College admissions scandal and the illusions of prestige

It is no coincidence that the list of parents indicted for buying their children entrance to allegedly prestigious colleges contains so many denizens of Hollywood and venture capital and investment banking.  Both professions sell illusions and dreams: outright fiction or the promise of profit. The purportedly "elite" colleges and universities into which they bribed their kids also sell the illusion that merely being associated with them will confer lifelong important advantages.  That is not nearly as true as they would have you believe.  In fact, in many if not most circumstances, enrollment in a nationally prominent purportedly "prestigious" institution of higher education is less a plus than a minus. Take lawyers, for instance. Sure, if you want to get a seat on the Supreme Court these days, you'd better have gone to Harvard or Yale Law Schools.  But that's nine jobs out of about 1.34 million...(Read Full Post)