I think it's a tricky question, because the provided link seems to distinguish liberal arts schools from other non-technology, non-business schools, and I don't

I think it's a tricky question, because the provided link seems to distinguish liberal arts schools from other non-technology, non-business schools, and I don't know how that distinction is being made. It could be that their subjects are largely similar, but the schools being explicitly marked as "liberal arts" schools are of an elitist class separated by grades and/or family privilege. And that these aspects of the student rather than the content of the degree are what account for the return. Certainly some liberal arts degrees are warranted by the market, but if what's happening is that all the ones from a second rank of colleges are simply not being considered as liberal arts, then that kind of misrepresents what's going on.