Josh Mitchell
speaker
438 appearances
7 recordings
1 series
first heard Jul 2017
last heard Feb 2022
Josh Mitchell’s voice in public audio — every appearance, attributed to the second.
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So college costs are rising very quickly, or at least they have been over the past 20 years.
The second thing is that while college graduates still make a lot more than non-graduates, their real wages, their inflation-adjusted wages, have been pretty flat since about 2000.
The third thing, which is related to the first two things, is that the wealth premium, the amount of wealth that college graduates are building compared to non-graduates has gone down, at least for recent cohorts of college graduates.
So if you take a look, for example, at people born in the 1980s who graduated college, you
They still have more wealth than those who did not graduate college.
But if you compare them to people who were born in the 50s and 60s who went to college, that wealth premium has gone down.
And so these are several shifts that are causing economists to really look at this question of what is the return of college?
If you go to college, what can you expect to gain in terms of income and wealth afterward?
This is definitely a big point of debate among economists.
There's some recent research that suggests there's just been this shift in the economy that's tied to technology.
There was the tech boom in the late 90s that, you know,
caused more demand for workers with so-called cognitive skills to operate new technology.
And when that tech bubble burst, the economy and employers no longer needed as many workers with those cognitive skills.
This is a theory, and there's research to back up this theory behind why this happened.
So I don't wanna make out like this is the consensus, but this is one explanation.
Yeah, absolutely.
One theory is that what happened is those college workers were able to find jobs, but they started to occupy jobs that previously did not require a college degree.
So you kind of had this push-down effect where college graduates have been increasingly taking jobs that were held by non-graduates, and that pushes non-graduates down the scale.
And so while college graduates, while their income is still far higher than non-graduates, if you look at adjusted for inflation, their income hasn't really been rising since 2001.
Exactly.
Showing 281–300 of 438 · page 15 of 22
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