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Education – a bubble??

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  • Tue, Sep 08, 2009 - 07:31pm

    #1
    britinbe

    britinbe

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    Education – a bubble??

With all this talk of post industrial economies (basicallly everyone else doing the West’s dirty work).  Is education a bubble?  In the UK, the number of people going onto University has increased dramatically over the last 15 years with seemingly little added value other than to underline a stronger sense of entitlement syndrome based on those that pass in front of me for interview.Laughing

Perhaps controversial, but what level or spread of education will make for a balanced society, or are we heading the way of India where even a vocational PhD sometimes isn’t enough for a factory operators job?

  • Tue, Sep 08, 2009 - 10:00pm

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Education – a bubble??

britinbe,

I think your point is well taken.  And, I have to wonder, given that 25,000,000 are unemployed in the U.S. alone, whether folks who are not the absolute “brightest and best” will not have to eventually realize that a college degree is not necessarily a guarantee of a high paying job anymore.  Although this IS true in some highly specialized areas, I don’t think it is true anymore, as general rule.

I still believe a college education is a great ticket to broaden one’s understanding.  I do not believe that it guarantees that they will make hundreds of thousands of dollar more than their counterpart who did not go to college.  Things have certainly changed since I earned my bachelors and masters, many, many years ago.  I suspect the entitlement syndrome that you mention is just going to cause a lot of problems for those folks, who hold that attitude.

  • Thu, Jul 15, 2010 - 11:19am

    #3
    Peak Prosperity Admin

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    Re: Education – a bubble??

In the case of India as you have pointed out britinbe, some 15-20 years ago there were many educated youth in the country but not enough job opportunities and hence those who could afford to study aboard would do so and find a job in countries like Australia, the US and UK. While those who could not find a decent were left job less.

Ever since government policies were liberalized and private companies were allow to enter sectors like education, telecommunication, power generation etc there has been a significant improvement in job opportunities in India. A basic college degree will not get you a decent job anywhere in the world, you have to strive for higher education to find a decent job today. Or probably use your education and knowledge to start a business of your own.

There are some college dropouts who have become billionaires and some with master’s degree are working at a car wash garage.

  • Sat, Dec 25, 2010 - 11:40pm

    #4
    Peak Prosperity Admin

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    Re: Education – a bubble??

The fear behind No Child Left Behind in the U.S, is that there will be no jobs at all for people without education, and then there is the fear that our education might not be good enough to compete to hold jobs here in the U.S.  The factory jobs are gone, and jobs that can be outsourced are going.  Companies are getting leaner and doing without poorly trained personnel.  Education doesn’t guarantee a salary, but it could prepare you to have some flexibility.

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