Critical Analysis : Why Education Is Not An Economic Panacea

One of the biggest complaints about a college education is the large price tag that comes with it. A national survey found that 75% of adults in the U.S. think that college is too expensive to afford, showing that a majority of the people in the U.S. agree that colleges should lower prices (Source F). As Source A says, college is about learning but the goal in life is to earn a living (Crawford). This means that while you need to earn a living, college isn’t the only route you can do so. There are careers that don’t require education beyond high school and you can still make a respectable income. It’s easy to see that not enough people realize you don’t need a college degree to get a good job.

Andrew Simmons published his article for The Atlantic, “The Danger of Telling Poor Kids that College is the Key to Social Mobility” on January 16, 2014, which raises his concerns that higher education is only being promoted as an opportunity to increase their economic status, when it should be an opportunity to experience an education (Simmons). Through the use of students such as Isabella, Simmons disagrees with the way students now look at higher education and blames the educators through the students’ lives for this view. Instead, Simmons views education as an intellectual opportunity rather than a way to elevate ones economic class which is all people see when they see “higher education.” He believes that education, ambition and work ethic is how you have a satisfying life, not with how much you make. He makes the point that when economics becomes the main goal of education it’s all children begin to think about and they might not pursue something that they are truly passionate about or what they want to learn about, which then does not create an intellectually awakening experience (Simmons).

Supporters of getting a college degree often point to the statistics that college graduates earn more than their high school educated peers over a lifetime. Statistics by the U.S. Census Bureau reports that since 1977, “Adults with bachelor's degrees in the late 1970s earned 55 percent more than adults who had not advanced beyond high school. That gap grew to 75 percent by 1990 -- and is now at 85 percent.” A gap of an 85% pay difference is a huge figure and a clear reason why college is a great option for some people. But there are problems with that figure because when the number of college graduates who are either unemployed or underemployed is taken into account it changes the value of the statistic. In an article by Businessweek’s Richard Vedder we get statistics to counter that argument. He tells of how the number of new college graduates far exceeds job growth in technical, managerial, and professional jobs where graduates traditionally have searched for employment. As a consequence, we have underemployed college graduates doing jobs historically performed by those with just a highschool education. He says we have “more than 100,000 janitors with

The idea of a universal education system is criticized by many, because the idea of giving everyone a chance to prosper, has a detrimental effect on government resources; and the value placed on a post- secondary education, is somewhat diluted. This is wrong though, as people be judged on their academic skills, character and drive above their economic restrictions. The finances which a young person is born into, should not determine the life and career which they have. It has been shown that a college education increases a person’s earning power, but this education is contingent on money, which dictates your chance of achieving a recognized education. This is against the ‘education gospel’ which supports the idea that schooling should be for everyone, and that the more people who are educated, the less prejudices there will be in society. Education is universal, but post-secondary education, and one which leads people to positions of power and influence, is not. It is for the select few, of whom have the finances and opportunities to prosper that other, more underprivileged people do not, and that needs to change.

The topic of “Are Too Many People Going to College?” was presented by Charles Murray, the W.H. Brady Scholar at the American Enterprise. In today’s world college is a must due to many employers seeking educated individuals. Murray develops an interesting conversation by demonstrating that many high school graduates who are seeking to go to college do not need a degree depending on their career paths. Murray provides the analogy of a high school graduate who is looking to become an electrician but is not sure if college is the most logical decision. Murray acknowledges the fact that a B.A. does not necessarily led to a higher income than one with a degree. The logical argument of money is brought to attention and is stated “the income for the top people in a wide variety of occupations that do not require a college degree is higher than the average income for many occupations that require a B.A.” (Murray 247). Although this is his main point, he understand that it varies due to the occupation one is leaning towards. There has been individuals without a college degree that are making millions of dollars, but it varies. Murray claims that getting a B.A. is going to be the wrong economic decision for many high school graduates (Murray 246); however not everyone wants to be an electrician or any other hand held jobs that doesn’t necessarily need a degree, but if one wants to be a lawyer, doctor, or anything require a degree, college is the answer. Having a degree in a

Education has various connections with almost every aspect of everyone’s life. Thus, the higher the level of education people are able to reach, the more benefits it has on the individual’s life and the society in general. Therefore, David Leonhardt argues in his article “Is College Worth It? Clearly, New Data Say” that the decision not to attend college is “among the most economically irrational decisions anyone could make,” in spite of the cost of attending college which will be paid off in the long run. Consequently, high education is considered as a major factor in solving economic problems and improving the economy, among other solutions.

Have you ever just stopped to think about what it must be like to be “qualified” for a job yet be unemployed and homeless? Starving on the streets because you paid everything you had to an institution that was supposed to guarantee a better life, a more stable and successful career. Obviously this is an extreme case, not everyone who pays for college ends up living on the streets and broke, but almost every college graduate is in debt. For as long as college has been around it has always meant a better life, it’s always been that people who went to college were more successful, smarter, and would make way more money than someone who didn’t go to college ever would. Lately, however, college has become so expensive that going to college will more than likely leave you in debt working for years upon years just to pay back what you owe and then start making money for yourself.

