"Another reform: double-blind grading, like in the UK. In this system, exams are graded by the professor (or TA) and then re-graded by a professor at another university. This reduces grade inflation since students can’t appeal to anonymous graders, and it ensures consistent standards."
As someone who has taught in both the US and the UK systems, and has been deeply involved in the so-called "double-blind grading" in the UK as an external examiner for several universities, let me assure you that the UK system does nothing whatsoever to reduce grade inflation, nor indeed to ensure consistent standards. It often increases grade inflation (the external examiner says, "this would earn an A at my university, so you should give one here as well" far more often than the converse), and since external examiners have no idea how the course was taught, it is impossible for them to distinguish a brilliantly original answer from one that was carefully prepared for in the lectures, so the idea that it ensures consistent standards is something of a joke.
The one good thing that it does do is remove personal bias, in the rare cases that occurs - where a professor deliberately downgrades through personal animosity or upgrades through favoritism. But personal bias like that is rare, and can (at least in the downgrading case) be dealt with much more effectively through a robust internal appeals system, or else through anonymizing examinations.
The double grading system at British universities is quite unbelievably expensive, as well as appallingly time-consuming for all concerned (you literally have to pay to bring outside professors in to every university department and give them days to work through hundreds or thousands of examination papers), without actually achieving its supposed aims.
If Private Credit is something that should not be in the hands of "retail", then what do you turn to for something not as highly correlated as most options open to "retail"? I have been only an accredited investor for a few years and already find it frustrating the options that are now moving to the "qualified" tier. Are we to take BTC or Crowdfunding as our only choices (I'd rather buy a Lotto ticket). I'd hate to loose my access to vehicles that are providing inventory bridge loans or senior, asset based capital to strong small and medium businesses.
As a visiting professor, I taught the capstone course for a masters program at a large university. As a businessman and not an academic (and a college graduate back in the dark ages) I had no experience with grade inflation or similar non-meritocratic methods of grading. Just before the first class started I was informed that no grade lower than a B could be given in this course. I was appalled then and am appalled now. Had I been free to grade based on my own evaluations, there would have been plenty of C's and D's in this course.
And employers wonder at the unearned demands made by younger Millennials and Gen Z when entering the workplace. Grade inflation is just one of the symptoms of the lowering of standards for younger people.
"Another reform: double-blind grading, like in the UK. In this system, exams are graded by the professor (or TA) and then re-graded by a professor at another university. This reduces grade inflation since students can’t appeal to anonymous graders, and it ensures consistent standards."
As someone who has taught in both the US and the UK systems, and has been deeply involved in the so-called "double-blind grading" in the UK as an external examiner for several universities, let me assure you that the UK system does nothing whatsoever to reduce grade inflation, nor indeed to ensure consistent standards. It often increases grade inflation (the external examiner says, "this would earn an A at my university, so you should give one here as well" far more often than the converse), and since external examiners have no idea how the course was taught, it is impossible for them to distinguish a brilliantly original answer from one that was carefully prepared for in the lectures, so the idea that it ensures consistent standards is something of a joke.
The one good thing that it does do is remove personal bias, in the rare cases that occurs - where a professor deliberately downgrades through personal animosity or upgrades through favoritism. But personal bias like that is rare, and can (at least in the downgrading case) be dealt with much more effectively through a robust internal appeals system, or else through anonymizing examinations.
The double grading system at British universities is quite unbelievably expensive, as well as appallingly time-consuming for all concerned (you literally have to pay to bring outside professors in to every university department and give them days to work through hundreds or thousands of examination papers), without actually achieving its supposed aims.
too bad. maybe there is no cure for grade inflation then. I suppose I put too much stock in my grades from university.
If Private Credit is something that should not be in the hands of "retail", then what do you turn to for something not as highly correlated as most options open to "retail"? I have been only an accredited investor for a few years and already find it frustrating the options that are now moving to the "qualified" tier. Are we to take BTC or Crowdfunding as our only choices (I'd rather buy a Lotto ticket). I'd hate to loose my access to vehicles that are providing inventory bridge loans or senior, asset based capital to strong small and medium businesses.
As a visiting professor, I taught the capstone course for a masters program at a large university. As a businessman and not an academic (and a college graduate back in the dark ages) I had no experience with grade inflation or similar non-meritocratic methods of grading. Just before the first class started I was informed that no grade lower than a B could be given in this course. I was appalled then and am appalled now. Had I been free to grade based on my own evaluations, there would have been plenty of C's and D's in this course.
And employers wonder at the unearned demands made by younger Millennials and Gen Z when entering the workplace. Grade inflation is just one of the symptoms of the lowering of standards for younger people.
6pct deficits might play a role!