College Graduates Are 177 Times More Likely To Earn $4 Million Or More

Sep 2018
6,679
1,112
cleveland ohio
#1
He literally wrote, “Let me be clear, the financial returns to graduating from a four-year college far outweigh any costs for the average student. Given the choice, I would much rather be a 22-year-old college graduate with $30,000 in debt … than an 18-year-old who decides not to enroll in college at all. The direct financial rewards of a degree are enormous, and don’t even begin to capture the many other dimensions that attending college can positively impact one’s life.”
College Graduates Are 177 Times More Likely To Earn $4 Million Or More
 
Dec 2013
33,428
19,254
Beware of watermelons
#2
In his outstanding book The Case Against Education: Why the Education System Is a Waste of Time and Money Professor Caplan rejects the idea that all education teaches useful job skills and those job skills pay off in the labor market. Instead, we learn our job skills on the job. A degree signals that students have the discipline to suffer through the boredom to conform to what society expects and what employers want.

You don’t use history or math on the job, unless you are a math or history teacher. “First and foremost: from kindergarten on, students spend thousands of hours studying subjects irrelevant to the modern labor market,” writes Caplan.

Caplan teaches economics at George Mason. He says he has a dream job. “I go to class and talk to students about my exotic interests: everything from the market for marriage, to the economics of the Mafia, to the self-interested voter hypothesis.”

He can train Ph.D. students to be economics instructors, but the rest? “I can’t teach what I don’t know.” Most of Caplan’s students will go on to have careers far away from economics.

Getting an A in European Literature doesn’t matter to an employer. What matters is degree holders’ “grasp of and submission to social expectations.” That degree from Wherever University shows you’re a team player, you’re deferential to superiors, you dress the part, you act the part, you’re not a racist or sexist, and your employer won’t “have to tell a modern model worker what’s socially acceptable case by case.”

Caplan gives it to the reader straight: “Hiring decisions, like all business decisions, are about prudence, not proof. People at the top of their class usually have the trifecta: intelligent, conscientious, and conformist.”

What You Really Pay for In College: Credentials, not Education | Doug French
 
Dec 2013
33,428
19,254
Beware of watermelons
#3
M.I.T. has been giving away classes online for years. The degree you have to pay for. Caplan makes a compelling case that the reported demise of traditional brick-and-mortar universities is unlikely. Sure, online courses are cheaper. However, for a student to prove his or her conformist chops, attending in person gives a stronger signal than completing online classes in your mom’s basement. Caplan makes the point that “life isn’t a game of solitaire. Schools build discipline by making students show up on time, sit still, keep their mouths shut, follow orders, and stay awake.”

Think about what the average employee does? School prepares the student for “doing boring work in a hierarchical organization.”

Students don’t want skills, they want credentials. “Employers could have substituted standardized tests for traditional diplomas a century ago. They didn’t,”Caplan writes.

Caplan spends much of the book debunking the human capital theory of education. Students never complain when an instructor cancels class, but if instructors were truly building student’s human capital, students would demand a refund for every cancelled class and the knowledge capital they should have received during that class period.

“Do we really transform waiters into economic consultants — or merely evaluate whether waiters have the right stuff to be economic consultants?” Caplan wonders.

So, are high school and college grads literate? Over half of high school graduates and nearly 20 percent of college grads are not at an intermediate level of literacy and numeracy. No wonder “high culture requires extra mental effort to appreciate — and most humans resent mental effort.” Americans spend only about $100 a year on reading materials, and “despite years of study, most adults historically illiterate.”

What You Really Pay for In College: Credentials, not Education | Doug French
 
Sep 2018
6,679
1,112
cleveland ohio
#4
In his outstanding book The Case Against Education: Why the Education System Is a Waste of Time and Money Professor Caplan rejects the idea that all education teaches useful job skills and those job skills pay off in the labor market. Instead, we learn our job skills on the job. A degree signals that students have the discipline to suffer through the boredom to conform to what society expects and what employers want.

You don’t use history or math on the job, unless you are a math or history teacher. “First and foremost: from kindergarten on, students spend thousands of hours studying subjects irrelevant to the modern labor market,” writes Caplan.

Caplan teaches economics at George Mason. He says he has a dream job. “I go to class and talk to students about my exotic interests: everything from the market for marriage, to the economics of the Mafia, to the self-interested voter hypothesis.”

He can train Ph.D. students to be economics instructors, but the rest? “I can’t teach what I don’t know.” Most of Caplan’s students will go on to have careers far away from economics.

Getting an A in European Literature doesn’t matter to an employer. What matters is degree holders’ “grasp of and submission to social expectations.” That degree from Wherever University shows you’re a team player, you’re deferential to superiors, you dress the part, you act the part, you’re not a racist or sexist, and your employer won’t “have to tell a modern model worker what’s socially acceptable case by case.”

Caplan gives it to the reader straight: “Hiring decisions, like all business decisions, are about prudence, not proof. People at the top of their class usually have the trifecta: intelligent, conscientious, and conformist.”

What You Really Pay for In College: Credentials, not Education | Doug French
Cherry picking, suppressing evidence, or the fallacy of incomplete evidence is the act of pointing to individual cases or data that seem to confirm a particular position while ignoring a significant portion of related cases or data that may contradict that position. It is a kind of fallacy of selective attention, the most common example of which is the confirmation bias.[1][2] Cherry picking may be committed intentionally or unintentionally. This fallacy is a major problem in public debate.[3]
The term is based on the perceived process of harvesting fruit, such as cherries. The picker would be expected to only select the ripest and healthiest fruits. An observer who only sees the selected fruit may thus wrongly conclude that most, or even all, of the tree's fruit is in a likewise good condition. This can also give a false impression of the quality of the fruit (since it is only a sample and is not a representative sample).
Cherry picking has a negative connotation as the practice neglects, overlooks or directly suppresses evidence that could lead to a complete picture.
A concept sometimes confused with cherry picking is the idea of gathering only the fruit that is easy to harvest, while ignoring other fruit that is higher up on the tree and thus more difficult to obtain (see low-hanging fruit).
Cherry picking can be found in many logical fallacies. For example, the "fallacy of anecdotal evidence" tends to overlook large amounts of data in favor of that known personally, "selective use of evidence" rejects material unfavorable to an argument, while a false dichotomy picks only two options when more are available. Cherry picking can refer to the selection of data or data sets so a study or survey will give desired, predictable results which may be misleading or even completely contrary to reality.[4]
 
Sep 2018
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cleveland ohio
#5

Cherry-picking is often used in science denial such as climate change denial. For example with deliberately cherry picking appropriate time periods, here 1998-2012, an artificial "pause" can be created, even when there is an ongoing warming trend.[5]
Cherry picking is one of the epistemological characteristics of denialism and widely used by different science denialists to seemingly contradict scientific findings. For example, it is used in climate change denial, denial of the negative health effects Cherry picking - Wikipedia