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A comment on Incentives in economics are wrong, but how?. Parent comment

Re:Incentives in economics are wrong, but how? by ta1234567890 on Friday June 11, 2021 @12:32PM (#27475400)
Not OP. My interpretation is that society doesn’t really need as many university degrees as we are producing. Not because of competition but because not all jobs require a college degree, and ideally we should be increasing the pay of those jobs.

It might be better to adopt a model similar to the German or Swiss, in which people follow different tracks depending on their skills and interests, and not everyone goes to college, instead a lot of people go to trades schools. Of course for that to work in the US a huge societal change would need to happen first or alongside.

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Re:Incentives in economics are wrong, but how? by whimsicalism on Friday June 11, 2021 @12:45PM (#27475593)
> ideally we should be increasing the pay of those jobs.

The pay of which jobs? The ones that require a college degree or not.

> Not because of competition but because not all jobs require a college degree

And are the number and prospects of these jobs increasing or decreasing?

I also find this whole conflation of having a college degree and being an elite silly. The problem seems much less to be that we have too many educated people and seems much more that wealth is concentrated by the small subset of wealthy people who "got here first" and then get the compounding returns.

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