Caplan is definitely not the only economist who holds this view. Most place the signaling/human capital split around 50/50: https://www.econlib.org/archives/201

Caplan is definitely not the only economist who holds this view. Most place the signaling/human capital split around 50/50: https://www.econlib.org/archives/2011/11/kauffman_econ_b.html https://www.econlib.org/archives/2011/11/kauffman_econ_b.htm...