Are Too Many Students Going to College?

There’s an inter­est­ing dis­cus­sion in an arti­cle at the Chron­i­cle of Higher Edu­ca­tion address­ing the ques­tion of whether too many stu­dents are going to col­lege. Bryan Caplan responds to one of the ques­tions with:

Col­lege atten­dance, in my view, is usu­ally a drain on our econ­omy and soci­ety. Encour­ag­ing tal­ented peo­ple to spend many years in waste­ful sta­tus con­tests deprives the econ­omy of mil­lions of man-years of out­put. If this were really an “invest­ment,” of course, it might be worth it. But I see lit­tle con­nec­tion between the skills that stu­dents acquire in col­lege and the skills theyll need later in life.

Bingo! Some­body just hit the nail on the head. What bet­ter ratio­nale for a com­plete rethink­ing and rede­f­i­n­i­tion of higher edu­ca­tion than the above state­ment. The whole arti­cle is worth a read.