Economist Michael D. Smith says universities are scrambling to protect a status quo that deserves to die. He tells Steve why the current system is unsustainable, and what’s at stake if nothing changes. FOLLOW PEOPLE I (MOSTLY) ADMIRE: YouTube: https://freak.ws/3yIl6dl Apple Podcasts: https://freak.ws/3ELfGST Spotify: https://freak.ws/3D6uqKV ABOUT PEOPLE I (MOSTLY) ADMIRE: “Freakonomics” co-author Steve Levitt tracks down other high achievers for surprising, revealing conversations about their lives and obsessions. Join Levitt as he goes through the most interesting midlife crisis you’ve ever heard — and learn how a renegade sheriff is transforming Chicago’s jail, how a biologist is finding the secrets of evolution in the Arctic tundra, and how a trivia champion memorized 160,000 flashcards. ABOUT THE FREAKONOMICS RADIO NETWORK: Freakonomics began as a book, which led to a blog, a documentary film, more books, a pair of pants, and in 2010, a podcast called Freakonomics Radio. Hosted by Stephen J. Dubner, it’s one of the most popular podcasts in the world, with a reputation for storytelling that is both rigorous and entertaining. Its archive of more than 500 episodes is available, for free, on any podcast app, and the show airs weekly on NPR stations. Freakonomics Radio is now the flagship show of the Freakonomics Radio Network, which includes the podcasts No Stupid Questions, People I (Mostly) Admire, and The Economics of Everyday Things. FREAKONOMICS RADIO NETWORK PODCASTS: Freakonomics Radio: https://freakonomics.com/series/freakonomics-radio No Stupid Questions: https://freakonomics.com/series/nsq/ People I (Mostly) Admire: https://freakonomics.com/series/people-i-mostly-admire/ Economics of Everyday Things.: https://freakonomics.com/series/everyday-things/ Special series: https://freakonomics.com/topics/ CONNECT WITH US: PIMA@freakonomics.com https://twitter.com/MostlyAdmiring https://www.instagram.com/freakonomics/ https://www.facebook.com/freakonomics/ https://www.tiktok.com/@freakonomicsradio https://www.linkedin.com/company/freakonomics-media Subscribe to our newsletter: http://eepurl.com/bKm0cf