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It is pretty strange even from an economist really - they of all people should be able to understand and articulate the difference between signaling value and direct utility value of a given good or service.


Economists have been debating the skills vs signaling value of education, especially since Bryan Caplan released his book The Case Against Education. If you want to get a smattering of opinion on the issue the book's reviews and dicussionsn would be a good starting point.

https://en.wikipedia.org/wiki/The_Case_Against_Education#Rev...

Bryan Caplan back and forth with Noah Smith on the book: https://www.econlib.org/archives/2015/04/educational_sig_1.h...

Bryan Caplan back and forth with Bill Dickens on the book: https://www.econlib.org/archives/2010/08/education_and_s.htm...


It's not a majority view among economists. Caplan is the only person I can think of who holds this view.


Caplan is definitely not the only economist who holds this view. Most place the signaling/human capital split around 50/50: https://www.econlib.org/archives/2011/11/kauffman_econ_b.htm...


If anyone could realize the tenuous value of education, it might be someone paying student loans for an economics degree...




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