The issue here isn't whether philosophy is valuable or even the slippery slope implied in the title, it's this: "The crude pursuit of what is 'practical', 'efficient' or 'useful' is threatening everything of value that isn't evidently profitable." To be clear, by "profitable" we usually mean "profitable to some business owner" because skills that merely profit the student, but not industry, are still deemed to be of limited value. My position is that education should benefit first and only the student in question, and that priorizing the interests of 'stakeholders' is essentially an illicit appropriation of the student's time and resources.
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