This is an invited post by Jeremy Trombley as part of the Anthropologies (#20) Student Debt issue.  Trombley is a PhD student at the University of Maryland studying environmental anthropology. His dissertation research focuses on the use of computational environmental modeling to understand and predict the effects of environmental management practices on the Chesapeake Bay. In addition he has done research on coal power in western Kansas, traditional cultural properties (TCPs) in rural Nevada, and aquatic invasive species (AIS) on the Eastern Shore. He blogs at Struggle Forever!

Sometimes I feel as though I’ve been swindled. Not by anyone in particular but by an institution that is relentlessly trying to prop itself up despite its progressive decline. That institution is the academy – once a public good devoted to the free production of critical knowledge, it has become in the last few decades a corporatized factory for the production of capitalist consumers and wage slaves. More than that, it has become itself a product for consumption where what’s for sale is the facsimile of intellectual freedom and integrity. Like so many extravagant island resorts, universities offer manicured landscapes, leisure activities, freedom from the wage clock – all for a price and all safely sectioned off from the harsh realities outside. But the price is going up, and students – the consumers of this image world that they are being sold – are taking on increasing amounts of debt to pay it. What’s more, they’re told this is “good debt” – like buying a house, right? Remember when owning a home was the “American Dream” – a symbol of financial security? Now that bubble has burst – the academic bubble, I believe, is not far behind it.

Bubbles happen when a sector of the economy becomes delusional – when those who take part in it believe it to be free from the economic rules upon which our world is constructed. Academia has become such a delusion. But bubbles are not accidents – they are an inevitable part of a system that seeks the maximization of profit as the ultimate value. Speculators dive in, drawn by promises of wealth and freedom only to be crushed by the inevitable collapse of the delusional space. The speculators are consumers themselves, buying into a vision sold to them by the real beneficiaries – the banks, insurance companies, and, in the case of academia, the Universities. In this case, the speculator-consumers are the students – drawn in by the lure of “good debt”, stipends, the image of freedom and intellectual engagement, and the promise of a good job when it’s all over. Continue reading →