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The myth of the knowledge economy

June 6, 2016

Andre Spicer argues that the knowledge economy is a myth:

The majority of jobs being created today do not require degree-level qualifications. In the US in 2010, 20% of jobs required a bachelor’s degree, 43% required a high-school education, and 26% did not even require that. Meanwhile, 40% of young people study for degrees. This means over half the people gaining degrees today will find themselves working in jobs that don’t require one.

Of course, the notion of the knowledge economy originated in the 1960s. Perhaps it wasn’t so much a myth as a recognizable trend that is now past its expiry date.

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