In 2001, the Nobel Prize was awarded to economist Michael Spence for a mathematical model of one explanation for these puzzles: signaling.14 The basic idea is that students go to school not so much to learn useful job skills as to show off their work potential to future employers. In other words, the value of education isn’t just about learning; it’s also about credentialing. Of course, this idea is much older than Spence; he’s just famous for expressing the idea in math.
If you liked school you would love work - irvine Welsh
