Is There a Bad Equilibrium?

I think there is some behavioral component that kind of keeps us stuck in this place. Employers today are starting these big initiatives to go out and hire people without college degrees. But the real reason they're doing it is because they can't fill jobs or they want to pay higher wages. And so, you know, that's what will drive a correction there ultimately. It may be that it takes very severe labor market conditions in order to get a correction from what was a really inefficient way of doing things.