Must-Read: Marshall Steinbaum: Would Graduating More From College Reduce Inequality?
Must-Read: Would Graduating More From College Reduce Inequality?: “All of these phenomena suggest that the labor market isn’t working for most employees…:
…problems that aren’t confined to those without a college education—and that suggests the problem isn’t that too few people have college degrees. Rather than focus on education attainment as the solution to inequality, it’s time for policy-makers to move on from the race between education and technology and focus on our stagnant labor market. As Summers said, ‘the core problem is that there aren’t enough jobs.’ The key to reducing inequality is more jobs and a higher demand for labor. In the absence of more jobs, heroic assumptions about educational improvement are likely to deliver only modest economic benefits.