Has the decline of knowledge work begun?

Bachelor Degrees need a complete rethink, it was basically modified finishing school for rich capital owners, needing to make their children of proper class before they could take over their businesses.

It then became a vocational degree for the working class, despite being completely detached from useful skills for a wide swathes of degrees. The only value is that you could talk the talk and become a member of the professional managerial class if you impressed the right hiring committee/individual.

In spite of this, we decided the working class should take out crippling loans to pay for this degree, and be in debt for the rest of their working life.

It's not sustainable, and just forgiving the debt only will make it all more expensive and less aligned with actual results we desire (useful workers).

> despite being completely detached from useful skills for a wide swathes of degrees

It's a nice suggestion, but it's one that isn't supported by the evidence. Even controlling for other factors, a college degree makes more productive workers. And given that it's controlling for other factors, "selection bias" becomes a hard argument to make. STEMbros get real arrogant about their degrees (I have one; I've seen it first hand), but like it or not the person with an English degree still learned a lot of useful skills.

Going to uni to major in a specific career is how you get screwed when available careers change.

> Even controlling for other factors, a college degree makes more productive workers

I'd like to see this study. Most of the data I've seen that is pro-college still has massive confounds.

Two twins graduate high school. One gets a crappy copywriting job, and spends her free time reading books on how to write better, and specifically how to do copywriting. The other gets an English degree. I'm not nearly as confident as you are the one with the English degree is going to be a better copywriter.

I don't disagree you can learn skills, but cognitive science literature solidly shows far transfer is not a thing, and when it is it's incredibly inefficient. i.e. Reading the great works of Russian literature might make you a better copywriter but at a vastly slower pace than writing copy, or reading a book on copywriting.

I think an undervalued aspect of college over self learning for most is that college requires you to learn a broader array of things. If I was allowed just pick the classes I wanted to take for four years, they would have all been computer related classes. I would never had taken Chemistry, Physics, Drama, Psychology, History, International Relations, or anything that makes me a more educated and well rounded thinker.

We look at that positively becomes it's a sunk cost, but if someone were to put the circumstances in front of us would we still be happy about it?

If your job told you that you had to pay 10k to study French poetry for 6 months without pay, would you happy for the opportunity to a more well rounded thinker?

>If your job told you that you had to pay 10k to study French poetry for 6 months without pay, would you happy for the opportunity to a more well rounded thinker?

That's unrealistic.

  1. That's just one subject.
  2. Semesters and/or quarters are not 6 months.
  3. Most colleges don't charge $10K for one subject for 6 months.

Having said all that, yes there were some annoying class requirements that I didn't particularly care for, but I still learned something from it. If nothing else, it allowed me to have more conversations with a broader array of people. Make no mistake, being an educated conversationalist impresses people. Being able to intelligently converse with more people because of a broader knowledge base has significant social and economic value. Imagine if you met your perfect mate by being able to talk about French poetry. Imagine your perfect company has a hiring manager who also loves French poetry. We are ultimately social creatures.

What about lost opportunity cost though? Or the cost of failure?

My college intake class had 60 enter in the first year, and I was paying $2000 out of pocket a semester. Only about a quarter got the paper in the end; the rest either withdrew or flunked out. And from what I understand, 75% starting but failing to achieve a degree isn't atypical for that course.

What happens to those students? The ones that take on debt and then realize far too late that they can't handle the workload and have nothing to show for it but student debt, years of lost income, and no degree to show for it?

And even for those of us that made it though, I'm... still uncertain it was worth the price. Not just in dollars.

>What about lost opportunity cost though? Or the cost of failure?

Well for a high school grad today, most likely the opportunity cost is minimum wage service sector jobs. Those "temporary" jobs are also really easy to get stuck in for life. That's not a good life.

>Only about a quarter got the paper in the end; the rest either withdrew or flunked out. And from what I understand, 75% starting but failing to achieve a degree isn't atypical for that course. What happens to those students? The ones that take on debt and then realize far too late that they can't handle the workload and have nothing to show for it but student debt, years of lost income, and no degree to show for it?

They're fucked, but at least they know where they stand. They should know their chances with the standardized testing somewhat. You definitely shouldn't go to college if you don't have the aptitude or motivation, but you should go to some sort of trade school: electrical, carpentry, plumber, etc. The safest path to college is graduated study, community college for the AA, then full blown university for the last two. At least you get an AA degree, and if you can't handle community college, at least it isn't very expensive.

>And even for those of us that made it though, I'm... still uncertain it was worth the price. Not just in dollars.

The value proposition is pretty muddied with the negligent inflation of tuition over the past few decades, that is a certainty. Unless you are Ivy League, any college will do. I'm fortunate to live in a state where tuition for public college is on the lower end.

> You definitely shouldn't go to college if you don't have the aptitude or motivation, but you should go to some sort of trade school: electrical, carpentry, plumber, etc.

Why are you assuming they would fair any better in trade school?