College is for the elite because it is an arms race. We use college for class signaling. If a degree is free, then employers will demand a master's degree. (al

College is for the elite because it is an arms race. We use college for class signaling. If a degree is free, then employers will demand a master's degree. (already starting) If we make that free, employers will demand a doctorate. If we make that free, employers will demand post-doctoral work. Meanwhile, the actual education obtained for any given level declines. This is a race to the bottom because the customers demand it. Colleges are now teaching things that were once required for entering high school, particularly writing. For an individual, it is usually beneficial to participate in the arms race. College expenses rise to take much of the benefit, but there is some benefit left for the student. For society, anything that encourages the arms race is harmful. An increasingly large portion of a person's life is spent being unproductive.