College is Great, Sort of

The beginning paragraph says:

Is college worth it? Given the growing price tag and the frequent anecdotes about jobless graduates stuck in their parents’ basements, many have started to question the value of a college degree. But the evidence suggests college graduates have suffered through the recession and lackluster recovery with remarkable resilience.

But further down we read:

There is ample evidence that employers are hiring college-educated workers for jobs that do not actually require college-level skills — positions like receptionists, file clerks, waitresses, car rental agents and so on.

“High-skilled people can take the jobs of middle-skilled people, and middle-skilled people can take jobs of low-skilled people,” said Justin Wolfers, a professor of public policy and economics at the University of Michigan. “And low-skilled people are out of luck.”

So what's the point of putting a third of the population through four years of schooling for jobs that, in terms of their actual skill requirements, could be done by high school drop outs? Answer: Rent seeking. Lots of jobs for otherwise marginally employable teachers and education administrators.

 

Comments

[Dwayne]

Well said. And so many in debt with student loans helping the destitute banking industry too.