We've already addressed
grade inflation in this blog, but what is
academic inflation?
Simply put,
academic inflation occurs when the minimum level of education required for employment rises, without there being any actual need for more highly trained employees. Parallel to this process is the inflation in the cost of education itself as seen below.
According to the
Bureau of Labor Statistics, over the past 40 years household income has increased by a factor of 6.5, while college tuition costs have increased by a factor of 15 for in-state and 24 for out-of-state students. Young people are getting hit twice: they need increasing amounts of education in order to find jobs AND they are being gouged on the price of that education.
