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On a personal level, I find it difficult to connect with the corporate analogy. It is alienating, sterile, and ultimately…masculine.

When we view faculty as labor and students as customers, we do not see magic; we see expenses and revenue on a profit-and-loss sheet. We would be better off selling tickets to a magic show.

Last year, Google created a site called Teach Parents Tech, which allows you to put together a customized email–ostensibly for your parents–with pre-fab explanations of how to accomplish certain things. It’s a pretty useful service, frankly, and not just for parents.

large numbers of the students were making their way through college with minimal exposure to rigorous coursework, only a modest investment of effort and little or no meaningful improvement in skills like writing and reasoning.

Simply put: academic investments are a lower priority.

When 18-year-olds are emboldened to see themselves in this manner, many look for ways to attain an educational credential effortlessly and comfortably. And they are catered to accordingly. The customer is always right.

Fractional-reserve banking

Fractional-reserve banking is a type of banking whereby the bank does not retain all of a customer’s deposits within the bank. Funds received by the bank are generally lent to other customers. This means that available funds (called bank reserves) are only a fraction (called the reserve ratio) of the quantity of deposits at the bank. As most bank deposits are treated as money in their own right, fractional reserve banking increases the money supply, and banks are said to create money.