Much of it is unexceptionable in that it summarizes what we know, albeit in a pretentious way. However he ends by quoting the statistics on education level related to unemployment level and then suggests we subsidize everybody to go to college.
What he fails to grasp is that much of what makes college degrees valuable in getting jobs is their scarcity value. If everyone had a college degree the unemployment rate would be the same as it is now. Human resource professionals would have found some other criteria to winnow out the winners from the also-rans.
Many jobs which could be done by alert high school grads are being done by college grads because there is a tendency for HR people to hire the most qualified applicants who will take the job. Requiring a college degree, or even a degree from a select group of elite colleges, is a way to easily disqualify most of the applicants in a tall stack, "easily" being the operational term.
