US college grads' salaries in steep decline - Boing Boing
Economist Michael Mandel documents that real wages for young college graduates (ages 25-34) have declined significantly since the early 2000s—down 19% for men since 2000 and 16% for women since 2003—despite rising tuition costs and increasingly aggressive student loan collection. He raises three critical questions about the causes: whether global competition from international college graduates, declining quality of American graduates, or technological displacement might explain this wage collapse. The disconnect between skyrocketing college costs and deteriorating economic outcomes for degree holders suggests a fundamental problem with the current higher education investment model.