Good question. George Leef:
Bok’s view, in short, is like that of former Michigan governor Jennifer Granholm who declared that higher education “is like jet fuel for the economy.” Pour in the fuel and the economy roars. The trouble is that this view is mistaken.
At no point does Bok mention that the nation already has large numbers of college graduates who are working in jobs that any reasonably smart high school student could learn. Nor does he see that due to the “positional” nature of educational credentials, the more we push “attainment,” the higher the degree level people need to set themselves apart—the credential inflation problem I have often written about. Finally, Bok barely acknowledges that many successful Americans acquired the knowledge they need without completing college, and in many cases never going at all.