>College: Elite colleges are failing every abundance-agenda test imaginable. They’re hardly expanding the total number of admissions; their share of total enrollment has actually been shrinking; and they’re admitting fewer of the low-income students who gain the most by attending elite colleges in the first place.

Peter Turchin argues that we're overproducing elites and there aren't enough elite roles to go around. I'm inclined to agree. Think of all the elite business schools that are pumping out MBAs year after year.