I was just going to post this link:
http://econfuture.wordpress.com/2010/11/22/will-a-college-education-be-worth-the-investment-in-the-future/
But it merits further discussion: One consequence that he does not discuss, is that as the American college costs escalate, and returns to individuals stagnate, those seeking entry level management positions will be squeezed out by the cheaper foreign educated. The process is a little more complicated: More and more individuals will decline the expense of a college education as its returns decline, and thus fail to qualify for management positions. It will be cheaper to import foreign educated managers for the entry level positions, (who will then get promoted, etc…) and also to export other management functions, such as design and development. Thus American labor will increasingly consist of the underemployed and over qualified, and be increasingly managed by foreign nationals.
Advice for the college bound: Learn Hindi and get a passport.
This link too:
http://econfuture.wordpress.com/2010/08/27/outsourcing-jobs-that-cant-be-outsourced/
In fact, the entire blog is worth following. Scary though, considering who we are governed by.
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