The Importance of a College Degree

Fewer than 40% of us adults have a bachelor's degree. If you have a degree from a well regarded university, that puts you an even more rarefied air. The economist bryan caplin in a book called the case against education argues that one major function of a college degree is to act as a social signal. In caplin's view, this has driven a kind of credential inflation, where more and more education is required to have a good career.