HIGHER EDUCATION AS MONEY LAUNDRY:
"People ask why Harvard admissions can still be bribed or influenced by the rich or well-connected. This is the wrong question: the right question is why they ever give spots based on merit at all. The answer is: otherwise the scheme wouldn’t work. The point of a money-laundering operation is to take in both fairly-earned and dirty money, then mix them together so thoroughly that nobody can tell which is which...
I expect that without such a system the elites would do their own thing without any concession to merit whatsoever – so maybe it beats the alternative.
On the other hand, this lets them coopt potential opposition. by Glenn Reynolds
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