I introduce the “token fallacy,” which we commit when we confuse the tokens of learning,
such as grades or diplomas, with learning itself and lend the former the value that should
only be accorded to the latter. I argue that the token fallacy is involved in some policies,
practices, and programs that are commonly found at many institutions, such as dual-
credit/dual-enrollment programs and the completion agenda. I argue further that, to the
extent these practices rest on the token fallacy, they have the potential to create ethical …