The Washington Post’s Fred Hiatt writes here about South Korea, a country where education is valued very highly (on the whole, a lot more so than in the U.S.) and great numbers of eager students graduate from college every year. The predictable problem is that many of them can’t find work commensurate with their education. The government now wants to lower the number of students going to college.
Again we see that the idea that supply creates its own demand with regard to education is mistaken.