Too Many College Graduates?

The AP reports on a growing sense among policy wonks that too many Americans are going to four-year colleges, to the detriment of society as a whole: "The more money states spend on higher education, the less the economy grows." "The notion that a four-year degree is essential for real success is being challenged by a growing number of economists, policy analysts, and academics. They say more Americans should consider other options, such as technical training or two-year schools, which have been embraced in Europe for decades. As evidence, experts cite rising student debt, stagnant graduation rates, and a struggling job market flooded with overqualified degree-holders. ... The average student debt load in 2008 was $23,200 — a nearly $5,000 increase over five years. Two-thirds of students graduating from four-year schools owe money on student loans. ... [A university economist said,] 'If people want to go out and get a master's degree in history and then cut down trees for a living, that's fine. But I don't think the public should be subsidizing it.'"

Comments

Re:Democracy needs smart people

[Androclese]

In that case, I'd have to question the social utility of colleges in a capitalist economy. The number of English and Philosophy majors capitalism can profitably use is vanishingly small, where the number of Engineers and actual professionals capitalism can use is comparatively huge.

America, currently being a Free Capitalist Market (hey, only 33% of it is Command, Give His Highness some more time to fix that) means that we can have as many English & Philosophy Majors as the market can bear. If they cannot find a job in their market, then they can go perform unskilled labor.

Still more needed, though, is UNSKILLED LABOR, apparently, given the eternal quest by our crony-controlled federal government for illegal aliens and the amount of times I've heard "You're overqualified" from HR idiots.

Fixed that for ya.