No one is going to get past the idea that "college equals job" until it's not true anymore.
The conundrum we're in now didn't start with higher education catering to customers who wanted future wealth. It started with employers offering high-paying jobs realizing that higher education was a sign of all the qualities they wanted, so they started mandating it. Universities adjusted accordingly.
I'm pointing out the obvious, of course, but it's because I've seen a lot of people say things like "we need to get over this idea." That's not going to happen until there is a ready supply of high-paying jobs that don't require college degrees, or until someone finds a method for achieving a high-paying job that doesn't require college but is just as straightforward and successful.
I'm not sure that it is true. There is no data I have been able to find that supports the claim and there has been several articles on HN lately that strongly support the opposite view.
The best I have been able to find on the matter is one study that shows a loose correlation between those who have a formal education tend to have a higher income. Which, of course, says nothing about the effect of the education on the resulting job.
The conundrum we're in now didn't start with higher education catering to customers who wanted future wealth. It started with employers offering high-paying jobs realizing that higher education was a sign of all the qualities they wanted, so they started mandating it. Universities adjusted accordingly.
I'm pointing out the obvious, of course, but it's because I've seen a lot of people say things like "we need to get over this idea." That's not going to happen until there is a ready supply of high-paying jobs that don't require college degrees, or until someone finds a method for achieving a high-paying job that doesn't require college but is just as straightforward and successful.