.

China’s own higher education system complicates this picture. Massive state investment has expanded elite universities and research capacity, producing millions of highly credentialed graduates each year. Yet employment growth has not kept pace. Underemployment among Chinese graduates has become routine, and returnees from U.S. programs often find that their foreign credentials no longer guarantee elite status. In both systems, education expands faster than secure work, producing surplus aspiration and managed disappointment.

Canada is often presented as a counterexample to U.S. hostility toward international students, but its outcomes reveal similar structural dynamics. Canadian universities rely heavily on international tuition, while immigration pathways—though more predictable—still channel graduates into precarious labor markets. Many international students end up in low-wage service or contract work unrelated to their degrees while awaiting permanent residency. At the same time, domestic Canadian graduates face rising competition for limited professional roles, particularly in urban centers. The result is not inclusion, but stratified precarity distributed across citizenship lines.

These global dynamics have domestic consequences that are rarely acknowledged honestly. International students and foreign graduates are increasingly perceived as occupying educational and professional positions that might otherwise go to people whose families have lived in the United States for generations. In elite universities, graduate programs, and competitive labor pipelines, institutions often prefer international applicants who pay full tuition, arrive pre-trained by global inequality, and are more willing to accept insecure work.

For historically rooted communities—Black Americans, Indigenous peoples, and long-established working-class families—the resentment is especially acute. After centuries of exclusion from education and professional employment, they are told that opportunity is scarce and must now be globally competitive. The contradiction is profound: a nation that never fully delivered educational justice at home markets opportunity abroad while declaring it unattainable domestically.

Trump-era immigration policies exploited this tension by framing foreign students and workers as threats rather than as participants in a system designed by elites. Travel bans, visa restrictions, attacks on OPT, and open hostility toward immigrants transformed structural failure into cultural conflict. Yet the animosity did not originate with Trump. It reflects decades of policy choices that expanded higher education without expanding secure employment, substituted global labor arbitrage for domestic investment, and left working- and middle-class Americans to absorb the losses.

Universities play a central role in sustaining this arrangement. They function as global sorting machines, extracting tuition from abroad, conferring credentials with declining labor-market value, and disclaiming responsibility for outcomes shaped by immigration law and AI-driven contraction. Career services rarely confront these realities directly. Transparency would threaten enrollment pipelines, so silence prevails.

In Roth’s terms, this enlarges the educated underclass while fracturing it internally. Domestic and foreign graduates are pitted against one another for shrinking footholds, even as both experience debt, insecurity, and diminishing returns on education. The conflict is horizontal, while power remains vertical.

The educated underclass is no longer emerging. It is already global, credentialed, indebted, and increasingly unnecessary to the systems that trained it. Until institutions, employers, and governments in the U.S., Canada, China, and beyond are held accountable for the scarcity they engineer, higher education will continue to function not as a ladder to mobility, but as a mechanism for managing inequality across borders.

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Sources

Gary Roth, The Educated Underclass
Harriet A. Washington, Medical Apartheid
Elisabeth Rosenthal, An American Sickness
OECD, Education at a Glance
U.S. Citizenship and Immigration Services, OPT and H-1B program materials
National Foundation for American Policy, reports on H-1B labor markets
Georgetown University Center on Education and the Workforce, credential inflation studies
International Labour Organization, global youth and graduate employment reports
China Ministry of Education, graduate employment statistics
Statistics Canada, international students and labor market outcomes
David Graeber, Bullshit Jobs
Richard Wolff, writings on global labor surplus and credentialism

When Was Higher Education Truly a Public Good? (Glen McGhee)

Like staring at the Sun too long, that brief window in time, when higher ed was a public good, has left a permanent hole for nostalgia to leak in, becoming a massive black hole for trillions of dollars, and a blind-spot for misguided national policies and scholars alike. 

The notion that American higher education was ever a true public good is largely a myth. From the colonial colleges to the neoliberal university of today, higher education has functioned primarily as a mechanism of class reproduction and elite consolidation—with one brief, historically anomalous exception during the Cold War.

