Can’t make a dent in the top one
percent
“As the economist Lawrence Summers and two colleagues
showed in a recent simulation, even if we magically summoned
up college degrees for a tenth of all the working-age American
men who don't have them - by historical standards, a big boost in
college-graduation rates - we'd scarcely change the existing
concentration of income at the very top of the earnings
distribution, where C.E.O.s and hedge-fund managers live.”
showed in a recent simulation, even if we magically summoned
up college degrees for a tenth of all the working-age American
men who don't have them - by historical standards, a big boost in
college-graduation rates - we'd scarcely change the existing
concentration of income at the very top of the earnings
distribution, where C.E.O.s and hedge-fund managers live.”
Cassidy, John, “College Calculus, What’s the Real Value of
College Education?” New Yorker, September 7, 2015, pp: 80-84.
