Thursday, September 09, 2010

Megan on the Education Bubble

Many of you (OneSTDV, Default User, Whiskey) have written posts on variants of the theme that we are busily inflating an Education Bubble.  If the topic interests you, be sure to read Megan’s post on the subject.  For instance:

2)  [W]e may simply be stuck in a bad equilibrium.  In a world with anything short of lifetime employment, it doesn't do a would-be success any good simply to find one employer who uses an alternate signaling mechanism, which may make him unwilling to risk skipping college.  Conversely, an employer willing to reward an alternate signaling mechanism first needs to find a bunch of conscientious, high-IQ kids with middle-class social capital who have skipped college to participate in this alternate mechanism.


Anonymous said...

My Worst Employer Ever actually did sidestep the whole "college degree" thing in favor of a series of tests (IQ, personality profiling, and ethics). Their bread and butter was getting people with lots of intelligence but no degree (or no marketable one) and give them IT jobs and then take advantage of the fact that they wouldn't have a whole lot in the way of other options out there.

Anonymous said...

College seems to be the subject this week. It is interesting how ideas spread like that.

I suspect that requiring a college degree is the least likely way to bring a disparate impact suit by the EEOC or others. That may be the reason other "signaling" methods have not been attempted.