The Curious Capitalist, Justin Fox, Economy, Markets, Business, TIME

July 9, 2007 8:07

The disappointing rewards to college education in the game of Life

Posted by Justin Fox | Comments (7) | Permalink | Trackbacks (0) | Email This

In previous playings I had been appalled at how little payoff there seemed to be to attending college, but I almost always chose to anyway. Wanted to be a good example to Curious Capitalist Jr., I guess.

Anyway, it turned out I had failed to read the part in the rules where it says college grads get to pull three career cards and choose the best of the lot (those who skip college only get to pull one card). On Saturday I finally noticed this, and I'm sure it improved my odds to the point that the $100,000 in college loans was worthwhile. But Jr., who never chooses college, won the game yet again. That's his blue car in the lead:

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Reader Comments (7)

Peter Varhol:

As with any game, including Life, your mileage may vary.

Posted by Peter Varhol | July 9, 2007 8:12 AM

p_lukasiak:

Is that a vintage version of the game?

Posted by p_lukasiak | July 9, 2007 9:38 AM

YMM:

Just goes to show, sometimes following the rules just never helps....

Posted by YMM | July 9, 2007 11:07 AM

Justin Fox:

I don't think it's a vintage version. I'm pretty sure we bought it new four or five years ago.

Posted by Justin Fox | July 9, 2007 11:22 AM

muckdog:

Well, the unemployment rate for college grads is under 2%. Over 6% without a degree.

Posted by muckdog | July 9, 2007 2:02 PM

Yadgyu:

College is more of a symbol of success than a true sign of success. College is all a part of the "American Dream". I personally think that 40% of the kids who go to college are wasting their time. These are kids never really liked school, got mediocre grades, do not know what career that they want to pursue, and /or who could be better off learning a trade and becoming successful.

I know many people who have degrees and now do not even work in their fields of study. College is not a bad thing, but I think the notion of parents making their kids go to college is a part of "keeping up with the Joneses". Some kids would be better off actually learning what they enjoy doing or learning something that could really benefit them. Going to college to get a job at a big corporation is not the road to success for everyone.

College is a trap by the elite to get middle class people into spending money at universities. These schools give degrees but what they really want is money so they can do research. Schools do business with other corporations in order to make a profit. Colleges and universities are businesses. They are in it for the money.

It seems that you need more and more education to "succeed" these days. But many degrees are not even worth the paper that they are written on. Colleges only prepare you to get a job. They do not prepare you to be financially successful or how to “get ahead”. If you want to have a steady job at a corporation, go to college. If you really want to be rich, you need to have an idea and execute it. No school is going to teach you how to make it.

Taking out loans to get an education is a fool's game. How can you get ahead when you have to pay to "learn"? The debt you incur from college will continue to haunt you well into your career even if you make a lot of money. Is it really worth going back to school to learn things that you will not use anyway just to get a degree? No.

Posted by Yadgyu | July 9, 2007 3:07 PM

Anonymous:

There isn't major or degree in "making money." Going to college for most equals going to work for a corporation and making other people rich.

Posted by Anonymous | July 12, 2007 6:01 PM