Two Economies, Two Universities
There’s an interesting debate going on in American policy circles based on arguments Tyler Cowen advanced in his recent book The Great Stagnation, one with enormous relevance for thinking about the future of the university. The argument is that there are two economies in America today. The first (call it “Economy I”) is composed of the sectors dealing in globally traded goods, which are required to be extremely inventive and dynamic because of the pressure of foreign competition. It is







