Date of this Version
Published in Journal of the National Collegiate Honors Council, Spring/Summer 2014, Volume 15, Number 1.
In past pages of JNCHC, I have argued the inappropriateness of believing that educational institutions should adhere to a business model or think of students as customers (“Business”). For supporting evidence, one need not peer far beyond the Savings & Loan Crisis, the housing bubble, the insider manipulations and profiteering on Wall Street, or the relationship between college tuition and the real costs of educating a student. I worked on Wall Street and at Rockefeller Center in the mid-1970s as a junior businessman. I was involved with the silver bullion trade when the Hunts manipulated the market, sending silver prices skyrocketing to unprecedented heights before the inevitable collapse. The playing field in the world of finance is not level: the brokers on Wall Street have access to information that the public does not.