HIGHER EDUCATION BUBBLE UPDATE: Victor Davis Hanson: America’s Medieval Universities. Today’s campus is more reactionary than the objects of its frequent vituperation.

Employment rates for college graduates are dismal. Aggregate student debt is staggering. But university administrative salaries are soaring. The campus climate of tolerance has utterly disappeared. Only the hard sciences and graduate schools have salvaged American universities’ international reputations.

For over two centuries, our superb system of American public and private higher education kept pace with radically changing times and so ensured our prosperity and reinforced democratic pluralism. But a funny thing has happened on the way to the 21st century. Colleges that were once our most enlightened and tolerant institutions became America’s dinosaurs.

And expensive dinosaurs.