They’ve got to stick together. Otherwise the proles might rise up and smote them all.
Mary Daly and Leila Bengali, two card-carrying members of the educational elite at the Federal Reserve Bank, take on the question of whether college is worth it. If kids stop investing in one industrial complex, they might give up on all of them.
Their answer is telling:
“ We show that the value of a college degree remains high, and the average college graduate can recover the costs of attending in less than 20 years. Once the investment is paid for, it continues to pay dividends through the rest of the worker’s life,…”
And while I’m sure their numbers make sense in some version of reality, I sense they’re missing points like this:
- Many people are underemployed twenty years after their degree. There’s a massive amount of age discrimination. Somehow having a degree isn’t as valuable as being 23 and unfettered.
- We’re talking about “averages” here. There are many below average and they’re effectively crushed by the system.
- Twenty years is a long time. You used to be able to work your way through college and effectively recover your costs in ZERO years!