American higher education is at a major turning point. We are in the midst of enormous social, political, economic, and technological changes that are part of big long-term shifts in the economic and political position of the U.S. in the world, shifts that began several decades ago. While the U.S. is likely to recover from the current recession (technically no longer a recession, but it sure feels like one to the 99%), it will probably not occupy the same prominent place that it once did and the structure of its economy will be considerably different. In the new world that is emerging, the nature of jobs and how they are compensated is changing, mostly not for the better of employees. Many of the professional jobs that college and university alumni have traditionally held, including those in higher education, are likely to be more precarious and less well paid.