Political correctness has certainly contributed to higher education's breach of the social contract. There are other causes, some of which come out in the comments to the Chicago Boyz post.
The ideal of academic freedom rests on an implied contract between the general society and academia. According to this contract academia will use that freedom to explore and question every possible subject from every possible perspective. It’s the same contract we have with scientists. We let scientists poke around into uncomfortable areas as long as they use scientific methodology to do so. We expect academics in non-scientific areas to do the same. We expect that any academic should understand all perspectives on their area of study and that they should be able to make cogent arguments from of those perspectives.
Yet since the 1960s corrupt leftists have hijacked academia to serve their own political interest. They have abandoned their obligation to investigate every perspective and instead have used the power and status of academia to advance their own pet political causes. Indeed, many in academia seem to consider themselves political activists first and foremost and public intellectuals secondarily if at all. Even the very organizational structure of the modern liberal-arts department is built around the leftists’ obsession with race, sex, sexual orientation, imperialism, colonialism, etc. Modern academics actively suppress non-leftists’ perspectives.
OBSERVATION OF THE DAY. Shannon Love of Chicago Boyz details higher education's failure.