American experience suggests that an educated workforce may be overrated

This isn't to belittle the value of higher education; a tight labour market won't reduce the need for degrees for engineers or lawyers

A tight labor market shows the true value of education – and we’re seeing now that college has been overpriced. For many workers, it’s not worth the time or the money.

In the depths of recession employers added years of experience and additional degrees into hiring requirements – "the barista with a master's degree" – not necessarily because that experience or education was important to do the job, but just because employers had the luxury of being more picky. As the labor market has improved, those requirements have been loosened, presumably without much impact to productivity.

This reality is at odds with