> In the words of Syndrome "if everyone is super, no one is". If every one has a BS/BA , masters, PHD then in a real sense no one really does.
This is a very small minded view of the world.
If I have a PhD, and everyone else does too, it's like I don't have one? No! I learned many things during my PhD, and that knowledge doesn't disappear because others have more knowledge too.
It seems the only thing you consider is jobs, but even there you're wrong. The job market is not zero sum.
> Yet governments may actually be overestimating the economic benefits of higher education. While universities are places of learning, they are also social sorting mechanisms.
Yes, so? The universities being a social sorting mechanism does not stop them from also being places of learning. This is American anti-intellectualism 101.