The public has become all too aware of the term "bubble" to describe an asset that is irrationally and artificially overvalued and cannot be sustained. The dot-com bubble burst by 2000. More recently the overextended housing market collapsed, helping to trigger a credit meltdown. The stock market has declined more than 30 percent in the past year,…

What is happening today among U.S. institutions of higher education is a growing competitive mentality in which each school is striving to tear students and money away from its neighbors. In these times of tight money, taxpayer-supported institutions will not benefit if independent colleges and universities are forced to close. (RM)