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FROM THIS EPISODE

The cost of a college education is creating mountains of debt, and many graduates are underemployed or out of work altogether. What are the benefits of traditional higher education in a changing economy?  Also, the unemployment rate drops to 7.8 percent, the lowest since President Obama took office, and a turbulent week and grounded flights for American Airlines.

 

Banner image: Overview of the University of California, Berkeley campus from the Berkeley Lab, from up the hills and south-westward. California, USA.. Photo: Introvert/wikimedia

Making News Unemployment Rate Drops to Lowest Since Obama Took Office 7 MIN, 36 SEC

After hovering above 8 percent for most of the Obama Administration, unemployment dropped last month to 7.8 percent. While the President touted the September figures, Mitt Romney attributed the drop to people dropping out of the workforce. Neil Irwin reports on economics for the Washington Post.

Guests:
Neil Irwin, New York Times (@Neil_Irwin)

Reporter's Notebook Turbulent Week and Grounded Flights for American Airlines 7 MIN, 11 SEC

American Airlines is in bankruptcy, and a contract dispute with pilots has disrupted its operations. Now safety issues involving passenger seats in 48 of its more than 100 airplanes have led to flight cancelations. Andy Pasztor covers aviation and the airline industry for the Wall Street Journal.

Guests:
Andy Pasztor, Wall Street Journal

Main Topic Is Higher Education Worth What It Costs? 36 MIN, 13 SEC

The cost of college is rising at two or three times the rate of inflation and student loans are creating decades of debt. When the high-paying jobs promised graduates often aren't there, how long can this keep going on? Is the traditional "liberal arts education" obsolete in a changing economy or is the focus on critical thinking a pathway to economic opportunity? What about the "academic arms race" to raise faculty salaries, finance football teams and provide living quarters that compare to expensive hotels?

Guests:
Scott Gerber, Young Entrepreneur Council (@askgerber)
Andrew Delbanco, Columbia University
Richard Vedder, Center for College Affordability and Productivity (@RichardVedder)
Adam Falk, Williams College

Going Broke by Degree

Richard Vedder

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