Michigan rightly prides itself on having some fine public universities. The flagship school, the University of Michigan, is considered by virtually all college rankers to be among the nation’s five best public universities. An objective examination of Wolverine State schools, however, shows several weaknesses. There is apparent severe overcapacity accompanying sharply declining enrollments, which demographic factors suggest likely will not reverse soon. Additionally, outside observers rate most Michigan public universities just so-so in quality. Perhaps the time has come to consider a new model for funding these universities, letting what Joseph Schumpeter termed “creative destruction” in dynamic competitive markets operate in higher education.
Read MoreIt’s Time to Shake Up Higher Education
