“Conventional Wisdom” Not Always Wise
There’s a famous line of Mark Twain’s that goes, “The trouble isn’t what people don’t know, but rather what they know that just ain’t so.”
That’s every bit as true when it comes to education as in any other field. Ideas that people are certain are true because they’re heard them again and again are often untrue. They form the “conventional wisdom” that gets in the way of seeing things the way they really are.
In a new paper entitled “Over Invested and Over Priced,” Richard Vedder takes a critical look at several pieces of the conventional wisdom about higher education. Vedder, a jovial, outspoken economics professor (at Ohio University) has focused his attention on higher education for the last several years. He was one of the few people on the Spellings Commission who raised deep questions about the value students receive for all the money we spend on higher education. In this new paper, he continues doing that.