CDN:
The concept of inflation (the depreciation of purchasing power of a specific currency) applies to other goods besides money. Inflation is related to the Law of Supply and Demand. As the supply of a commodity increases, the value decreases. Conversely, as the good becomes more scarce, the value of the commodity increases. This same concept is also applicable to tangible items such as vintage baseball cards and rare art. These are rare commodities that cannot be authentically replicated and therefore command a high value on the market. On the other hand, mass-produced rookie cards and replications of Monet’s work are plentiful. As a result, they yield little value on the market.
Inflation and the opposite principle of deflation can also apply to intangible goods. When looking at the job market, this becomes quite evident. Jobs that require skills that are rare or exceptional tend to pay higher wages. However, there are also compensating differentials that arise because of the risky or unattractive nature of undesirable jobs. The higher wages are due to a lack of workers willing to accept the position rather than the possession of skills that are in demand. more
Mainly because the Internets bring so much information and education to anyone.
But also because school costs are increasing while the value they deliver is often decreasing as they focus on woke garbage.
Wait!!! You mean my Degree in Latino Lesbian Studies is losing it’s value? Oh… the humanity.
Dummy Up;
https://www.youtube.com/watch?v=UVAAV7_u144
My bachelor’s in Canadian music theory with a minor in Drake still has yet to pay off. Now I’m going for a certificate in underwater ball bearing stacking since that’s where the real money is.
Because Harvard has yet to renounce their cigar store prop Injun law perfesser and because for 30 years admission to universities prioritizes race, imagined past grievances, gender, etc et al, instead of what used to be the primary qualification: IQ.
GIGO. QED
And what created the oversupply of useless college degrees? George Bush’s Bankruptcy Reform Act which eliminated discharging of student debt in bankruptcy. This allowed lenders, whether they are private or government, to lend to borrowers regardless of borrowers credit, which in turn allowed colleges to charge whatever they wanted because people would borrow whatever the amount to attend. Think the 2008 real estate crash without the option of bankruptcy. Anyone can now go to college by just borrowing money to do it regardless of their credit worthiness. Then when the Kenyan federalized the student loan industry it snowballed to the mess we have today trillions in outstanding student loan debt from students with useless degrees who have flooded the market and devalued most college degrees.
What? I was told at the interview that my degree in transgender ceramic swimming was required for my barista job at Starbucks.
It can be summed up right here:
https://en.wikipedia.org/wiki/Florida_International_University_pedestrian_bridge_collapse
Even engineering and the hard sciences have been polluted by thee curse of political correctness. The bridge didn’t give a flying fuck about anyone’s precious feelings it came down and it wasn’t the bridge that killed innocent people it was fucking low bred, good for nothing, thrash bullshittery disguised as engineering that killed them. It is only going to get worse, my daughter was focused on the STEM curriculum and that excludes aspiring “artists” and that hurt their precious feelings, so now those classes STEAM are polluted with a bunch of dunderheads whose only purpose in being there is to make certain that the students with enough natural talent and drive to prosper in that environment have a bunch of low intellect, lazy, good for nothing artist wannabee’s bullshit to contend with while actually trying to accomplish learning higher level math and science.
The hell of it is, these dimwits are the ones who will be promoted into decision making positions in a fucked up society and end up killing people. But that is the goal, everything in a “progressive” society is geared toward increasing innocent human suffering, misery and death and this is just one way they go about accomplishing that goal.
Maybe it has something to do with the fact that today’s college grads know about as much as high school grads from seventy years ago.
Your average college grad can read well, but is usually such a pain in the ass that hiring a noncollege nonwoke nonbrat works out better.
The requirement for a degree in many fields was manufactured. My dad was just a high school graduate and he was THE representative for the oil company in Saudi Arabia and Nigeria when they wanted to drill a well. The company flew him in, he contracted to have roads built, hired people, trained people, got the rig on location and supervised the drilling through to production. He ran oil companies.
Don’t go hollering
But what about the doctor!!??
I’m not stupid. But many jobs can be well done by people who have worked their way up.
The value of a degree has been being eroded since the government started being the lender for college.
Dan
Close; but very incomplete. A U I think you know – that of “Goons at the Gate’ fame 10/64 (Old I am.) Sather – 60 years ago required all entrants to both have a better than 3.0 GPA and over 1,200 Board! Both Gov Browns lowered the Board Score for “the more equal”. Which in turn degraded the value of the degree. Long before non physics students were on “the net”!
Cal, now does not even require Boards! ?!@#$%^&*?
Been retired for years. But, were I again hiring I would not place much value on a degree which required little actual mastery of “the 3 R’s” .
My stepson dropped out of college after 2 semesters. He was bored. He worked his way into CAD and then engineering and then medical devices. Now he’s a senior engineer in marketing for a medical devices company. No degree, just lots of experience and competency. Guess what his firm values? Hint: Not degrees.