College and university presidents in the United States and elsewhere regularly link the need for a higher education to individual and national needs for economic advancement. What if their underlying assumptions aren't true? Three social scientists from British universities challenge many of those assumptions in The Global Auction: The Broken Promises of Education, Jobs and Incomes, just published by Oxford University Press.
Many American economists have been stung by their failure to anticipate the financial meltdown of 2008, dogged by persistent suggestions of conflicts of interest -- that they were working for financial industries that they said were healthier than turned out to be true. In a notable break from the past, the pre-eminent professional society for the discipline is moving ahead with plans to examine ethical practices in the field.