Are small town colleges going extinct?
Summary
Hosts Robert Smith and Wayne Wong present the Beiji Awards, celebrating the best anecdotes from the Federal Reserve’s Beige Book. They highlight economic shifts like workers demanding higher wages and luxury buyers renting due to new taxes. The top award goes to the Boston Fed for its report on the higher education crisis, featuring a story about Anna Maria College’s sudden closure. A former professor reflects on the school’s financial struggles and the impact on the community, illustrating the broader challenges facing small liberal arts colleges.
Topics discussed
Intro: The Beige Book as a lunchbox item
Jokes about economic reports and the Beiji Awards
Show introduction and award show premise
Explaining the Fed's 12 regional banks and the Beige Book
3rd Place: Dallas Fed on workers demanding raises
2nd Place: New York Fed on luxury housing tax effects
Announcing the 1st Place winner: Boston Fed
Interview with Riley Sullivan: Background and college
Reading the winning Beige Book entry on higher ed
Challenges facing higher education: demographics and visas
Rise of trade schools and impact on small towns
Case study: Anna Maria College closure
Travis Maruska: Early signs of financial struggle
Causes of closure: demographics and cost inflation
Impact on students, faculty, and community
Travis Maruska's new career in mental health
Other Massachusetts college closures and closing remarks
Production credits
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