The reason academics are always going on about how exploitative the labor markets are, is because their labor markets really ARE abominably exploitative!
No wonder the Ivory Tower is enamored of Marxism… their “class overlords” in Administration keep swelling administration jobs while getting rid of tenured positions and exploiting desperate unemployed PhDs with six-digit student loans as part-time workers.
Somehow the fact that PhD holders are nowhere near “lower class” themselves (and tend to be in the first round or two of purges in every Communist revolution ever) never seems to occur to them. Even if they are loan-poor because they didn’t check whether or not their degree would get them a good job… or realize that taking on massive student loan debt for bachelor’s, masters, and doctorate – which cannot be discharged in bankruptcy – is essentially voluntarily selling yourself into debt peonage. Look, guys, you might be living paycheck-to-paycheck and eating mostly ramen, but the actual underclass? doesn’t even graduate from high school.
UPDATE: tossing this in – VDH describes why my attitude towards higher education is “may the institution burn to the ground, and quickly.” Not to be confused with literal destruction of capital, since I would like the campuses to remain intact for the use of future educational arrangements.