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Colonial Roots: Elite Reproduction in the New World (1636–1787)

The first American colleges—Harvard, William and Mary, Yale, Princeton, and a handful of others—were founded not for the benefit of the public, but to serve narrow elite interests. Their stated missions were to train Protestant clergy and prepare the sons of wealthy white families for leadership. They operated under monopoly charters and drew funding from landowners, merchants, and slave traders.

Elihu Yale, namesake of Yale University, derived wealth from his commercial ties to the East India Company and the slave trade. Harvard’s early trustees owned enslaved people. These institutions functioned as “old boys’ clubs,” perpetuating privilege rather than promoting equality. Their educational mission was to cultivate “gentlemen fit to govern,” not citizens of a democracy.

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Private Enterprise in the Republic (1790–1860)

After independence, the number of colleges exploded—from 19 in 1790 to more than 800 by 1880—but not because of any commitment to the public good. Colleges became tools for two private interests: religious denominations seeking influence, and land speculators eager to raise property values.

Ministers often doubled as land dealers, founding small, parochial colleges to anchor towns and boost prices. State governments played a minimal role, providing funding only in times of crisis. The Supreme Court’s 1819 Dartmouth College decision enshrined institutional autonomy, shielding private colleges from state interference. Even state universities were created mainly out of interstate competition—every state needed its own to “keep up with its neighbors.”

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Gilded Age and Progressive Era: Credential Capitalism (1880–1940)

By the late 19th century, industrial capitalism had transformed higher education into a private good—something purchased for individual advancement. As family farms and small businesses disappeared, college credentials became the ticket to white-collar respectability.

Sociologist Burton Bledstein called this the “culture of professionalism.” Families invested in degrees to secure middle-class futures for their children. By the 1920s, most students attended college not to seek enlightenment, but “to get ready for a particular job.”

Elite universities such as Harvard, Yale, and Princeton solidified their dominance through exclusive networks. C. Wright Mills later observed that America’s “power elite” circulated through these same institutions and their associated clubs. Pierre Bourdieu’s concept of cultural capital helps explain this continuity: elite universities convert inherited privilege into certified merit, preserving hierarchy under the guise of meritocracy.

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The Morrill Acts: Public Promise, Private Gains (1862–1890)

The Morrill Act of 1862 established land-grant colleges to promote “practical education” in agriculture and engineering. While often cited as a triumph of public-minded policy, the act’s legacy is ambivalent.

Land-grant universities were built on land expropriated from Indigenous peoples—often without compensation—and the 1890 Morrill Act entrenched segregation by mandating separate institutions for Black Americans in the Jim Crow South. Even as these colleges expanded access for white working-class men, they simultaneously reinforced racial and economic hierarchies.

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Cold War Universities: The Brief Public Good (1940–1970)

For roughly thirty years, during World War II and the Cold War, American universities functioned as genuine public goods—but only because national survival seemed to depend on them.

The GI Bill opened college to millions of veterans, stabilizing the economy and expanding the middle class. Massive federal investments in research transformed universities into engines of technological and scientific innovation. The university, for a moment, was understood as a public instrument for national progress.

Yet this golden age was marred by exclusion. Black veterans were often denied GI Bill benefits, particularly in the South, where discriminatory admissions and housing policies blocked their participation. The “military-industrial-academic complex” that emerged from wartime funding created a new elite network centered on research universities like MIT, Stanford, and Berkeley.

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Neoliberal Regression: Education as a Private Commodity (1980–Present)

After 1970, the system reverted to its long-standing norm: higher education as a private good. The Cold War’s end, the tax revolt, and the rise of neoliberal ideology dismantled the postwar consensus.

Ronald Reagan led the charge—first as California governor, cutting higher education funding by 20%, then as president, slashing federal support. He argued that tuition should replace public subsidies, casting education as an individual investment rather than a social right.

Since 1980, state funding per student has fallen sharply while tuition at public universities has tripled. Students are now treated as “customers,” and universities as corporations—complete with branding departments, executive pay packages, and relentless tuition hikes.

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The Circuit of Elite Network Capital

Today, the benefits of higher education flow through a closed circuit of power that links elite universities, corporations, government agencies, and wealthy families.

1. Elite Universities consolidate wealth and prestige through research funding, patents, and endowments.

2. Corporations recruit talent and license discoveries, feeding the same institutions that produce their executives.

3. Government and Military Agencies are staffed by alumni of elite universities, reinforcing a revolving door of privilege.

