Just a couple of weeks ago in Intermediate Microeconomics we touched on the idea that the higher incomes that more educated workers receive may not be because the education actually made them more productive.
It could just be a signal that the educated person will be more productive, because they come from a certain socio-economic background, or because they have demonstrated an ability to stick with something that's not always fun for four years.
So maybe the signal is breaking down.
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