This is a brilliant analogy between the alchemist's paradox and today's educational system.
More education simply dilutes the value of education.
Ergo why I focus on statistics such as MBA graduates as a percent of the population and put more and more emphasis on the trades and 2 year programs than a bachelors degree in (well) pretty much anything.
People on the left constantly clamor for more education spending. Well, they got it. Tons of it. So much to the point that having an education is pretty much worthless and is nothing special. Education is now the new sausage party. You now need a masters degree. And if not that a doctorate. And oh, guess what? By the time you got your doctorate you not only have $100,000 in debt, you have no better job prospects because everybody else did what you did. And hey, by the way, how's that hope and change and stimulus coming along? Any of you recent Obamanaut 20 somethings fresh out of college employed? Yeah, how is that economy coming along? Too bad the republicans only took over the house. Stalemate from here on out my friends and at a 9% unemployment rate to boot.
Imagine though if you had just got yourself a trade or tangible skill such as roofing, or plumbing or programming, you would have spent only 2 years in school, a fraction of the cost, and would have been working for the past 10 years earning money instead of pissing it away on a progressively worthless sheepskin.
You can already start to see how similar the education bubble is to its housing bubble sister. I'm just wondering if (similar to the people who bought at the peak of the housing bubble) people with their masters in (fill in liberal arts degree name here) __________ are going to deny reality and "wait for the market to turn."
It won't kiddies. It simply won't. You want to know why? Because no matter what the aging hippie boomers taught you in "academia," in the real world (where the adults live), no economy progresses unless there is genuine economic production. And by "genuine economic production" we mean "you produce something people want."
Not "well roundedness."
Not "raising awareness."
Not "campaigning against the clubbing of seals skills."
Your doctorate in philosophy, women's studies or whatever worthless tripe you decided to avoid reality with and play "make believe I'm an adult" degree is now about as common as a TV reality show. It produces nothing of value and therefore you HAVE NOTHING OF VALUE (economically) to offer society. Your economic value is 0.
But don't listen to me. What do I know. I'm just an economic genius that's predicted every major and mediocre economic event since I was 20.
Go back to your lives people. Nothing to see here.