
Bryan Caplan's controversial masterpiece challenges our trillion-dollar education system, arguing it's mostly wasteful signaling rather than skill-building. Even theoretical computer scientist Scott Aaronson acknowledges its data-driven brilliance. Could your degree be just an expensive status symbol?
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What if our entire education system-the institution we've been told is our greatest hope for social mobility and economic progress-is actually a massive waste of time and resources? This provocative thesis challenges everything we think we know about schooling. While most economists view education as building valuable skills, compelling evidence suggests education primarily functions as an elaborate signaling system where students jump through hoops to prove their pre-existing qualities to employers. As college costs skyrocket and student debt exceeds $1.7 trillion, this perspective has never been more relevant. The disconnect between classroom learning and workplace needs isn't just frustrating-it might reveal education's true purpose.
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