The Case Against Education: Why the Education System Is a Waste of Time and Money
Employers pay for the credential rather than the algebra. Caplan follows the signalling evidence to conclusions about public funding that few readers accept whole.
Most of what schooling pays for, Caplan argues, is signalling rather than learning: employers reward the credential because it certifies intelligence, conscientiousness and conformity, not because the algebra proved useful. He marshals the evidence on forgetting, on the sheepskin effect, and on how little transfers to work, then follows it to conclusions about public funding that few readers will accept whole.
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