jcunni5 wrote:
Austrian> Chicago>>>>>>Keynesian
This is so true that it should be a tattoo. Though in fairness Hayek taught for a long time at Chicago, and the Coase theorem (in my lay understanding) is awfully Austrian. So Austrian that Friedman at first assumed it must be wrong until Coase explained.
rayiner wrote:
If any of the current T10 drop out, it'll be Michigan. They have a fat endowment and a strong peer-rep, but the latter keeps decreasing every year. They can't count on an Ivy rep like Penn nor are they in a highly desirable state like Virginia or Berkeley.
Not that I think it'll happen any time soon. I think NU is probably the best-positioned to make a concerted effort to overtake Michigan, but their business-friendly angle won't really cut it. The problem is that USNWR very heavily weighs that academic (peer) reputation score. That business angle tends to be taken as a trade school angle by NU's academic peers.
I like the business angle, the constant self-examination and improvement ethos at NU. I do think some academic types find that offensively bourgeois, for lack of a better term. Some people previously sniffed similar sentiments at
that commuter school NYU... and now it's 5th (perhaps in large part for location). The good part of the USNWR criteria is that aside from the hefty chunk that's just reputational feedback loop, it's objectively measured.
Agreed that Michigan is probably the easiest fruit, given that it was #3 in 1987, from 1990 to 2000 it was 6 to 8, and now it's more 9 to 10. But ultimately I imagine Northwestern will need stronger placement and reputation outside Chicago and the Midwest to see solid rankings improvement. I think Northwestern has done a lot to try and claim a niche; where Y is academia, H is H, CLS is Wall Street, NYU is public interest (and #1 in tax), and Chicago is Law & Econ, Northwestern is trying to make a niche with business/corporate. The school Plans and the seasoned graduates fit nicely into it. That focus might help build a reputation.
I tend to view LSAT as a very rough proxy for student quality, especially 75th percentile, and from that perspective NU is roughly 7th behind HYSCCN, followed by VP and then M. That's a good sign for NU, even if has no larger impact.