Friday, October 30, 2015

College Majors Versus Earning Potential

The Democrats' chant of Free College just keeps getting louder. Bernie Sanders claims that free college would be the "driver of a new era of American Prosperity". But let's look at how well that's working today. An analysis by Georgetown University demonstrates that that there is no correlation at all between what a career pays and how many people choose to pursue it in college study. Few are opting for majors like engineering and pharmacy and finance that pay the most. More are opting for psychology and "fine arts" that pay the least. It's not clear how Free College churning out more "fine arts" majors is going to create prosperity. Maybe an economics course or two might help?

Also, a short quiz for Mr. Sanders and Mrs. Clinton. If you succeed in greatly increasing the number of college graduates with your Free Tuition scheme, what do you think will happen to the salaries for those with the degrees? Here, again, a course on basic economics might be helpful.


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