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This shouldn't be a surprise to governments, it won a Nobel prize in 2001.
by kurtisc 9y ago
This shouldn't be a surprise to governments, it won a Nobel prize in 2001.
- ouid 9y agoCould you explain how you think this applies? In his paper, Akerlof describes college as a mitigating factor of the information asymmetry of the labor market. Higher productivity workers gain education at less personal cost than lower productivity workers, and it thus gains value as a signal. If education doesn't, ultimately, correlate with productivity, then the argument is that the market will simply ignore it.