Higher Education: Too Much of a (Potentially) Good Thing?

Recent decades have seen a dramatic expansion in higher education. Americans are accessing higher education at growing rates, at the undergraduate level and beyond. While this process is widely celebrated, this Article argues that the proliferation of higher education has, also, a dark side. Through a myriad of empirical evidence, we show that American higher education is plagued by an 'arms race'. Individuals acquire more education than is needed for performing their job or for personal growth, in order to gain an edge in a competitive job market. As people gain more education, employers become more selective, further fueling the educational arms-race. The Article argues that this arms-race is both socially wasteful and unjust. It is wasteful because enormous resources are invested by individuals and the public on higher education, without increasing work productivity or contributing to economic growth. It is unjust because it benefits those who can afford to study, while others are either forced to incur huge debt to fund education, or are left with low- paying menial jobs. The article then discusses several legal solutions aimed at mitigating the educational arms-race. The suggestions are designed to target only cases in which the expansion in higher education is indeed inefficient and unjust, rather than to restrict higher education generally. The first suggestion involves “banning the higher education box�?, namely considering higher education requirements discriminatory when they are unjustified by a business necessity and cause racial disparity. Second, we offer imposing a “Signaling Fee�? on employers upon hiring overeducated workers; and third we propose encouraging practices of lifelong learning and on-the-job-training. Adopting these (and perhaps other) measures is crucial for reversing the educational arms race and safeguarding higher education as the socially beneficial institution it should be.