elite privilege

Death of the “prestige economy”

Eric Garland Education Trends Leave a Comment

award-ribbonAlways set on outdoing herself, my colleague Sarah Kendzior is hacking the culture of fancy degrees and “prestigious” unpaid internships to bits, putting the bits in a 55 gallon drum, pouring gasoline in the drum, lighting the whole thing on fire – then firing nukes at everything within a 100 mile…

anyhow DIG THIS:

Success does not matter because, in a prestige economy, success has nothing to do with employability. Achievements are irrelevant in a system that rewards money over merit, brand over skill. You can do everything right and the door will not open unless you hold it open with money. That is the way the prestige economy is designed. That is why we now require years of unpaid internships and exorbitant advanced degrees. But the irony of the prestige economy is that even those who can pay to play cannot find a job that pays them.

Prestige rewards prestige, but older prestige has realized that younger prestige will work for more prestige — that is, for free. Even the winners are losing.

Even the “winners” are losing now – because the game is made to lose.