When Everyone Goes to College: a Lesson From South Korea

Written by: Stephen Hsu

Primary Source: Information Processing

South Korea leads the world in college attendance rate, which is approaching 100%. This sounds great at first, until you consider that the majority of the population (in any country) lacks the cognitive ability to pursue a rigorous college education (or at least what used to be defined as a rigorous college education).

Chronicle of Higher Education: … Seongho Lee, a professor of education at Chung-Ang University, criticizes what he calls “college education inflation.” Not all students are suited for college, he says, and across institutions, their experience can be inconsistent. “It’s not higher education anymore,” he says. “It’s just an extension of high school.” And subpar institutions leave graduates ill prepared for the job market.

A 2013 study by McKinsey Global Institute, the economic-research arm of the international consulting firm, found that lifetime earnings for graduates of Korean private colleges were less than for workers with just a high-school diploma. In recent years, the unemployment rate for new graduates has topped 30 percent.

“The oversupply in college education is a very serious social problem,” says Mr. Lee, even though Korea, with one of the world’s lowest fertility rates, has a declining college-age population. The country, he worries, is at risk of creating an “army of the unemployed.” …

See also Brutal, Just Brutal.

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Stephen Hsu
Stephen Hsu is vice president for Research and Graduate Studies at Michigan State University. He also serves as scientific adviser to BGI (formerly Beijing Genomics Institute) and as a member of its Cognitive Genomics Lab. Hsu’s primary work has been in applications of quantum field theory, particularly to problems in quantum chromodynamics, dark energy, black holes, entropy bounds, and particle physics beyond the standard model. He has also made contributions to genomics and bioinformatics, the theory of modern finance, and in encryption and information security. Founder of two Silicon Valley companies—SafeWeb, a pioneer in SSL VPN (Secure Sockets Layer Virtual Private Networks) appliances, which was acquired by Symantec in 2003, and Robot Genius Inc., which developed anti-malware technologies—Hsu has given invited research seminars and colloquia at leading research universities and laboratories around the world.
Stephen Hsu

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