Students who have been treated as smart since elementary school may go off to private colleges that spend up to $350,000 per student per year. Meanwhile many of the less gifted students, who quickly perceive that teachers don’t value them the same way, will end up at community colleges that may spend only $17,000 per pupil per year. By adulthood,... See more

At 38 of the top 100 colleges in America, including five of the Ivies, there are more students from the top 1 percent of income earning households than there are from the bottom 60 percent.

But students competed ferociously to get into the elite social clubs: Ivy at Princeton, Skull and Bones at Yale, the Porcellian at Harvard. These clubs provided the well-placed few with the connections that would help them ascend to white-shoe law firms, to prestigious banks, to the State Department, perhaps even to the White House.