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Harvard University is one of the oldest, richest, and most prestigious universities in the country.

Yet even the Ivy League’s crown jewel isn’t safe from federal scrutiny.

President Trump has threatened to revoke Harvard’s tax-exempt status. Citing concerns of academic freedom, anti-Semitism, and hostile ideological takeover, his administration has aggressively cracked down on all institutions of higher education—but Harvard isn’t going down without a fight. Posting on Truth Social, the President wrote:

There’s no doubt the university shouldn’t be funded by the taxpayer dime. Neither should any academic institution. Independent Institute’s new book, Let Colleges Fail: The Power of Creative Destruction in Higher Education, explains why: today’s universities waste taxpayer dollars, inflate bureaucracy, and stifle intellectual diversity—all while delivering mediocre outcomes at sky-high prices.
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But, as Harvard and other universities come under fire, at what point is outside scrutiny going too far?
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Senior Fellow Richard K. Vedder, author of Independent’s new book and Distinguished Emeritus Professor of Economics at Ohio University, weighs in at The American Spectator ([link removed]) :

“Many of the pronouncements of the administration regarding universities, including Harvard, show a narcissistic and arguably unconstitutional show of power by the president. It is not an orderly and reasoned reassessment of public policy, and needs to be modified. But … The Harvard community needs to be frightened. Above all, some adults need to take charge.”

Everyone knows American universities are more expensive and less impressive than ever. But Vedder is right that solving this crisis requires precision and strategy—not a wrecking ball.

That’s exactly what Vedder’s book offers.

Drawing on the work of the Austrian economist Joseph A. Schumpeter, he names the cure: “creative destruction.”

Vedder defines “creative destruction” as a “gale of destruction” that is “incessantly destroying” the inefficient institutions while also “incessantly creating” new ones.

This isn’t a crude executive order coming from the top of government.

Rather, “creative destruction” is the organic and necessary force that will lead to the best possible outcome for everyone—educators and students alike.

Let Colleges Fail: The Power of Creative Destruction in Higher Education is the hard-hitting instruction manual America needs in order to save its institutions of higher learning. Daring in its analysis, practical in its problem-solving, and thoroughly readable in its prose, it is indispensable reading for those who want America’s colleges to thrive once again.
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