Higher Ed, Income Inequality & the American Economy (Part 2)

Will more and better education fix the economy?

Last week, I provided an overview on a topic of vital importance: the highly uneven nature of America’s economic recovery since the Great Recession of 2008. Corporate America and its shareholders are doing very well – but the great majority of wage earners are not. What accounts for this unevenness? Noted Harvard economist Gregory Mankiw is quoted as saying, “The best way to address rising inequality is to focus on increasing educational attainment,” (The New York Times, “Income Inequality and the Ills Behind It,” July 30, 2014). Is this statement true? Or does the real answer lie elsewhere?

The Ultimate Question: “Is College Worth It?” (Part 6)

Our six-week exploration unearths a clear answer to that question

We’ve spent five weeks looking at the question that continues to be the focus of reports and articles in the media – “Is college worth it?” – from the standpoint of four distinct concerns: its perceived lack of affordability; the burden of debt that faces so many graduates; the relative scarcity of well-paying jobs for recent college graduates; and the risk that a student will borrow money, not complete his or her course of study, and be economically worse off than if he or she had never started. (As an aside, I should note that the question of the worth of a college education has been so frequently asked that it is now being satirized. The Onion recently posted the following headline on its website: “Study Finds College Still More Worthwhile Than Spending 4 Years Chained to Radiator.”)