Exams Notes.docx - EXAM NOTES Too many kids go to college...

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EXAM NOTESToo many kids go to college - PETER THIEL( co-founder of paypal) "The amount of debt that people leave college with has gone up tremendously, so the choices are very different from the ones people had 25 years ago. High school college costs in nominal dollars have gone up by more than a factor of 10 since 1980. Even after inflation, it's gone up by 300 percent. Costs about four times as much. Inflation adjusted to go to college now as it did 30 years ago, it's gone up more than anything else in our society, more than health care, more than housing, more than any of a number of other things we think of as having been subject to runaway cost inflation and escalation."CHARLES MURRAY(author of AEI Article "Are too many people going to college?") -"When I agreed to debate on too many kids are going to college, I thought of college as being four-year colleges leading to the BA. I didn't think of it as a whole range of community colleges and the rest. Anyway, that's the way I'm going to argue tonight because if the proposition were that too many kids are trying to get more education and training after high school, I wouldn't have accepted the position on the affirmative. Almost everybody needs more education after high school. What they don't need is to chase after this fraudulent, destructive, antediluvian thing called a BA. The thesis of my argument really is that the BA is the work of the devil."HENRY BIENEN( President Emeritus, Northwestern University) -"4.3 percent of college graduates are unemployed. More than triple that number of high school students or high school dropouts are unemployed. This is very compelling. There's a clear wage premium to education. There's also a social premium to society, not just individual. Society benefits through greater productivity, lower crime, better health, better citizenship for more educated people." VIVEK WADHWA (Director of Research atthe Center for Entrepreneurship and Research Commercialization at Duke University) -"Look at the industry [in China and India] in which everyone is moving, technology, engineering. 1.5 million versus about 100, 150,000 of ours. They're eating our

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