How much of the college education premium is payoff to useful human capital?

[KrazyHorse]

flash, revealed ability commands a far higher salary. This increased salary is the means by which employers pay for the college education of their workers.

[Elok]

I would like to say that a college education is important in creating an educated populace. A populace that can appreciate art, understand a basic level of science, and determine things rationally.

Trying to defend the liberal arts never really worked here before...

[KrazyHorse]

That's because it's indefensible.

[Elok]

In terms of quantifiable benefit, certainly. But hey, I went to a private liberal arts college.

[Jon Miller]

It is convoluted, but the linked pdf shows that college education is correlated with important but not directly economic related properties like high voter turnout, better health (and choices, like not to smoke), and better care for the young.

It could be argued that some of these benefits come from the liberal arts education.

JM

[rah]

Any degree has value. Even Liberal Arts degrees.

It's the entry ticket into the adult world. Once in, it has limited value.

[flash9286]

flash, revealed ability commands a far higher salary. This increased salary is the means by which employers pay for the college education of their workers.

I know this. But my question is this the most efficient way to discriminate between productive and less productive workers. Any signal that indicates increased producitivy will (presumably?) get you a higher wage.

[Asher]

Any degree has value. Even Liberal Arts degrees.

It's the entry ticket into the adult world. Once in, it has limited value.

That's true. The largest grocery store chain in Canada is hiring hordes of Liberal Arts graduates to be assistant store managers. Was a big article on it in the paper recently.

When the shelves are stocked at Superstore, I know I can thank the public's investment into Poli-Sci and Sociology degrees.

[KrazyHorse]

flash

Yes, but employers do not operate in a vacuum. Due to adverse selection in the pool of people who don't go to/complete university an otherwise more efficient selection strategy might prove unfeasible.

In other words, the equilibrium is path-dependent.

[rah]

When the shelves are stocked at Superstore, I know I can thank the public's investment into Poli-Sci and Sociology degrees.

My Poli-Sci degree has served me quite well. I'm glad I switched from computer engineering since I make more than those that I keep in touch with that didn't switch.

[KrazyHorse]

Is that the sort of logic that poli-sci taught you?

[rah]

Yes, they stayed technical and I went technical management which is much more lucrative.

[KrazyHorse]

And your poli-sci degree helped you do that?

[MORON]

It a useful signal of evil factor.

[rah]

Yes, it helped my people and communication skills which is what was desired for the management track. "Hey there's a tech that can speak English and isn't an arrogant ass like most techs. He must be management material" Now I agree that I had those skills prior, but doing a more general degree improved them. They didn't teach people skills in the engineering college. You are reasonable proof of the lack of people skills demonstrated by the more scientific types.