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Oh No! U.S. Falls Behind in Sheepskin Race! (Reason Magazine - Hit and Run)
America is, once again, at risk. That's because the kids just won't buckle
down to their studies, earn their degrees and set themselves to the task of
driving the nation's GDP ever-higher with the sheer force of their state
college Art History majors. At least, that's what David Wessell and Stephanie
Banchero tell us over at the _Wall Street Journal_, and to prove the point,
they've pulled together a bunch of data and examples that don't necessarily go
together.
The key point Wessell and Banchero make is this:
> Throughout American history, almost every generation has had substantially
more education than that of its parents.
>
> That is no longer true.
>
> When baby boomers born in 1955 reached age 30, they had about two years more
schooling than their parents, according to Harvard University economists
Claudia Goldin and Lawrence Katz, who have calculated the average years of
schooling for native-born Americans back to 1876.
>
> In contrast, when Americans born in 1980 turned 30 in 2010, they averaged
about eight months more schooling than their parents.
This is bad, they say, because "[t]hose with only a high-school diploma had an
8% unemployment rate in March, roughly ...