On the plus side, I think the impending collapse in higher education, coupled with the sudden realization thousands of parents have had about the appalling quality of their kids' grade-school education, means a lot of old-school academics will find themselves taking a bit of a pay cut, but enjoying a much more rewarding vocation privately teaching high-school aged students instead. I have talked to one who's already doing this "on the side"-- he sees the writing on the wall, and was approached by a group of parents. I've heard of a few other early-adopters.