HIGHER EDUCATION BUBBLE UPDATE: Supersizing Higher Education Is Not The Answer:

Wood demonstrates that there is no connection between where a nation stands in that regard and its economic success; some countries with higher percentages than ours are economically feeble (e.g. Russia) and others with lower percentages than ours are strong (e.g. Switzerland).

What truly correlates with economic success is not how many people get college credentials, but the degree of economic freedom in a country. Hong Kong isn’t prosperous because a large percentage of its citizens get college degrees. It’s prosperous because the government doesn’t meddle in the economy. In the Index of Economic Freedom, Hong Kong has been No. 1 for a long time. In that same index, the U.S. has been falling for years, and is now No. 10.

Too bad that Obama isn’t determined to elevate the U.S. to No. 1 in that respect.