If we want to see an indication of how badly the education bubble is bursting, we just have to look at a figure. A popular teacher at a major university has opened an on-line course with unlimited enrollment. 200,000 students enrolled.
Normally, if such a class had one hundred students, those two hundred thousand students would have provided jobs for 2,000 teachers. Not any more. As we look at the number of teachers that could similarly be replaced, we are left with a staggering fact: Teaching personnel could be reduced by 1999/2,000. The internet and computers replace 2,000 teachers with one. In other words, for every two thousand teachers, with automation and the internet, we now need only one.
Costs would plummet. Everyone, not just the children of the wealthy or those willing to sink themselves deeply in debt, could afford higher education. Revelation 18:11 begins to tell the story of such a collapse in an earlier Babylon: “There will be weeping and distress over her among all the traders of the earth when there is nobody left to buy their cargoes of goods. . . . .Mourn, mourn for this great city. . .”
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Education, like Babylon, is a bubble about to burst. The collapsing costs will destroy a huge structure that’s no longer needed. It will be like the ruin of the canal industry, the disappearance of buggy whip and horse collar businesses.
Like Babylon’s fall, the bursting of the education bubble will spread havoc throughout its world. Does anyone care? Certainly not those who have been impoverished, if not enslaved, to keep the education bubble from bursting.
