There will almost surely be a surplus of college graduates on the market for at least the next decade. Such a glut will have serious effects on the economy, on national policy and on the future of higher education ... Harvard economist Richard Freeman and MIT professor J. Herbert Hollomon have been studying the college market for the past several years. "We have arrived at a point where a growing number of people may be destined to remain unemployed - or, by implication, over-educated," they conclude. In the long run, this may mean "the virtual end of education as a means of upward mobility in society." For the first time in American history, they warn, large numbers of young people may deliberately choose to become less well educated than their parents.
Thursday, May 19, 2011