To last as long as they have, universities steadily increased the number of graduate students they enrolled while decreasing the percentage of full-time positions available on campus. This assured universities of a short-term labor surplus of graduate students and adjunct faculty, though it may also prove their undoing. While universities and tenured faculty squabble over issues such as copyright, intellectual property, and awarding tenure for work in media other than print, the highly-trained adjunct professors and post docs are poised to create a business of education. One may argue that few adjunct faculty know this yet, though, be assured, the Michael Milkens and Larry Ellisons of the business world do. Change will not come easily, of course.
Higher education is one of the United States' largest multi-billion dollar industries.
It owns some of the most recognized brands in the world. The economics and culture of the entire nation are entangled with it. This is a work in progress by Peter Schilling.