A R D R I A P U G H

IS EDUCATION A SOLUTION FOR LOW SOCIAL MOBILITY AND HIGH

INEQUALITY?

YES!

• Students learn how to manage money and build wealth in Economics classes• Employers like to hire college students because

students are thought to have a higher work ethic• They bring more refined skills to the job• Extracurriculars make well-rounded employees

• A Bachelors degree increases earnings potential• College graduates’ lifetime earnings are 2x

greater than high school graduates’

BUT…

• Inequalities among different majors•Education, fine arts, social work, elementary education degree holders are low earners compared to engineering and science majors•Who says these jobs are less important?

IN THE REAL WORLD

• Patrimonial capitalism• Graduates with financial responsibilities• Low-earning majors can’t pay back Sallie Mae• Children• Debt limits freedom to succeed in economy

• Small, competitive job market won’t hire everybody

CLASS OF 2014

•8.5% unemployed•16.8% underemployed•Almost half won’t find a job that requires their degree•More than 1/5 are in low-wage jobs ($25,000/year or less)

CONCLUSION

•Education only increases your potential•There are too many outside factors that inhibit social mobility and nurture inequality

QUESTION

•Will Obama’s free community college initiative be effective in lowering inequality?•How confident are you that you will find a job in your degree field after graduation?

REFERENCES

• http://www.bls.gov/emp/ep_chart_001.htm• http://www.hamiltonproject.org/papers/major_deci

sions_what_graduates_earn_over_their_lifetimes/• http://www.hamiltonproject.org/papers/major_deci

sions_what_graduates_earn_over_their_lifetimes/• http://www.slate.com/blogs/moneybox/2014/05/0

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