Requires extremely coordinated incompetence to work.
It’s indeed an incredible waste that higher education is almost entirely a credentialing race; doesn’t mean it requires that much coordination or even incompetence. The root causes are simple (intense government subsidies + a natural race to the bottom to be Most Credentialed among the working class), and could only be fixed by people and institutions which aren’t fired if they govern incorrectly. Biden and Xi are simply optimizing for different things than the general welfare of their constituents. You should read this if you have the time.
For what it’s worth, however counterintuitive you find this, I am fairly certain I find the idea that schooling does anything worth paying for more counterintuitive.
It’s indeed an incredible waste that higher education is almost entirely a credentialing race; doesn’t mean it requires that much coordination or even incompetence. The root causes are simple (intense government subsidies + a natural race to the bottom to be Most Credentialed among the working class), and could only be fixed by people and institutions which aren’t fired if they govern incorrectly. Biden and Xi are simply optimizing for different things than the general welfare of their constituents. You should read this if you have the time.
For what it’s worth, however counterintuitive you find this, I am fairly certain I find the idea that schooling does anything worth paying for more counterintuitive.