To the People

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Thursday, April 19, 2007

Men Today Less Likely to Finish College Than Their Fathers Were, A New American Low

Liberal pundits and politicians make an issue of income disparity in the US. A lot of the disparity is irrelevant, as when Sergey Brin and Larry Page became billionaires by creating Google, that didn't take money out of the pockets of the janitor in the hotel, yet it created more disparity. Liberals don't understand this, and the more people succeed at the top, the more they cite disparity as a pressing social issue.

But there is a real social issue and it is called: having higher education matters. Bachelor's degree holders make 75% more than high school graduates. Yet, for the first time in American history, male Americans are attaining college degrees at a lesser rate than their fathers did. It might shock you, but only 35% of Americans today have an Associate's degree or higher. From a WSJ article:
"This is the first generation of American-born men who don't have substantially more education than their fathers' generation," says Lawrence Katz, a Harvard University labor economist. American women do have more schooling than their mothers, but that's not sufficient to offset what's going on with men.
As to US higher ed supremacy, we used to be first but now,
The latest Organization for Economic Cooperation and Development data show more than a dozen countries have equaled or surpassed the benchmark achieved by the U.S. in 1991 -- and six have a higher share of 25- to 34-year-olds with college degrees. [Belgium, Canada, Ireland, Japan, Korea and Sweden.]
Q: Why aren't more people getting degrees when that is the clear path to financial success? I don't know, but it just about 100% explains income disparity.

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