"The College Cartel
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Most people don't truly know what elite colleges sell, and they certainly don't know how elite colleges sell. This book covers a story the media has ignored for too long. It details how elite colleges illegally collude to monopolize the higher education industry and squeeze students, parents, and the public. Between 1994 and 2021, the University of Pennsylvania's endowment increased from 1.5 billion to 20.5 billion, growing by 1301%. Over that period, Cornell's endowment grew by 1014%, Brown's endowment grew by 1035%, and Duke's endowment grew by 1717%. Universally, elite universities have grown opulent beyond belief.Coinciding with that opulence is a growing scarcity of seats. As elite universities have hoarded more resources, they have jointly refused to teach materially more students. Between 1991 to 2021, the acceptance rate at the University of Pennsylvania plummeted from 47% of applicants to below 6%. Over that period, Cornell's acceptance rate went from over 30% to merely 9%.
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