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WotD: Education deflation
Post-secondary education is expensive.
If you have been lucky enough to have parents who could afford to pay the tuition, you are fortunate.
The rest of us have had to work our fingers to the bone either to pay upfront or make later payments.
Anyways, have you heard about education deflation?
While attaining a degree is becoming more expensive, the value of that degree is falling rapidly.
Education deflation happens when the phenomenon of supply and demand is applied to knowledge.
The more people who have higher education, the less monetary value education has.
I chose to write on education deflation today for a fascinating reason.
Perhaps you have heard a small wave of momentum building in terms of unionizing workers at Amazon and Starbucks.
Companies have fought against unionization for years, and many people wonder if there is some building momentum at the moment.
Well, I heard one of the reasons is education deflation.
More and more university-educated people are working at Amazon and Starbucks.
They are incredibly frustrated at where they are in life, the low salaries and being taken advantage of.
They are, however, very well-educated.
These unhappy, unsatisfied people know how to research and organize to achieve a goal.
Their goals are to unionize their shops to gain some semblance of a living wage.
They want what we all want, higher wages, better healthcare and regular working hours, to name a few.
Education deflation is terrible for educated young people and even worse for companies that desire to take advantage of them.
Flesch-Kincaid Readability Test
This post is understandable by someone with at least a 9th-grade education (age 15).
On the Flesch-Kincaid reading-ease test, this post scores 55.
The easier a passage is to read, the higher the score on a scale of 0 – 100.