There’s an education bubble, which is, like the others, psychosocial. There’s a wide public buy-in that leads to a product being overvalued because it’s linked to future expectations that are unrealistic. Education is similar to the tech bubble of the late 1990s, which assumed crazy growth in businesses that didn’t pan out. The education bubble is predicated on the idea that the education provided is incredibly valuable. In many cases that’s just not true. Here and elsewhere people have avoided facing the fact of stagnation by telling themselves stories about familiar things leading to progress. One fake vector of progress is credentialing—first the undergraduate degree, then more advanced degrees. Like the others, it’s an avoidance mechanism.

i don’t always agree with Peter but he’s spot on about education

A Conversation with Peter Thiel - The American Interest Magazine (via pegobry)

Also, this quote, but really gomread the whole thing: If there is going to be a government role in getting innovation started, people have to believe philosophically that it’s possible to plan. That’s not the world we’re living in. A letter from Einstein to the White House would get lost in the mail room today. Nobody would think that any single person would have that kind of expertise

(via cacioppo)

Source: the-american-interest.com

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