ERIC Number: EJ930715
Record Type: Journal
Publication Date: 2010-Aug-31
Reference Count: N/A
Recession Amnesia and the Prospects for New England's Institutions
Halfond, Jay A.
New England Journal of Higher Education, Aug 2010
Among the little truly predictable, the author suggests three truths. First is the inevitability of recessions. Second is the belief that, in prosperity, these good times will just keep on rolling. Third is the fall. Bubbles will burst, myths shatter, plans unravel and pain sadly borne unjustly by those who didn't have a hand in the decisions that put their organizations in harm's way. And then the next fantasy sets in--the New Normal--the nightmare that this is a unique reality, the worst ever since 1929 and possibly the longest lasting. Then the cycle of recession amnesia repeats itself. The key to the competitiveness of individual institutions, our region and the American academic system as a whole is to maintain their distinctive features, their vitality and connection to the world, and their focus on the myriad needs of students. As recessions go, this one was the first in decades where New England fared better than the nation as a whole. But how do we break the syndrome of recession amnesia, as we muddle our way out of this recession? By recognizing our short-sightedness and lack of historical perspective, while continuing to try, even futilely, to make sense of our strengths and vulnerabilities in an otherwise perplexing world ahead.
Descriptors: Labor Force Development, Economic Climate, Economic Development, Economic Impact, Economic Progress, Educational Development, Change Strategies, Educational Change, College Administration, Institutional Characteristics, Performance Factors, Educational Philosophy, Regional Characteristics, Strategic Planning
New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail: email@example.com; Web site: http://www.nebhe.org
Publication Type: Journal Articles; Opinion Papers
Education Level: Higher Education
Authoring Institution: N/A