Back to School—A Critique of the College Model
In a recent conversation with my college-educated friend, they expressed their sentiments that college, for many, was a waste, echoing a common critique among libertarians. Further, they continued, that if they were not led to believe that college would guarantee a well-paying career, they could have started working earlier, developing real-world skills, therefore, making closer to the comfortable pay of their non-college-attending colleagues. While some may view higher education as a necessary step towards personal and professional growth, others argue that the current system is plagued by inefficiencies, inflated costs, and a lack of connection to the job market.
Libertarians argue that the current college system isn’t sustainable due to its reliance on federal guarantees for student loans. This “blank check” has led to rising tuition prices, as colleges know they can basically borrow unlimited funds to finance their day-to-day operation. Without market forces reigning in costs, colleges have almost no incentive to get creative or reduce their expenses. As a result, many students graduate with enormous debt, and many without even securing jobs that justify their investment.
Many libertarians would agree that the education system prioritizes left-leaning indoctrination over gaining knowledge and real-world life skills, offering many programs that focus on irrelevant subjects rather than vocational training. This focus on theory-over-function application leads to a disconnect between education and employment, as graduates rarely can find jobs that align with their degrees.
In a perfect world, education would be decentralized and market-driven. Students would have more freedom to choose programs that align with their interests and career goals, rather than being covered into traditional liberal arts or STEM programs. Giving that choice would encourage innovation and competition among colleges, leading to lower costs while also increasing the value of the degrees.
Additionally, while many colleges solely focus on degrees with little real-world application, ideally there would be a shift towards vocational training and apprenticeships, providing students with hands-on experience and skills useful to the ever-changing job market. This approach would also reduce the burden on taxpayers, as government subsidies for higher education would be minimal. Some might think that prioritizing vocational training discourages higher learning and creates a worker economy, but that ignores the individual entirely and their ability to enrich themselves outside of the college environment. Online courses, lectures, and community programs can provide access to a wide range of subjects and skills without the need for a traditional college degree.
Furthermore, many libertarians would argue that the current system’s focus on “theoretical knowledge” has led to a lack of practical problem-solving skills and adaptability in life as a whole, let alone through the workforce. A more market-driven approach to education would prioritize these types of skills, better preparing students for the current landscape of the job market.
In conclusion, my friend’s assertion that college, for many, is a waste is certainly valid. To combat this increasingly-common sentiment, it’s clear that a more libertarian approach is necessary. While some may disagree with this perspective, it’s essential to acknowledge the very real concerns about cost, relevance, and effectiveness. It’s no secret that college loans are predatory, but the answer is how to combat this practice varies.
By decentralizing education, promoting vocational training, and embracing market forces, libertarians aim to create a solution that better serves students and society as a whole. Ultimately, the debate surrounding college and its value highlights the need for innovation and reform in education. As it benefits us all to create a more efficient and effective system, we must consider the libertarian perspective as a valuable answer to a long unanswered problem.
Originally Posted at https://mises.org/
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