There has been a lot of talk about the knowledge economy and how education is the key. This has been true since the dawn of time.

What is intetesting would be that they want every single one of us to be degree holders to fuel the knowledge economy. Where do we get menial labor then? We import from poorer countries they say.

I got news for you, IT AIN'T going to happen. It is true that upping the amount of knowledge workers is the right move. However, it is unlikely for that to happen, some people are more skilled as blue collar workers, fact of life. This is simply not doable without compromising the standard of education to increase the amount of graduates. Doing so will do more harm than good. Doing so will reduce the value of the certificate and in turn, driving lower wages for degree holders. This would in turn, drive people to take their masters and to a lesser degree, their PhD. This will strain the nation's schools due to people staying in longer, cost more for the parents and in turn put undue importance to a sheet of paper that should have been taken after working a few years to see what field conditions are like.

All of those are without even considering the social cost of importing large amounts of foreign workers with different culture and at times ulterior motives.

It is true that education is a way to promote social mobility but as with anything, if taken to extremes, may be counter productive and in my opinion create a class of haves and have nots due to a drive to push everyone to be geniuses. This might even exacerbate the issue of people using personal contacts rather than merits due to a highly competitive environment coupled with a declining value of degrees which has mostly been compromised in quality to increase the quantity of graduates.

– benjamin wong | long live and prosper