Priest begs for more tithes on behalf of the peasantry https://twitter.com/HeatherGautney/status/1143191218110763008 …
See my comments earlier today about the variance of the wage premium and its correlation with class, resources and competence. It piles risk on the shoulders of those with the smallest reserves.
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And just looking at graduation rates and the distribution of majors, it should be clear that it's not a tiny minority getting screwed.
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The studies of the causal component generally look at marginal students (because it's easy to get an instrument).
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But also the universe where the marginal student earns a much larger premium than they pay in tuition and opportunity cost seems like it has a much bigger problem than the one where the marginal student is making a risky and not-clearly-optimal choice.
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The other issue is the recession. A lot of people graduated into a terrible job market. But the job market was much *worse* for non-college graduates; thus the estimated premium remained high, but graduates were still immiserated.
End of conversation
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.