Ep. 548: Dr. Bryan Caplan – Why the Education System Is a Waste of Time and Money

His thesis:
"Civilized societies revolve around education now, but there is a better—indeed, more civilized—way. If everyone had a college degree, the result would be not great jobs for all, but runaway credential inflation. Trying to spread success with education spreads education but not success."

Discussion:
– Bryan’s distinction between schooling and education, and why he chose that title
– the book as a response to the "college for all" mentality
– What are the most damning statistics or studies that encouraged this book?
– Credential Inflation: what is it and how it it costing people?
– The complexity of the "education premium" – a frequent counterargument to the futility of a college degree – is higher earnings for college degrees correlative or causative? It’s disguised reward for traits many people would have had without school
– Signaling: college degree signal conformity.
– A better credential than a college degree
– How to thrive in a system that probably isn’t going to change
– can online education ever be competitive with traditional higher education?

Related Shows:
[PODCAST] #384: Professor William Boyes – The Demise of Government School and the Future of Academia
[PODCAST] #385: Putting College Race Tensions In Context
[PODCAST] #375: College Debt – The Most Expensive Lesson of All Time?

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