Lil Tuttle of the Claire Booth Luce Policy Institute asks that question here and the likely answer, given the path that the Obama administration is intent on following (increasing college subsidies, “green” initiatives, ever-greater federal domination of the economy), is that we’ll have more and more college grads with little to do. That’s the way things are in Europe.

Hmmmm . . . large numbers of fairly idle young people who think they’re educated. Sounds like a recipe for continuing trouble of the kind Schumpeter envisioned.