When you think of college, you think of all the classes you will be taking, the amount of homework the professors butcher you with and how you might not have time for any outside activities. What people do not think about, is that a college degree will provide them with a job that will provide money for their bills and needs. Robert T. Perry wrote, On “Real Education” and he says that “His pessimistic view of people’s ability to learn ignores not just good evidence to the contrary but the real pressures the American economy is facing. Removing some 80-90 percent of our students in my state or just about any state would interrupt the pipeline of skilled working, making it nearly impossible to meet

As it is heavily believed and statistically proved by Document A, Earnings and Unemployment Rates Based on Educational Attainments (2015), the higher the degree earned, the more money attained, similarly the higher the degree earned, the lower the unemployment rate. This proves the worth of college by giving numerical comparisons of those who invested in it verses those who didn’t. The median weekly earnings of $1,730 from someone with a professional degree put up against the $678 from someone who only graduated from high school shows a very obvious difference. This information greatly supports the decision of going to college by displaying the “in the long run” advantage of college through the amount of money you can make in the future with the degree you earn

In Edward McClelland’s essay “RIP, the Middle Class: 1946-2013,” McClelland discusses to his audience that the middle class is slowly vanishing and soon enough we will only be left with the rich and the poor. Throughout the essay, McClelland uses various examples to demonstrate how the middle class will no longer exist. McClelland talks about how education is vital for pursuing a job at a reasonable pay that a person can live off of. Before, people were able to leave high school and go straight into a job with a pay that could support them. Nowadays, the same jobs that were supporting people before require a lot more education and still aren’t giving enough money that will allow them to live comfortably. Even though there are still jobs people can thrive at that will make more money without a serious education , the middle class is struggling to make it economically, because it is harder to find a job without education and financially it’s harder to make ends meet.

Opponents may argue that pursuing higher education is an investment for the future that will aid in one’s future finances, however, the costs of college, both opportunity and monetary, far outweigh the benefits. Nemko also addresses the counterargument by accentuating that many college graduates serve jobs below the value of their degrees because they pay more through the stories of Jill Plesnarski and Brian Morris.

As a recent analysis, America’s colleges and universities are quietly shifting the burden of their big tuition increases onto low-income students, while many higher-income families are seeing their college costs rise more slowly, or even fall” (Eskow). Though education is the basic human right, most of the people in the U.S. are not being able to gain it as because of its rising cost. Since the 1970s, tuition and fees at public institutions have increased by more than 350 percent, while pay for working- and middle-class households has stagnated. As a result, the cost of a public-college education now accounts for almost 15 percent of the average family's annual income; 40 years ago it was about 4 percent (Kenneth W. Warren and Samir Sonti). The tuition and fees are increasing in such a way that the young Americans aren’t as educated as the young citizens of many other developed countries. The U.S. ranks 14th in the world in the percentage of 25-34 year-olds with higher education (42%).” When all adults of working age are considered, the US is still one of the highest-educated countries in the world. But when this age group is considered, we are falling behind (Richard Eskow). That’s the personal loss for the young people of the U.S. Education is not a privilege of the rich and well-to-do; it is the inalienable right of every people. It is a powerful tool by which people can lift

In their article “Should everyone go to college?” Stephanie Owen, Senior research assistant, and Isabel Sawhill, former Vice President of the Brookings Institute, argue that many factors lead to individuals not being able to attend college. They go on to claim these factors to be school choice, career field, graduation, and area of study. The article states that while on average the rate of return is usually positive, there are cases in which it is negative. One of their focal points is what it cost to attend college and its affordability. Claiming that with the rise in the cost of college, which progresses at a faster rate than that of the job wage increase, that college is becoming less affordable. In their conclusion a three step policy plan is included for individuals who plan to attend college. While realistically I agree that yes, some individuals should not go to college, my optimistic side would like to believe that everyone should and can go to college without it becoming a sour investment.

Educational Researcher by Gloria Ladson-Billings looked into the ratio between education and achievement and what the gap was between them and how to fix it. According to an interview with strict economist Professor Emeritus Robert Haveman of the University of Wisconsin’s Department of Economics he makes it clear by stating that “ In order to reduce the debt or gap in one being achievement you must then close the gap of the other being education” Ladson-Billings also goes on to recognize the parallel between not only your economic status when it comes to education but how well your parents did before you among many other things including your health along with your overall well being playing a factor into your education ( Ladson-Billings, Oct 2006, P 5). Additionally the first teachers of a student are their parents whom in the home are responsible for teaching their children the basic fundamentals they must adhere to within society in order to navigate throughout life.Thus giving them many opportunities to experience cultural and life development (Wilburn, Smith & Hill-Carter, 2013, P 242). This research ties into chapter three of our book where education is discussed and one such topic that Michael’s remarks upon would be annual family incomes and how depending on what is made shows what the students of the

The living wage movement is an economic reform movement that has become one of the most important public policy issues that has come up within the last 10 years. Although there is no single definition, it is often defined as an hourly salary that allows working families of four to have an income that is above the federal poverty line. This means that the livable wage laws often stipulate that hourly wages should be two to three times above the federal Mininum wage. However, unlike the Mininum wage, the living wage has so far only been enacted on the county and city level. Cities and counties enforce the living wage for companies that have contracts with their respective cities and counties, receive subsidies