Go read Michael Lind on the inevitable fallibility of our modern political and media elites. I think there’s something in there that speaks to the pump-and-dump cycle we’re seeing now with MOOCs:
The politicians and pundits who get the most attention — at least for a while — are those who treat a genuine but limited and reversible trend as evidence of imminent utopia or approaching apocalypse. Such hype is then magnified by an infotainment industry that promotes drama and penalizes nuance.
. . . . . .
When it comes to the hype market, you will seldom err by betting against it. When everybody who is anybody in politics and the press agrees on something, it’s time to raise some doubts.
Let’s call it Friedman’s Law: anything that Thomas Friedman promotes as the solution to anything is likely only to exacerbate the original problem. (Global jihad? Well, suck on this. College too expensive and too unresponsive to our immediate needs? Let’s sign up our weakest, least supported students to watch lectures online and to grade one another!)
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