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> my feeling that diminishing returns have set in to investments in higher education

That's seeing people only as a black box slave-like "workforce", giving them "education" as well as food to sustain your busyness

> Now it is true that college has a consumption as well as investment function. People often enjoy going to classes [...]

It has many other functions too, for the human beeings beiing "educated". If done well, it can even give them critical thought process, and knowledge about certain topics of their environement. In eastern europe countries, the aboundance of educated people in a beauraucratic regime which did not propose so much interesting life openings contributed to its fall.

> [...] increasingly costly and unproductive forms of special pleading by a sector that abhors transparency and performance measures.

Just like the banking sector, the pharmaceutical sector, etc... Performance is a word people often use meaning fittness to a metrics relevant to their particular interests.

> Higher education is on the brink of big change, like it or not.

Which only means the balance of powers is changing. Care to ellaborate about why and how ? Otherwise it is just saying : specialized labour is less needed by US industry, so less people have to be trained. Ok, agreed (or not), so let's give them education instead.



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