4. Elite Professions—law, medicine, finance, consulting—use degrees as gatekeeping mechanisms, driving credential inflation.

5. Wealthy Families invest in elite education as a means of preserving status across generations.

What the public receives are only residual benefits—technologies and medical innovations that remain inaccessible without money or insurance.

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Elite Network Capital, Not Public Good

The idea of higher education as a public good has always been more myth than reality. For most of American history, colleges and universities have functioned as institutions of elite reproduction, not engines of democratic uplift.

Only during the extraordinary conditions of the mid-20th century—when global war and ideological conflict made mass education a national imperative—did higher education briefly align with the public interest.

Today’s universities continue to speak the language of “public good,” but their actions reveal a different truth. They serve as factories of credentialism and as nodes in an elite network that translates privilege into prestige. What masquerades as a public good is, in practice, elite network capital—a system designed not to democratize opportunity, but to manage and legitimize inequality.

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Sources:
Labaree (2017), Bledstein (1976), Bourdieu (1984, 1986), Mills (1956), Geiger (2015), Thelin (2019), and McGhee (2025).

A Brief History of U.S. Financial Downturns and Collapses: Speculation, Deregulation, Environmental Stress, and the Crises to Come

Since the Treaty of Paris in 1783, the United States has experienced repeated financial collapses—economic convulsions shaped by cycles of speculation, deregulation, and systemic inequality. While official narratives often frame these crises as isolated, unexpected events, the truth is more systemic. Time and again, economic downturns have been driven by elite greed, weakened regulatory institutions, and the exploitation of both people and the planet. Today, amid climate chaos, digital finance, and eroding public trust, the United States stands on the brink of another, potentially greater, financial reckoning.

The country’s first financial panic, in 1792, was triggered by speculative schemes in government securities. Treasury Secretary Alexander Hamilton’s efforts to stabilize the new economy through the Bank of the United States led to rampant speculation on public debt. A brief crisis followed when overextended investors panicked. A few years later, the Panic of 1797 resulted from overleveraged land investments and a tightening of British credit. These early shocks revealed a fundamental pattern: deregulated markets rewarded insiders and punished everyone else.

Throughout the 19th century, financial panics became a fixture of American capitalism. The Panic of 1819, the nation’s first true depression, followed a credit boom tied to western land speculation and aggressive lending by the Second Bank of the United States. As cotton prices collapsed and farmers defaulted on loans, banks failed, and mass unemployment followed. The Panic of 1837, catalyzed by President Andrew Jackson’s dismantling of the national bank and his hard-money policies, triggered a deep depression that lasted through most of the 1840s. The financial collapse of 1857, in turn, stemmed from global trade imbalances, railroad speculation, and the failure of major financial institutions like the Ohio Life Insurance and Trust Company.

Even at this early stage, economic expansion was fueled by environmental exploitation. Railroads cut through forests and Indigenous territories. Monoculture farming destroyed topsoil. Western land, viewed as limitless, was extracted for immediate profit, with no regard for sustainability or stewardship.

The late 19th century’s Gilded Age brought a series of devastating crashes that reflected the unchecked power of monopolists and financiers. The Panic of 1873, known as the beginning of the Long Depression, began with the collapse of Jay Cooke & Company, a bank overinvested in railroads. The depression persisted for years and was marked by widespread unemployment, strikes, and a backlash against corporate excess. In 1893, another railroad bubble burst, leading to bank runs, industrial failures, and one of the worst economic downturns of the century. At every turn, environmental damage—from deforestation to mining disasters—intensified.

The 20th century began with new waves of speculation and consolidation, culminating in the infamous crash of 1929 and the Great Depression. In the 1920s, the U.S. economy boomed on the back of industrial expansion, easy credit, and a largely unregulated stock market. Wall Street profits masked deep inequality and rural poverty. When the bubble burst in October 1929, the collapse wiped out millions of investors and plunged the country into a decade-long depression. Environmental catastrophe followed in the form of the Dust Bowl, a man-made disaster brought about by overfarming and soil mismanagement across the Great Plains. Families lost both their farms and their future, creating a mass migration of the economically displaced.

