I came across a link to this blog today, and thought the guy made some really good points. College, Politics, and Wagnerian Opera - The Conservative Reader The basic assumption behind the value of an education is that economic growth has unlimited potential. That obviously does not apply in a recession or a period of extended slow growth. The problem is that, even when the economy was booming, the education bubble was ready to burst. We haven't seen it yet, but it is going to crash. We need to prepare for it now and accept that education is not going to fix our economy.