The Case Against Education by Bryan Caplan

[Johann]

In an odd way, this is really a continuation of old news - 130 years or more. I've read that old-time capitalists welcomed the idea of compulsory schooling (then to 12 or 14) as it would produce young people pre-conditioned to the workplace. They had learned obedience and were tractable enough to do what they were told at work - and were capable of sticking to a task.

Now, it takes college to finish the job, it seems. Very pessimistic approach - so probably nearer the truth than we like to think.