Must-Read: Perhaps I have fallen down on the job. Perhaps I have not EconomistSplained enough to the very sharp Eric Loomis that the Education Fraction does not believe that everybody ought to get a college education. The Education Fraction, rather, believes that the demand for college-educated workers is relatively inelastic, so that small increases in the relative numbers of college-educated workers will produce large decreases in the college wage premium and large increases in the wages of high school-educated workers. They–we–may be right and we may be wrong. But it’s not that we completely ignores the fact that some people are simply not cut out for a college education. Rather, we believe in supply and inelastic labor demand…
: Jobs for Those Who Lack College Degrees: “As I have stated many times here…
…the United States has to create dignified work for people who can’t or haven’t earned a college degree. It’s simply terrible policy to blithely claim that education will solve our problems because it completely ignores the fact that some people are simply not cut out for a college education. And that needs to be OK…