I was reading an article on the Economist about revolutionizing management education and came across an interesting expression.
Geoffrey Garrett, dean of the Wharton School, at the University of Pennsylvania, believes that a flight to quality is benefiting top institutions like his – and their graduates.
Here is the context:
The previous paragraphs talk about how improved schools outside the U.S. are allowing foreign students to study closer to home. Also, MBA programs have become less popular among U.S. students.
What does "flight" mean in the sentence? Is "a flight to sth" a set phrase?
Best Answer
It‘s a double entendre, so two meanings at once.
"Flight" as to flee
As user067351 says, the statement is borrowing a term-of-art (insider jargon) from the financial industry:
The literal expression means fleeing high-growth but high-risk investments due to an expected downturn in which the risk will exceed the growth, so selling them high and moving into safer investments like bonds.
The speaker is saying that US MBA programs are the best, and despite improvement in foreign school programs, foreign students still feel safer investing their time and tuition in the best.
"Flight" as desirable transportation mode, esp. across seas
And "quality" as the speaker's own institution :)
The metaphor is that the foreign students are "flying" (to cross the ocean) to a "quality" university.
This is why the speaker selected "flight to quality" instead of "flight to safety" above. The latter make it sound like they are refugees, whereas the former allows the speaker to brag.