Time has a revealing opinion piece on how universities develop when they try to emulate big business and join the rankings arms race.
How American Universities Turned Into Corporations is a brief but telling article that shows that, while applying business logic to universities may be good for senior bureaucrats and their bank balances, it has not been good for students, and not good for academics.
‘… This transformation is part of a larger cultural shift that can be traced back to the 1970s and ‘80s, when policymakers began to view higher education more as a private good (benefitting individual students) than as a public good (helping the nation prosper by creating better educated citizens).’
‘… how did policymakers envision that students would pay for that private good? Through student loans, of course.’
‘… The ranks of well-paid administrators have swelled as well, far outpacing the growth of full-time faculty, who are being replaced by low-paid adjunct professors.’