Creative destruction is US education
Creative destruction also happens in education in the US: more than 200 colleges and universities in the United States closed in the decade, notes LinkedIn News:
‘More colleges are shuttering even though applications at well-known institutions — including Ivy League schools — have spiked. Overall, applications jumped 24% from 2019 to 2022, according to a Common Application report. The data shows more applicants are vying for spots in the same "brand-name" schools, where "demand is off the charts," the president of a college test prep firm says. Meanwhile, smaller, less prestigious schools are struggling with inflation and dwindling endowments. Roughly 200 colleges have closed in the decade, based on a Wall Street Journal investigation, quadrupling the pace of the previous decade.’