THE CHILDREN ARE OUR FUTURE..

I have had an entertaining yet mildly worrying exchange of emails with a friend of mine who runs a business not dissimilar to me.

He and hiw wife are now to have their second child, after rearing the first to 16 years old.

Our emails went something like this (the names have been changed to protect the guilty)..

>>From: A September 22, 2009
>>There's going to be a little addition to the (family) next March.
Yes, we are having a baby! F had the 12 week scan and all's well, so it's going to be a busy 2010 (actually make that 2010-2028!)
A

>>From: Polko September 22, 2009
>>Congratulations, and make that 2010 - 2031!!
Polko

>>From: A September 22, 2009
>>Maybe, but I reckon by 2028, that 99.9% of the population will be going to university and therefore our latest addition will have a free choice of decent jobs without the need for us to fund 3yrs drinking!
A

>>From: Polko September 22, 2009
>>I think you may be right. I even had a conversation with [my son] about the validity or otherwise of even getting a degree now that you can readily become a BA in Cultural Media Assorted World Studies easily enough. There is a strong argument for simply learning from those around you and start your own business at 15.. Get on with it whilst the others are mounting up their debts and forcing themselves to become wage slaves forever..
Polko

To put it another way.. University education gives you knowledge sure enough. But it doesn't provide much by way of attitudes and competencies that are then directly useful in the world of work. Through my day to day experience with plenty of people from diverse backgrounds in property, business and even to some extent the public sector, it is the people who have the right attitude and can readily apply modern competencies that get on and enjoy professional success - be that making money, managing people or organising organisations.

There will always be a need for core degree subjects - not many doctors, lawyers or civil engineers can get away without a College education I guess (but you know, some can!). For the rest isn't it what you do with it rather than what you know at the end that defines the benefits of a University education?

On the money side of things, as an economist I am familiar with all the econometric studies that show a positive return on a First Degree education and the even higher return to continuing this into Masters levels (the biggest leap in lifetime income potential is recorded there), but many of these studies are now being outmoded based as they are on old data series and a continuing structural shift in the modern labour market and skills demands of employers. The world is changing. And fast. There are now many disparities in income generating potential with plumbers and tradesmen often earning way in excess of somebody with a degree, even a good degree from a renowned University. And I personally know people in business who began very early, failed a few times, learned a lot and are now sat very comfortably indeed.


Just a thought.

And if you just can't be bothered click here and print out whichever degree certificate you want..