Academic Elitism

Economist Dan Klein shows that the worldwide top-35 economics departments pull 76 percent of their faculty from their own graduates. He argues that the academic culture is pyramidal, not polycentric, and resembles a closed and genteel social circle. Meanwhile it draws on resources from taxpayers, foundations, endowments, and tuition payers, and it judges the social service delivered. The result is a self-organizing and self-validating circle
Source: http://en.wikipedia.org/wiki/Academic_elitism