Universities have been progressing from providing scholarship for a small fee into selling degrees at a large cost.
This is the natural evolution of every enterprise under the curse of success: from making a good into selling the good, into progressively selling what looks like the good, then going bust after they run out of suckers and the story repeats itself ... (The cheapest to deliver effect: "successful" cheese artisans end up hiring managers and progress into making rubber that looks like cheese, replaced by artisans who in turn become "successful"…).
I would be interested to know how well documented this "curse of success" is? Is it studied in the economic literature? When do corporations, nations, firms, individuals suffer from this curse, when do they not? When do entire industries--like universities-- suffer from the curse? When do they survive and recover? When do they go completely bust? It seems possible to find examples going both ways, so I'm guessing there's something more subtle going on.
Another month, another rationality quotes thread. The rules are: