Professors are recruited and paid on their academic reputations, not whether they’re any good at teaching. And there is a desire for status. There is a constant competition with one another. And the thing with reputational competition is that there’s no end to it. You don’t ever reach some point where you’re as good as you can be because the only question is, ‘Are you as good as the university in the next state?’ So there’s no ceiling to how much money colleges and universities can spend competing with one another.
— On today’s Fresh Air, what’s driving college costs higher.