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This article titled "The Death of Liberal Arts" points to the sad economic reality that many liberal arts schools have to cut down on their course offerings to focus on providing more "useful" pre-professional preparations for the students. But in the long run a liberal arts education, especially from an elite school, fares quite well, as the ability to adapt to different environments and to learn to solve new problems quickly and effectively is desirable not only for its own sake but also for the sake of employability. Usefulness and education for education's sake do not have to contradict.        

http://www.newsweek.com/blogs/jobbed/2010/04/05/the-death-of-liberal-arts.html?obref=obnetwork