Bruce Nussbaum, a former assistant managing editor of Businessweek, is a Professor of Innovation and Design at Parsons-The New School of Design and author of the forthcoming book, Creative Intelligence (HarperBusiness, March 2013).

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The one in 20 applicants who manages to get in--like those at Parsons in New York or the Rhode Island School of Design--has a leg up.

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In its present form the New School is indeed new: It is a recent amalgam of a graduate program called the New School for Social Research with two conservatory-like schools (the Parsons School of Design and the Mannes College of Music) and several less well-known entities.

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