HE has traditionally been the realm of the academic elite. Single figure percentages of the population attended. Entrance was determined by stellar academic performance. Graduating from university was a true differentiator. You possessed a qualification the vast majority of the population did not. You could use this qualification to charge a premium in the jobs market.
This is economics 101. The Knowledge Economy required people with university level qualifications. As the supply of graduates was low, degree holders could demand higher wages in return for their services. Once this trend became common knowledge, everyone wanted a piece of the pie. The world and […]