Where are the College Bubble Blogs? Why is the same amount of vitriol not conveyed upon higher education institutions?

The Higher Education Bubble: It’s About to Burst

Found via TaxProf Blog, via Instapundit.

Update: Read this horrifying story sent to me by a reader, Higher Ed. Racket: How Kids Are Paying a Fortune for Rip-off ‘Prestige’ Educations:

What if we actually started measuring how much students learn at their colleges and universities? How would that change the competition among institutions? Would the schools with the blue-chip price tags and high average debt loads fall from the top ranks? Would it spell an end to the era in which a forbidding set of entrance standards and a few stone facades are enough to tell us that a school is doing a great job? Let’s hope so. It would be great if more universities competed to be excellent. What we have now is schools that spend a lot of money — students’ money, taxpayers’ money — merely to look that way.