Matúš Kočalka, Chapter 6, Question 5

Mr. Wheelan gives us an example with 100 000 student dropouts and 100 000 educated students. Both groups are transported into the same big city - Chicago. In the first case, after these dropouts came, it would cause a chaos, because there wouldn´t be enough work and the officials of the city of Chicago would either try to get rid of them, or to get some financial support that would provide the work opportunities for them. In the second case, educated students would be successful in finding the jobs, creating new companies and it wouldn´t be disaster (as it was in the first case). 

This brings me into the confusion. I understand that the human capital is nowadays highly demanded and that there´re benefits coming out of employing the educated people, but on the other hand - where´s the limit? The author states that: "the more productive we are, the richer we are." But if the wealth comes hand in hand with the education, then what if everyone starts to go to the university? 

My example is taken from Slovakia, but I´m sure that it´s happening in the other parts of the world as well. Young people in our country are attending universities/ colleges, because they want to graduate and to have a title in front of their names - since it means to have a better future. The social structure therefore changed. As opposed of the past, when we had a lot of people having just the high school education, nowadays almost everyone gets the university degree. But this means that we´ve thousands of educated people, who want to get the job - and do we have enough job opportunities? No. It´s sad, but young people in Slovakia have trouble to find a job, and they many times have to lower their skills and take the inferior work, or they´re unlucky and they don´t manage to get any job. If the market is overflowed by the university graduates and the education loses its worth.