“Crisis” and “decline” are the words of the day in discussions of the humanities. A primary stimulus for the concern is a startling factoid: only 8 percent of undergraduates major in humanities. But this figure is misleading. It does not include majors in closely related fields such as history, journalism and some of the social sciences. Nor does it take account of the many required and elective humanities courses students take outside their majors. Most important, the 8 percent includes only those with a serious academic interest in literature, music and art, not those devoted to producing the artistic works that humanists study.

Once we recognize that deeply caring about the humanities (including the arts) does not require majoring in philosophy, English or foreign languages, it’s not at all obvious that there is a crisis of interest in the humanities, at least in our universities.

Is the crisis rather one of harsh economic reality? Humanities majors on average start earning $31,000 per year and move to an average of $50,000 in their middle years. (The figures for writers and performing artists are much lower.) By contrast, business majors start with salaries 26 percent higher than humanities majors and move to salaries 51 percent higher.

But this data does not show that business majors earn more because they majored in business. Business majors may well be more interested in earning money and so accept jobs that pay well even if they are not otherwise fulfilling, whereas people interested in the humanities and the arts may be willing to take more fulfilling but lower-paying jobs. College professors, for example, often know that they could have made far more if they had gone to law school or gotten an M.B.A., but are willing to accept significantly lower pay to teach a subject they love....