Why The Internet Isn't Going To End College As We Know It

The idea that Internet is about to do to college what it’s done to journalism and entertainment seems to be coming dangerously close to conventional wisdom in certain elite circles. Here’s blogger/economist Tyler Cowen yesterday at theĀ Aspen Ideas Festival:

Look at the music industry. It’s been completely overturned by the Internet. My vision of the world is that everywhere will be like the music industry, but we’ve only seen it in a few places so far. Journalism is in the midst of the battle. And higher education is probably next.

It’s not just the bloggers. The University of Virginia’s president was temporarily sacked partly because the school’s Board of Visitors didn’t think she was rushing fast enough into online education, only to be reinstated after a groundswell of protest by the students and faculty. Tech billionaire Peter Thiel has become the pied piper of the “uncollege” movement, arguing that higher-ed is a bubble ready to pop as he encourages students to drop out.Click here to read more >>

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.