The Washington Monthly approach rewards universities that give a lot back to the taxpayer, and are a sharp contrast to the US News and World Report rankings which focus on selectivity, SAT scores, and perceptions of prestige. Whereas the US News ranking typically puts Harvard University at #1, the Washington Monthly ranking finds that University of California-San Diego is the best university in America. Rick talks to Washington Monthly's Paul Glastris, and then talks to me about some of the differences between the 2 number 1s: Harvard (where I received my PhD) and UC-San Diego (where I now teach).
http://www.pbs.org/wnet/need-to-know/culture/audio-a-new-number-one/4134/
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