I came accross on the web something like this: Humans by definition have "spirit" and "body" and there is constant "tension" between the two parts. I think these tensions are the main cause for all the history of the humans. This tension is probably the hidden variable manifesting itself in the form of complex tales of human life. A "good" amount of tension is needed to hold the structure (otherwise there would be no history). If there are surges we see breaks in the structure. In fact how well the tension is balanced influences how stable the system is. According to Robin Hanson as mentioned in Scott's post academia is the least of the broken systems.
I think the reason that it's least broken is that this business is most exclusively handled by powerful elite and they usually tend to inherit "being more moral" spirit along with "being elite" genes and hence the breaks caused by fraudulent tensions are not a serious problem at all for this enterprise. There are those little breaks in the system because there are surges in tension between worrying about deductions and struggle to understand the assumptions.