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Home / Cyril Morong: Dangerous Economist / Why do employers pay extra money to people who study a bunch of subjects in college that they don’t actually need you to know? Signaling

Why do employers pay extra money to people who study a bunch of subjects in college that they don’t actually need you to know? Signaling

Summary:
See School Is Expensive. Is It Worth It? For your kids, yes—at least assuming they graduate. But the author of ‘The Case Against Education’ says the benefits to society are vastly overstated. WSJ interview with James Taranto and economics professor Bryan Caplan. Excerpts: "Mr. Caplan’s case against education begins by acknowledging the case in favor of getting one. “It is individually very fruitful, and individually lucrative,” he says. Full-time workers with a bachelor’s degree, on average, “are making 73% more than high-school graduates.” Workers who finished high school but not college earn 30% more than high-school dropouts. Part of the difference is mere correlation: Mr. Caplan says if you adjust for pre-existing advantages like intelligence and family background, one-fifth

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