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How can we fix the dysfunctional labour market & the dysfunctional education system?

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Christopher Wells

Hi Everybody,

I would like to address our dysfunctional education system and the dysfunctional labour market that youth face today. This is a big problem that will take up three posts. The first two posts will outline the problems. The third post will provide the solutions.

Our education system is set up for kids to spend 4 years or more to get a “useless” piece of paper that shows a potential employer that they are “smart enough" to do a particular job. However, many graduates are finding out after spending 4 years or more of their lives, plus paying 50-100k+, they cannot find a job in their field in which they majored in. In other words, millions of graduates today are unemployed or underemployed (working at a job that does not require a college degree).

However, our dysfunctional labour market (Big Businesses) are demanding people to have a bachelor degree and fours years of experience for an entry level position? In addition, the Big Government is giving everybody student loans which is causing tuition to skyrocket creating an “Education Bubble”. Millions of students who have completed university are finding out that their degrees are totally worthless because now everybody has one (academic inflation). In addition, this leads to “progressive credentialism”. The infinite chasing of more and more credentials for a job that was done in the past with less or no education at all.

In essence, when a government subsidizes education it actually does the opposite to what it wants to achieve. Instead of helping poor people to get an education it eventually prevents poor people from getting an education because of inflated tuition (too many people with artificial money chasing too few goods). Hence the education bubble.

We borrow money from a government (which it does not have) and then it has the nerve to charge us interest and prevents you from declaring bankruptcy. The whole system is design for young people to be indenture servants. We have to get into debt in order to labour.

We need to come up with a solution to these problems.

Thanks
Chris Wells

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Christopher Wells

Hi Everybody,

This is the second post.

I want to talk about why employers do not train people anymore. It is very frustrating when you graduate and no one will give you a job. It very depressing that many graduates find themselves either unemployed or underemployed because companies refuse to train them.

Not only are companies sitting on profits – in many cases, huge profits – and not hiring new employees, but far too many seem to have zero commitment to helping build, or invest in, their workforce of tomorrow. Yes, businesses today seem to want ready-made workers that can be plug in and do the job at a low cost.

But, too many companies seem to want someone else to handle the training and development. At the same time our government thinks employers naturally hire graduates and train them.

It is this contradiction that is preventing many graduates from establishing their careers.

Colleges today only care about research and profit. They do not even give students the skills necessary for employment. Our Government must “wake up” to the “new reality” and redesign our education system. Colleges must mimic the workplace and teach students both the theory and the practical experience necessary for employers to hire them once they leave school. It is clear that our current university system is outdated and ineffective to equip students with the skills necessary to gain employment. Colleges must become professional training institutions.

Big Government + Big Business has made the situation much worse by imposing “constant barriers” plus “barriers to entry” into certain professions e.g accountants, lawyers, and engineers. For example, barriers of entry include a four year bachelor degree plus four years of experience to get an entry level position. In addition, to become a member of a “Society” whether that be an accounting society, law society, or an engineering society. Each year you must take additional training courses and pay a renewal license fee.

This is an example of a “constant barrier” that forces you to pay more money each year to keep your job.

We need to redesign our education system.

Thanks
Chris Wells

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Christopher Wells

Hi Everybody

This is my third post that provides solutions.

The solutions are simple. Government needs to stop supplying student loans. This will force colleges to lower their tuition to increase enrollment numbers. Colleges must become professional training institutions that provides career advice, give current job statistics, limit the amount of people for each professional course (skills and experience that employers are seeking at that particular time). Colleges need to discard useless courses that takes money from innocent kids that leave them with no useful skills, mortgage size debts, and no job. If a person wants to learn a subject as a "hobby" it can be provided for free or at low cost by using free tools such as the Google, and YouTube.

Government needs to take away the “barriers to entry” to the professions and companies should offer “white collar” apprenticeships e.g.accountant, software engineer. This way people can gain experience and a qualification at the same time without incurring any debt.These few steps alone would greatly improve our education system and provide students with useful skills and experience before they leave university.

What about unemployed people who want to work?

This method is more efficient. We can also change the way we train people for jobs. In 21st Century employers are looking for trained people to do the job now.

However, under our current model people have to pay a ton of money and spend four years studying before applying for these jobs. This method is not only slow and expensive but retarded when I think about it.

Employers want skilled people "right now" not four years later!!!

There are people who want to do these jobs but cant because of the financial barriers and time needed to get the piece of paper. Once again the solution is simple. People should be able to take 6 - 12 week course and do an exam. The employer can then train them on the job after that. This method would solve the skill "mismatch problem" faster and allow people to retrain quickly if their field becomes automated with very little cost.

Plus everybody wins!!! (^_^)/

What are your thoughts?

Thanks
Chris Wells

PS: This is my favorite geek song - I want to understand creation \(^o^)/
https://www.youtube.com/watch?v=M--eOnl3kNU&list=UUR9sFzaG9Ia_kXJhfxtFMBA&index=17

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Maite Zamora Moreno
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