Education and Income Inequality in The U.S.

The U.S. Census Bureau released a study, suggesting that earning any college degree will, on average, increase your income throughout the lifetime by $1 million.

Screen Shot 2015-03-01 at 10.23.35 AMBased on the study, James Marshall makes interesting arguments in his two-part essay for Forbes “Education is The Answer to Income Inequality: Part 2.”

I routinely recommend that some of today’s recalcitrant college students skip a four-year degree in favor of trade school or low-cost community college. Moreover, I am fully aware that there are rare outliers – such as Steve Jobs, Bill Gates, and Mark Zuckerberg – who enjoyed enormous success  with little or no college training. Nevertheless, I am confused why a scholar as distinguished as Paul Krugman would ignore the salutary economic benefits of college – preferably low-cost and public – merely to make a partisan political point about “elite discourse.”

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