School is Bullshit: A Very Exciting Table

When I saw this table from Bryan Caplan, I got really really excited. This is an excellent framing of the question of whether school is bullshit.

Economic Models of Education

There’s a lot more rows. Click through for the whole thing

Caplan is saying that we know that higher education correlates with earning more money, and he can think of three explanations: either schools actually teach you useful things, or universities just admit people who would have made more money anyway, or going to college signals to employers that you’re the kind of person who they should pay more money to. (Or some combination of these.)

This guy is apparently writing a book called The Case Against Education, which, needless to say, I will read with extreme interest.