750 word essay

Jacquelyn Elam

Essay 1, summary critique

Article’s title: Is College worth It? Clearly, New Data Say

Author of Article: David Leonhardt

One would like to understand why many graduates consider themselves jobless despite many opportunities in both formal and informal sector. Many graduates seek college education to find work but the question of whether college education is worth it or not is still on rise among the members of the society. Leonhard notes that some newly minted college graduates endeavor to find work while some accept the jobs regardless of being overqualified for them. Many college graduates feel that their struggle during four years while in college and the challenges that they face enables them to live a desirable living while others opinionates that the college education is not worth their desires. Leonhardt successfully argues why college degree can be considered as worth it by some people while others still regard it as unworthy the struggle and challenges faced while in college.

Leonhardt argues that the pay gap between college graduates and their non-graduate counterparts is increasing and it reached a record high in 2013 (Leonhardt). The Labor Department statistics by the Economic Policy Institute in Washington proves that college graduates in the US earns 98% more than people without degree averagely in an hour. According to this statistics, the pay gap between these two categories of people has increased since 1980s when it was only 64% (Leonhardt). Hence, Leonhardt believes that the pay disparity is on the rise even though this economic situation could be avoided.

The article provides that increasing the number of college graduates beyond what the economy needs could reduce the disparity pay between graduates and people without college degrees. Leonhardt argues that the recent pay gap margin is based on the fact that many people went back to colleges after the Great Recession and the economy still needs more than the current number of graduates. For instance, the M.I.T economist who took part in the economic policy institute states that, “we also have too few people who are prepared for college (Leonhardt)”. This provision affirms the fact that the recent growth in pay disparity is based on the few college graduates.

However, Leonhardt argues that college degrees may not be a solution to every economic problem that people face. For instance, the author argues, “College graduates, like almost everyone else, are suffering from the economy’s weak growth and from the disproportionate share of this growth flowing to the very richest households” (Leonhardt). This statement justifies that college education can only be part of the solution to the country’s economic problems but it may not be a solution itself. The graduates pay usually increases upon reduction of the pay for their counterparts without college degrees implying that the pay disparity does not solve the economic challenges faced by the country.

Leonhardt’s arguments that college degrees may not solve the economic problem in the country is justifiable. For instance, the fact that the economy is becoming technologically complex implies that the college education needs to be given more time to accommodate the changing need in the job market. Any element that would increase productivity is considered to render economic solution and college education may only be among those elements. However, despite solving the country’s economy, college education is worth it since it addresses the economic needs of the college graduate.

Work cited

Leonhardt, David. "Is College Worth It? Clearly, New Data Say". Nytimes.Com, 2014, https://www.nytimes.com/2014/05/27/upshot/is-college-worth-it-clearly-new-data-say.html . Accessed 28 July 2019.