paying the price for pseudo-logic

The tides are changing for higher education. In 2019, Joe Biden was elected on a platform of free college education for all Americans. Six years later, few politicians in the West talk about expanding the bloated university system. The penny seems to have dropped that bumping up participation rates has achieved little, except satisfy egalitarian ideology and generate massive debt.
   As always with state involvement, there's now a ratchet-effect problem. Reversing the expansion will create unemployment among academics, and lead to waste of useless expenditure on infrastructure (lecture halls, student accommodation, etc.) Did New Labour, or their counterparts in other countries, consider this reversibility issue, when they encouraged the spending spree? It's doubtful.
   There's an interesting recent article by a retired academic who says he was opposed to the UK's expansion that started in the 1990s, and who argues that chickens are now coming home to roost. The fact that the article appears in Times Higher Education suggests that even the academic and administrative elites are starting to acknowledge the problem.
   Former politics lecturer Lincoln Allison points out that the UK's current two-tier system (half are graduates, half not) condemns non-graduates permanently to lower-grade jobs. Rather than expanding opportunities for the able, the expansion has succeeded in entrenching class differences.
   Allison says that the university sector has been "bloated to an unsustainable level", and predicts that it is now "bound to decline".

... the government of a new party – or an old party on a new trajectory – may get into power and boldly and deliberately dismantle large parts of the system.
   As a competitor for public funding, universities don't look good compared with health, defence and environment, and we must bear in mind that the British constitution can allow nearly complete control over policy based on 40 per cent of the vote. Such a government might institute a programme of closures and insist on the sale of assets and real estate.

Allison's article doesn't explore the dodgy logic that was used to rationalise the bloating, back in the heady nineties and noughties. The phenomenon is particularly noteworthy given that academics themselves were presumably involved in developing the case for expansion.
   The 2006 Leitch Review in particular provides a prime illustration of ludicrous pseudo-rationality: statistics, charts, arguments ('Britain needs more graduates in order to compete!'), all conveniently collated and targeted at producing a desired conclusion ('increase participation rate to 40%!') that had probably been fixed in advance. It's a testament to spurious logic of the kind nowadays habitually deployed in the humanities, and a testament to how such pseudo-logic can have massive political consequences, with a massive price to pay down the line, in the form of economic mismanagement and sorting out the mess.