[ExI] elite college bribery scandal
avant at sollegro.com
Tue Mar 19 22:59:36 UTC 2019
Quoting Dan Ust:
> I believe Caplan is saying the degree from a top school doesn’t
> signal wealth and privilege. (Why would it? It’s obvious that some
> people can buy their way into a top school, but showing off one’s
> portfolio would easily display wealth and one can display privilege
> by having a Park Avenue address.
> Instead, his claim is that it signals you’ll be a good worker —
> better than the graduate of a lesser school (because it’s harder to
> get into a top school) and better than the person who didn’t
> graduate or didn’t go at all. And he thinks would be employers are
> looking for smart and reliable workers — not just smart. If it were
> the latter, then they could simply use IQ or even SAT scores as much
> as degrees.
Well since I have not read Caplan's book and am largely going off of
your description of it, I will accept your interpretation of what he
meant by "signalling". However in biology, signalling generally means
an expensive display meant to attract a mate like a peacock's tail or
a ferrari so I apologize for the confusion.
That being said, why shouldn't employers hire people on the basis of
test scores? Maybe not IQ or SAT but something germane to the
employer's industry. Is it any less impressive that some person passed
a state bar exam by studying on his own rather than by going to a
fancy law school? Especially since earning a degree does not
necessarily imply that any of the knowledge was retained beyond
> I’m not sure about Bill W.’s point about using college as
> networking. I’d like to see some data on that rather than the
> homespun wisdom.
Here is some recent data:
"There are many fine colleges below the top Ivies and privates, and
many of those are very hard to get into, but the graduates of the most
selective colleges, like the Ivies and other top 20 colleges, do get
considerably better-paying jobs. A very smart, hardworking student who
gets into a college below the very top level of selectivity does not
earn the same as one who gets into one of the most selective
colleges," he said. "This explains, perhaps, why there is such an
intense or frantic competition to get into those very top-ranked
colleges. It has substantial implications for future earnings."
> Here if the networking thesis is true, I’d expect the guy who want
> to Harvard but dropped after after his third year (didn’t get the
> degree) to have almost as much of a network — to have met and forged
> contacts with almost as many people as the graduate. Yet the
> diploma-holder seems definitely to do better in the job market than
> the guy who spent almost as time there but didn’t get the diploma.
Bill Gates, Larry Ellison, Steve Jobs, Mark Zuckerberg, and Elon Musk
all dropped out of Ivy League schools and so could be considered
evidence (albeit anecdotal rather than statistical) that getting
accepted to and then dropping out of an Ivy League school is a better
strategy than completing a degree at a public university.
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