Very interesting presentation on Financial Crisis and the predictions on such bubbles by Didier.
If this theory is able to rightly predict the Financial Crisis, I wonder if this could also help in predicting the Education Crisis – based on the current debates on MOOCs.
There are certain similarities between Financial Crisis and Bubbles and those with education – and Higher Education in particular.
The use of Complexity and Emergence theory could explain parts of the phenomenon we have observed in Higher Education in the past few years, and the theory of Disruptive Innovation as highlighted by Clayton Christensen significantly provides the predication on what would happen to Higher Education and MOOCs.
The MOOC revolution, if it comes, will not be the result of a groundswell of dissatisfaction felicitously finding a technology that naturally solves problems, nor some version of the market’s invisible hand. It’s a tsunami powered by the interested speculation of interested parties in a particular industry. MOOCs are, and will be, big business, and the way that their makers see profitability at the end of the tunnel is what gives them their particular shape.
Could we predict what happens next with education, when disrupted by technology and changes in environment?
Harvard Business School professor and disruption guru Clayton Christensen says that a disruption displaces an existing market, industry, or technology and produces something new and more efficient and worthwhile. It is at once destructive and creative.
We are still at an early stage of such innovation disruption, though the trend and pattern is apparent.