Posted by Tyler Cowen
Read the debate. Steve says U. Chicago would nix him for lack of undergraduate mathematics classes. He believes that Harvard or MIT "might still take a chance on me today."
I am a strong believer in having at least one top school -- Chicago once played this role -- which accepts virtually everybody and lets competition sort them out in brutal fashion. I am also a strong believer in having more graduate students at top schools know economic history than real analysis. I don't expect either of these wishes to come true anytime soon.
"I think the answer is that MIT and/or Harvard might still take a chance on me today, but not the other top places including the University of Chicago. At U of C, my application would be thrown out before ever getting to a faculty member, just as would have been the case 15 years ago.
I am lucky that MIT was willing to roll the dice."