New college grads: could be worse

It’s become an article of faith lately that there’s little point in going to college—you just end up deep in debt and unemployed. That’s not really true, at least the unemployed part. The Federal Reserve Bank of New York—which has shown an unusual interest in the state of the youth lately, having also developed its own data on student debt—is just out with a presentation on how recent college grads have been faring in the job market. (It’s part of a longer presentation that begins on p. 11 of this PDF.) The… Read More

Chomsky cites LBO

In a recent talk he gave in Canada (Public Education Under Massive Corporate Assault), Noam Chomsky cites my LBO piece on the costs of college, and how easy it would be to make higher ed free in the USA: Now that’s one important way to implement the policy of indoctrination of the young. People who are in a debt trap have very few options. Now that is true of social control generally; that is also a regular feature of international policy — those of you who study the IMF and the World Bank and… Read More