Re:Unimpressed by online classes, college students file laws...
by addicted on Monday May 04, 2020 @06:22AM
(#23066363)
Fundamentally attending college has an implied understanding of completing college. That almost completely explains the non linear gains from graduating.
It’s similar to closing a house sale. The money earned by brokers who get the buyer to sign the contract is exponentially more than the money earned by the brokers who only get 90% of the way there.
That doesn’t mean that the value of the initial 90% of the work is 0.
Of course, this is an extreme example for illustration purposes, because real estate is a step function where the returns go from 0 to 100 at a single point.
The exponentially higher earnings of grads can similarly be explained as a step function where earnings go from 50 to 100 after a certain event. And it’s not even that surprising, because the event in question is completing the thing that you actually stepped out to do.
It’s similar to closing a house sale. The money earned by brokers who get the buyer to sign the contract is exponentially more than the money earned by the brokers who only get 90% of the way there.
That doesn’t mean that the value of the initial 90% of the work is 0.
Of course, this is an extreme example for illustration purposes, because real estate is a step function where the returns go from 0 to 100 at a single point.
The exponentially higher earnings of grads can similarly be explained as a step function where earnings go from 50 to 100 after a certain event. And it’s not even that surprising, because the event in question is completing the thing that you actually stepped out to do.