I think the focus on getting the right degrees is key – a lot of the “skills” are really just consumption by people getting training, rather than actual skills.

Its tough, but we need people to distinguish between education for the sake of enjoyment and betterment of your personal life, and education in order to build human capital in the workforce.  People don’t like to think of themselves as a labour input.

Yar, and it ignores that a sticky wage prices “new entrants” out of the market by holding up the wage rate in an industry – given that in many circumstances new entrants can’t come in at a lower wage, due to the risk it is observed and leads to complaints about unfairness.

However, I was focused on simply rising the investment point – as it was missing.