10% Less Stagnation

Source: Bet On It
by Bryan Caplan

“I’ve spent much of my career arguing that the main function of education is not to teach useful skills (or even useless skills), but to certify students’ employability. By and large, the reason our customers are on campus is to credibly show, or ‘signal,’ their intelligence, work ethic, and sheer conformity. While we like to picture education as job training, it is largely a passport to the real training that happens on the job. How will AI change this? To start, we should bet against any major disruption. Sheer conformity is one of the top traits students want to signal, and doing anything radically new signals … non-conformity. Few students will stop attending traditional colleges to ‘go’ to virtual AI training centers. And since most majors are already barely job-related, few students will rethink their majors either.” (05/25/23)