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Is The College Promise Broken? - ft. Noam Scheiber, Sonic AI
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Is The College Promise Broken? - ft. Noam Scheiber
Capital Isn't
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Apr 16, 2026
•
41:14
Interview
Is The College Promise Broken? - ft. Noam Scheiber
From
Capital Isn't
Bethany McLean
(Host, Capital Isn't)
•
Luigi Zingales
(Host, Capital Isn't)
•
Noam Scheiber
(New York Times reporter and author)
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Executive Summary
The lifetime financial return on a college degree is steadily declining, especially when accounting for student debt, with the return approaching zero for Black individuals born in the 1990s.
A mismatch between graduates' expectations and the reality of a job market impacted by automation, consolidation, and an oversupply of degree-holders is creating a "psychological injury." This disillusionment among educated but underemployed graduates is fueling a new wave of white-collar labor activism and unionization, signaling potential for significant social and political upheaval.
Systemic failures are to blame, including universities' aggressive marketing without accountability, a student loan system that removes risk for lenders, and corporate short-termism that punishes investment in labor.
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Processed May 4, 2026
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