Bryan Caplan says that:
When you actually experience education, though, it’s hard not to notice that most classes teach no job skills.
The labour market heavily rewards educational credentials even though academic curriculum is seriously disconnected from the jobs people actually do.
The best explanation for this strange fact is that education is a strong signal of pre-existing worker productivity.
Caplan argues with annoying persuasiveness that education signals desirable employee traits such as intelligence, conscientiousness, conformity and a willingness to learn boring things:
- Most education is for sending a signal to employers that you can jump through hoops to show off your IQ, work ethic, and conformity.
- Schools and universities do not to produce wisdom, information, critical thinking or human capital.
- Subsidising education creates an arms race of credentialism as each student attempts to acquire more and more education than their rival job applicants.
His particular focus is the educational…
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