Colleges and universities in the United States remain among the most prestigious institutions of higher education in the world. But, concerned about rising costs and the job prospects of young men and women with undergraduate degrees, Americans these days tend to view education as more of a business proposition.As a result, conversations on the broader value of a liberal arts degree have been overshadowed. Furthermore, an awareness of the shortcomings of graduate education, especially in PhD programs, and its implications for higher education as well as for American society in general have been entirely absent in these conversations.