This is a popular theme these days. I think the college education used to serve several purposes: a) serving the Liberal (big L) ideal of creating the sort of w

This is a popular theme these days. I think the college education used to serve several purposes: a) serving the Liberal (big L) ideal of creating the sort of well rounded, educated, informed citizen upon which democracy depends, b) vocational training, and c) indirectly, signalling fitness in a modern workforce. A) and b) aren't totally at odds, but they're not exactly aligned. When the economy was healthy enough and tuition was low enough, that misalignment was basically overshadowed by the signalling value of a degree. Even your liberal arts degree would show you were of value to corporate america. But now, the misalignment is becoming magnified by high tuitions, the poor economy, and increasingly specialized and technical job requirements. You can achieve a) via your philosophy degree, but you'll never find a job. So the signalling value of a non-technical degree has been largely lost (top ivy-league schools excepted). I don't have a good answer, but I'd argue that we shouldn't abandon the notion that education should be in part about creating a well rounded citizenry capable of critical thinking in pursuit of more economically grounded college education.