In response, the Roosevelt administration implemented the New Deal, which included financial reforms like the Glass-Steagall Act, the Securities and Exchange Commission, and public investment in infrastructure. But by the late 20th century, many of these safeguards were systematically dismantled. The wave of deregulation began in earnest during the Reagan era. The Savings and Loan Crisis of the 1980s, a direct result of financial deregulation and speculative lending, cost American taxpayers more than $160 billion. At the same time, environmental protections were weakened, leading to an explosion of toxic sites and a spike in chronic health problems, especially in low-income communities.

In the 1990s and early 2000s, the rise of Silicon Valley and the dot-com bubble marked a new chapter in speculative capitalism. Investors poured money into tech startups with little revenue or product. The bubble burst in 2000, wiping out trillions in paper wealth and exposing the fragility of digital economies built on hype rather than value. This was followed by the more devastating crash of 2008, the result of subprime mortgage fraud, unregulated derivatives, and the repeal of Glass-Steagall in 1999. Wall Street firms packaged risky home loans into complex securities and sold them across the globe. When the housing market collapsed, so did the global financial system.

The 2008 crash led to the Great Recession, which resulted in millions of foreclosures, lost jobs, and deep cuts to public services. African American and Latinx communities, already targeted by predatory lenders, were especially hard hit. At the same time, sprawling housing developments—many built in environmentally fragile areas—were abandoned or devalued, further highlighting the links between financial speculation and ecological risk.

More recently, the COVID-19 pandemic triggered a sharp recession in 2020. Lockdowns and mass illness disrupted labor markets, supply chains, and public institutions. The federal government responded with massive fiscal and monetary stimulus, which lifted financial markets even as millions lost jobs or left the workforce. Low interest rates and stimulus checks fueled speculative booms in housing, stocks, and digital assets like cryptocurrency.

Cryptocurrency, originally touted as a decentralized alternative to Wall Street, became a magnet for speculative excess. Bitcoin and Ethereum surged to record highs, only to crash repeatedly. The collapse of major crypto exchanges like FTX in 2022 revealed rampant fraud, regulatory gaps, and a new frontier of financial exploitation. In addition to its financial instability, cryptocurrency mining has significant environmental costs, consuming more electricity than many small nations and accelerating carbon emissions in areas powered by fossil fuels.

The current moment is defined by overlapping crises: speculative bubbles in tech and crypto, a fragile labor market, worsening inequality, and a rapidly destabilizing climate. Insurance companies are retreating from high-risk areas due to wildfires, floods, and hurricanes. Crop failures and water shortages threaten food security. Global supply chains are vulnerable to both pandemics and extreme weather. At the same time, deregulatory fervor continues, with efforts to weaken environmental laws, consumer protections, and financial oversight.

If history is any guide, these trends point toward the likelihood of a greater collapse—one not confined to Wall Street but cascading through housing, education, healthcare, and global systems. Future downturns may not be triggered by a single event like a stock crash or pandemic but by an interconnected series of shocks: climate disaster, resource wars, digital speculation, and institutional failure.

Higher education will not be spared. Universities increasingly rely on endowments tied to volatile markets, student debt, and partnerships with speculative industries. The growth of for-profit colleges, online "robocolleges," and gig-economy credentialism has created a hollow system that produces degrees but not economic security. Many young Americans—especially those from working-class and marginalized communities—now face a lifetime of debt and precarious employment. They are the product of a financialized education system that promised upward mobility and delivered downward pressure.

In the end, financial collapses in the U.S. have never been merely economic—they have been moral and political failures as well. They reflect a system that too often prioritizes speculation over stability, deregulation over justice, and private gain over public good. Some of the wealthiest figures in this system—like Peter Thiel and other techno-libertarian futurists—actively invest in escape plans: buying bunkers in New Zealand, funding longevity startups, or betting on crypto anarchy, all while anticipating societal collapse. But most Americans don’t have the luxury of opting out. What we need instead is a commitment to rebuilding systems grounded in equity, sustainability, and democratic accountability. While the risks ahead are real, so are the opportunities—especially if the people most affected by past collapses organize, speak out, and help shape a more resilient and just future.

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