The value is a function of the scarcity of the degree, the quality of the professors and the amount of resources. Since the last variable has gone up with no d

The value is a function of the scarcity of the degree, the quality of the professors and the amount of resources. Since the last variable has gone up with no decrease in the scarcity there's more value for fewer people, proportionally, than there was a decade ago. The author argues this just further raises the walls surrounding an already fortunate class (because, let's be honest, if you get into Harvard, you're either talented as hell or extraordinarily well-connected).