MORE PROOF THAT INSTAPUNDIT IS WRONG ABOUT A "HIGHER EDUCATION BUBBLE" AND IS BARKING UP THE WRONG TREE

PROFESSOR GLENN REYNOLDS HAS POSTED HIS BELIEF THAT THERE IS A "HIGHER EDUCATION BUBBLE" NEARLY 100 TIMES SINCE JANUARY.

HE IS WRONG.

RECENTLY, HE STARTED CITING THE FACT THAT COLLEGE GRADS ARE HAVING A VERY TOUGH TIME GETTING JOBS AS PROOF HE WAS RIGHT.

BUT HE IS BARKING UP THE WRONG TREE.

THE REASON COLLEGE GRADS ARE HAVING A HARD TIME IS BASED ON THE AWFUL ECONOMY AND NOT ANY BUBBLE. HERE'S SIMPLE PROOF - A CHART OF COLLEGE ENROLLMENT OVER THE LAST 4 DECADES:


AS YOU CAN SEE, ENROLLMENT ONLY WENT UP 10% OVER THE LAST 40 YEARS, AND VERY GRADUALLY.

THERE IS NO SHARP INCLINE AS ONE SEES WITH EACH AND EVERY SINGLE SOLITARY BUBBLE --- FROM TULIPS TO CRUDE OIL TO HOUSING TO "NEW ECONOMY/INTERNET" STOCKS.





THE CORRECT TREE GLENN REYNOLDS SHOULD BE BARKING UP IS THE AWFUL ECONOMY - ONE RUINED BY SOCIALISTIC POLICES:

• THE HOUSING BUBBLE - CAUSED BY THE CRA AND FANNIE MAE AND FREDDIE MAC;

• THE OIL BUBBLE - CAUSED BY POLICIES WHICH DETER DOMESTIC ENERGY EXPLOITATION SUCH AS OIL IN ANWR, OFF THE COAST OF CALIFORNIA AND MORE USE OF COAL;

• OBAMACARE WHICH IS RETARDING NEW HIRING;

• THE PORKULUS AND HUGE DEFICITS AND DEBTS THE USA HAS RACKED UP SINCE 2000.

YES, GLENN AND I AGREE:

THERE HAS BEEN OUTRAGEOUS TUITION INFLATION IN THE USA - AND THIS HAS LED TO GRADUATES HAVING HUGE DEBTS UPON GRADUATION, AND THIS IS A PROBLEM.

ESPECIALLY SO WITH THE OVERALL JOBS MARKET SO "SUCKY".

AND YES, GLENN AND I AGREE:

THERE ARE PROBLEMS WITH WHAT COLLEGES TEACH - THEY TEACH TOO MUCH LIBERAL BS --- AS IN BULLSHIT - AND NOT ENOUGH USEFUL THINGS LIKE A B.S. IN ENGINEERING.

BUT THESE ARE COLLEGE MANAGEMENT ISSUES THAT HAVE NOTHING TO DO WITH ANY IMAGINARY "HIGHER EDUCATION" BUBBLE.

NO AMOUNT OF ANECDOTAL "EVIDENCE" THAT REYNOLDS CARES TO SHARE AND NO NUMBER OF PSEUDO-EXPERTS HE CARES TO LINK TO CAN CHANGE THIS.

BY CONTINUING TO USE THE SILLY CATCH-PHRASE, GLENN OBFUSCATES THE ROOT PROBLEM - SOCIALISTIC POLICIES - AND THIS DELAYS A CURE: REDUCING THE SIZE OF GOVERNMENT AND THE COST OF HIGHER EDUCATION.

I THINK GLENN FOUND A CATCHY PHRASE HE LIKES - "HIGHER EDUCATION BUBBLE" - AND IS MISAPPLYING IT TO A SET OF SAD FACTS WE AGREE ON, BUT WHICH HIS PHRASE DOESN'T REALLY EXPLAIN --- AND CAN'T CURE.

THE USA DOESN'T NEED FEWER COLLEGE GRADUATES.

THE USA NEEDS COLLEGE GRADUATES WITH MORE USEFUL DEGREES AND LESS DEBT.

COLLEGES NEED TO EMPHASIZE USEFUL SUBJECTS AND LOWER THEIR TUITION.

ENDING TENURE AND REFUSING TO TURN CAMPUSES INTO COUNTRY CLUBS WOULD BE TWO USEFUL STEPS.

(HMMM... PROFESSOR REYNOLDS - WHO IS TENURED - NEVER MENTIONS IT.)

A MORE ACCURATE CATCH-PHRASE TO DESCRIBE THE CURRENT CRISIS MIGHT BE: "THE COLLEGE GRAD SQUEEZE".