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The data shows correlation, not causation. I can think of at least two causal explanations that would account better. 1) Children born to wealthy parents are
by fdschoeneman 15y ago
The data shows correlation, not causation. I can think of at least two causal explanations that would account better.
1) Children born to wealthy parents are both a) more likely to go to college because their parents can pay for it, and b) to step into high paying jobs because of their social networks than poor kids. Thus while there is correlation between college degrees and earning potential, the root cause is being born into a wealthy family.
2) Smart people are more likely to go to college than dumb people, and smart people are more likely to do well in jobs which require intelligence. Similarly, intelligence is the causal factor, not simply attending college.
College may very well be worth the money; but your statistics prove no such claim.
- Rusky 15y agoBut in both of those points, isn't it possible that going to college could 1) improve your social network and 2) help you raise your intelligence? Same outcome. Just because something isn't causal doesn't mean the statistics are worthless.
- fdschoeneman 15y agoI'm sorry if I made it seem like I believe the statistics are worthless. I merely wanted to show that they don't prove that a college degree is "really, really worth it."
- eel 15y agoI'd like to point out two additional potential explanations. 3) Children born to wealthy parents are more likely to go to better primary and secondary schools (possibly private schools, or possibly by living in better neighborhoods.) This generally leads to smarter people as mentioned in #2. 4)Secondly, wealthy (or even middle-class) parents are more likely to have a culture of appreciation for education, as education likely played some part in getting them to where they are, and that culture will tend to rub off on their children.