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Retirement Discussions / Retire Early Liberal Edition
|Subject: Re: College degree value||Date: 5/2/2013 2:14 AM|
|Author: salaryguru||Number: 49285 of 92917|
Friedman wrote a book on this back in the 1990s or earlier called 'the World is Flat'
It's been several years since I read 'The World is Flat', but I still think this is the best of those that have looked at this issue. Maybe that's just because it was the one I read first.
Mostly right on....but now even 'low cost' places like China are seeing jobs move to Vietnam and Malaysia for even lower cost wages.......... since China has a labor shortage and increasing wages......those jobs that went to China can just as easily now be moved elsewhere....
Which only proves the point: The world is flat. The fact that China and India are rapidly losing jobs to Malaysia and Indonesia should frighten us all.
China will graduate more students with engineering degrees this year than exist in the rest of the world today. . . Think about that for a second. The PRC government is investing massive amounts of money in Universities and university education. Meanwhile, in the US, college education is increasingly expensive and out-of-reach. Which population is more likely to gain meaningful employment from multi-national engineering corporations in the future?
It will be difficult enough for US workers to compete in the future, but I just don't see how making education too expensive to be obtainable is going to help.
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