The younger generations face death by a thousand cuts. Two articles yesterday in The New York Times, included below, describe opposing viewpoints of the value of education in America. The first article paints a rosy picture of college graduates having a less than 5% unemployment rate even though the article also admits that many of these young people are working far below their educational skill level. Tellingly, the article fails to take into account the crushing burden of debt (big surprise). The other article reveals what most of us know from personal experiences or experiences with friends—that a greater number of young people must live at home into their late 20s and sometimes beyond. America continues to slide to the bottom of the list of developed countries that produce young people with the ability to support themselves.
The legal field provides an exaggerated version of the indebtedness and joblessness caused by the academic industrial complex. It is disheartening to see newspapers try to paint a rosier picture of the numbers by suggesting that a college degree is much more valuable than it actually is. Most of us know the reality: most young people work at retail and food service jobs to pay crushing debt, often an exercise in futility.