UPDATE II: Marc Bousquet follows up his critique of Marc C. Taylor on The Valve.
UPDATE: Apparently everyone is hastening to announce the end of the university as we know it (will we feel fine?)
Interesting review from NY Review of Books:
Since the financial meltdown began to accelerate last summer, the world has changed utterly for colleges and universities just as it has for everyone who had not been stashing cash under the mattress. Along with failing banks, auto manufacturers, and insurance companies, universities have been making headlines—especially those whose gigantic endowments (Harvard’s was approaching $40 billion before the crash) have sharply declined. Last year, politicians and pundits were complaining about the unseemly wealth of such institutions. This year, alumni are getting e-mails from beleaguered presidents assuring them that Alma Mater will somehow ride out the storm.
Read the rest.