n + 1 mag has a hard-hitting piece about American higher education:
Since 1978, the price of tuition at US colleges has increased over 900 percent, 650 points above inflation. To put that in number in perspective, housing prices, the bubble that nearly burst the US economy, then the global one, increased only fifty points above the Consumer Price Index during those years. But while college applicants’ faith in the value of higher education has only increased, employers’ has declined. According to Richard Rothstein at The Economic Policy Institute, wages for college-educated workers outside of the inflated finance industry have stagnated or diminished.
As faculty jobs have become increasingly contingent and precarious, administration has become anything but. Formerly, administrators were more or less teachers with added responsibilities; nowadays, they function more like standard corporate managers—and they’re paid like them too… Department of Education estimates that by 2014 there will be more administrators than instructors at American four-year nonprofit colleges.