Literature Review #3

2. Reynolds, Glenn Harlan (2012-06-26). The Higher Education Bubble (Encounter Broadside) (Kindle Location). Encounter Books. Kindle Edition.

3. It discusses the formation of a higher education bubble based on the modal of the housing bubble. Reynolds uses the housing bubble to explain that the educational bubble will follow a similar discourse to the housing bubble in that it will eventually burst causing the economy or this case education to crash. The price of higher education is rising too rapidly for people to afford/justify the massive debt that they are assuming for the jobs that degrees from universities are able to land people. The job market cannot handle so many college graduates and as a result jobs are paying less. Eventually, people are going to cease their acceptance of this system, large enrollment due to college for all, and the market will crash. 

4. Glenn Reynolds- Law Professor at the University of Tennessee, he has published several books on education, his expertise comes from being able to analyze data to show trends that all point to the theory that their is an educational bubble. 

5. bubble- debt, rising tuition, stigma of going to college, saturated job market, speculation, devaluating degrees and so are creating around higher education

unnatural- the fact that the nation would not have produced on its own so many college students, this means that more people are going to college than the nation is prepared to handle/ be able to integrate into the country after graduation 

6. “Total student-loan debt in America has passed the trillion-dollar mark, more than total credit-card debt and more than total auto-loan debt.” (Reynolds Kindle 88-89)

 “…the amount families pay for college has skyrocketed 439 percent since 1982…. Normal supply and demand can’t begin to explain cost increases of this magnitude” (Reynolds Kindle 25-26)

“By the 1970s, the infrastructure was there for more college students than the population was ready to produce on its own. “ (Reynolds (Kindle Locations 100-101))

7. He is going to provide verbage to the impending crisis which is being created by a high demand for a college degree as the result of the college for all movement which has created an unnaturally high demand for college degrees which has allowed colleges to raise prices despite seemingly less federal funding which causes students to take out increasing larger loans which increasingly cannot be justified by the job market and the value of the degree itself (which has decreased)