Education seems to pay. Human capital purism advances a single explanation: education pays because education teaches lots of useful job skills. A tempting story . . . until you stare at what schools teach, what students learn, and what adults know. Then human capital purism looks not just overstated, but Orwellian. Most of what schools teach has no value in the labor market. Students fail to learn most of what they’re taught. Adults forget most of what they learn. When you mention these awkward facts, educators speak to you of miracles: studying anything makes you better at everything. Never
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