Not to mention that education is increasingly difficult to get because Americans don't want to finance it.[A]mericans are told that education is the answer to unemployment. Get that university degree and live happily every after.
As RT recently reported, the truth is that more than half of recent US university graduates are unemployed or very underemployed. So much for the mantra that “education is the answer.”
“Education is the answer” serves the colleges and universities who want the tuition payments. It serves the companies who make student loans. It helps the offshoring corporations disguise that they are the main cause of unemployment.
Education is not the answer when high value-added, high wage manufacturing and professional service jobs, such as software engineering, are moved offshore in order to enhance short-term profits for shareholders and multi-million dollar bonuses for CEOs, while domestic employment and purchasing power are destroyed. Unless American university graduates can emigrate to China and India, there is no one to employ them. Yet, we still hear the call to run up student loan debts beyond the ability of salaries to repay the loans.
Paul Craig Roberts
But hey, this country runs on debt. The debt-financing industry is doing well.
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