The only issue is that there is absolutely nothing about Diermaier’s statement that is unique to the University of Chicago. Any official at any remotely similar university or college could (and would) say exactly the same thing, verbatim. And while the statement tantalizingly suggests that similar institutions may have different criteria for identifying those who might benefit most from being educated there, it doesn’t begin to demonstrate what those differences might be. I suspect they barely exist now. Once upon a time, I think Chicago really was looking for a certain type of student, in a way most of its peers weren’t. My impression today is that the type of student Chicago is looking for is no different from the universities with which it competes, except for being very likely to come to Chicago if admitted. (Generally, as demonstrated by an ED application.)
What’s more, Chicago and everywhere else are looking for diverse student bodies. Harvard absolutely wants a good chunk of Chicago types there to keep the faculty happy (it’s no fun to teach empty classrooms or students who don’t care to be taught), and Chicago is desperate to admit Harvard-type leaders who will improve the quality of life there and get elected President some day (as long as they will come to Chicago and not wreck the yield figures).
Yield management absolutely runs contrary to the ideal of selecting the students who will benefit most from the education an institution provides. The Chicago super-ED-heavy strategy is not so different in effect from the Dutch auction procedure you would use if you were actually having people bid for slots. The vast majority of each class is chosen (at a rate that is no longer disclosed) from among people who have committed to attend at or below a fixed maximum price the University has every reason to believe is market-clearing. Unless willingness to commit at that price is an essential element of being the sort of person who can most benefit from a Chicago education – marlowe1 thinks it is, but I don’t know who else is really going to argue that – the system makes Diermaier a hypocrite.