我的耀眼的 padlet by Jianneng Yang

Americans Are Losing faith in the Value of Collage. Whose Fault is That?

jy979 — 2025-02-26 22:48:23 UTC

Commodity in Labor Market

jy979 — 2025-02-26 23:37:18 UTC

Paul Tough points out in the paragraph that the economy is connected to education. Education is a commodity that people can choose to invest or not. The 2008 recession made it harder for people who less educated to find jobs. According to this, college degrees became a popular commodity, because it is very competitive in the job market. There is a significant difference in income between those with higher degrees and those with less education. But a decade later Americans have a different view of access to higher education. There has been a decline in the competitiveness of the college degree as a commodity in the job market, and a disproportionate demand for college degree holders and supply of college students. The process of getting a college degree is a long and expensive investment. More and more American parents do not want their children to enter college.

The College Wage Premium

jy979 — 2025-02-26 23:56:11 UTC

In Though's article, he cites the term used by economists to describe the income gap between college graduates and high school graduates: College Wage Premium. Though points out the demand for higher education in the labor market, and the fact that the salary packages and competitiveness of those with higher education in the job market are much higher than those with only a high school diploma. Therefore, in some countries other than the United States, such as Canada and Japan, there has been a large influx of young people choose to go to campuses and receive higher education since 2000. This also reflects the mechanism of the U.S. higher education system is different from that of other countries. While we can see the salary and wages that can be make with a college degree, as well as the demand of the labor market for people with higher education. We also have to look at the high cost of higher education in the U.S., as well as the ratio of inputs and outputs brought about by the pursuit of higher education.

The College Wealth Premium

jy979 — 2025-02-27 00:07:25 UTC

College Wage Premium focuses only on the income gap between people with a college degree and people with only a high school diploma, but ignores the debt that each individual carries for different levels of education. The mechanics of higher education in the U.S. are different from other countries such as Japan, France and so on. Tuition at U.S. universities is much higher than other countries. Many students choose to take out loans in order to pay for the expensive tuition. This situation lead that even if they find a job after college, they still need to pay the debt they previously owed. As a result, it is not really impossible to save any money after graduation.

College Casino

jy979 — 2025-02-27 00:53:31 UTC

Though cites Webber's concept. Compare higher education to a casino. Whether or not it pays off to go to college is as much a matter of probability as whether or not it pays off in a casino. To have a greater chance of winning the bet, a number of conditions need to be in place; first, the tuition needs to be free, second, individual needs to have graduated from the university, and third, it is best to choose a business or STEM major. It is only a small percentage of people who can fulfill the above conditions, most people may have to afford the high tuition fees, and even some people can't graduate even though they have afforded the high tuition fees. Even after paying that much money, individual may still end up losing the bet because you chose a humanities major.

Generation Z are facing a lot of problems

jy979 — 2025-02-27 01:00:29 UTC

Generation Z refers to people born in the 1997-2012 range. The economic recession after 2008 has shown the benefit that higher education can bring to people. As a result, Generation Z parents were more likely to send their children to college as well, because parents who went to college were aware of the high salary that the labor market offered to individual with higher education. But a decade later Americans' views on higher education have taken a sharp turn for the worse, with more Gen Zs believing that they can make a good living with a high school degree. Some American parents who don't want their children to attend four-year colleges. There are many reasons for this, including the demand for higher education in the labor market, and the supply of people with higher education. The investment and return on receiving higher education. The debt profile of those with and without higher education.

Racketeering

jy979 — 2025-02-27 01:18:02 UTC

The high cost of college tuition and the stratification of higher education by income and social classes have made college more selective in their selection of students. Private schools are use the convenience of hardware facilities to attract more students and support those facilities by raising tuition. These behaviors have made college less of a process-focused and more of an outcome-focused place. For many students, the meaning of college as a commodity has changed; if it used to be a place to learn a specialized skill and use that skill to become more competitive in the job market, nowadays college is just an expensive toll to get a good job, like racketeering. In particular, some college have less requirements for children of alumni, and these children receive higher salaries than their peers because of this expensive diploma, thus creating class solidarity.

Key Terms

jy979 — 2025-02-27 01:51:00 UTC

Commodity- Higher education have value, and can be trade in labor market, just like commodity.

College Wage Premium- the gap that exists between the incomes of college graduates and high school graduates.

College Wealth Premium- All debts that individual have.

Casino- A place not only require talent, hard work, and money but also require for lucky.

Racketeering- Forcing people to pay a lot of money for university diploma, since the diploma could help them be more competitive in the labor market.

Generation Z- People born in the 1997-2012 range

我的耀眼 的 padlet by Jianneng Yang