Kieran Madden
“The higher education system is a colossal waste of time and money –far more about signalling to future employers than gaining skills and knowledge.”
The above is a provocative (and highly educated) comment of Economist Bryan Caplan, author of the recently-released book, “The Case Against Education.”
Without going quite so far, I think he is onto something.
Skills not developed
“Typical students burn thousands of hours studying material that neither raises their productivity nor enriches their lives,” he argues, citing evidence that we forget most of what we learn. But if this is true, why do students continue to slog through classes year after year, and why does their earning potential rise despite not necessarily developing the skills and knowledge to be better workers?
Signalling Solution
Signalling is the answer, according to Caplan.
He explains that there are two ways to raise the value of a raw diamond: “One is to hand it to an expert gem-smith so that he can beautifully cut the stone; the other is to hand it to a reputable appraiser so that he can certify the pre-existing excellence of the stone.”
The former is about adding actual value, the latter about signalling the vast potential value that lies inside.
While we like to think education is all about gaining knowledge and skills and maybe a little about “the piece of paper,” Caplan reckons it is more like 80% signalling.
“Even if what a student learned in school is utterly useless, employers will happily pay extra if their scholastic achievement provides information about their productivity.”
Three factors
Higher education as certification works because employment and education call for a similar “package” of strengths.
Caplan says education signals three things: intelligence, work ethic, and conformity.
All three are important, just taking an IQ test, for example, does not show an employer that the individual will work hard.
As we increase access to higher education, we reinforce what Caplan calls a “Credentialist arms race.”
A degree does not mean as much as it used to for employers, forcing young people to study for longer and longer to get ahead of the pack.
Just think on what else students could be spending their time.
Strong Challenge
Caplan’s strong challenge to some of our fundamental assumptions should open our eyes to the existence and significant costs of this kind of signalling.
If we think that we are building human capital but are instead just doing employers, hiring homework for them, then education as it stands is a waste of time and money.
I am with him here, there must be a better way.
He thinks that there is too much education.
The solution is to reduce access not increase it, promote apprenticeships and get rid of “irrelevant” subjects like history and arts while we are at it.
I do not t buy it, entirely anyway.
Education is about more than just a means to a well-paid job, done well it is also about learning what it means to be human, building character, and developing relationships. Scarcity might raise the value of diamonds, but there is no shortage of potential in our children. Shaping will develop this, signalling will not.
Kieran Madden is a Researcher at Maxim Institute based in Auckland.
(Picture Supplied)
