This whole "freedom to study whatever subject you want" thing is a red herring as well. One gets the impression that the poor job market for college grads since 2007 is a function of college majors. As if at the exact moment in time Lehman went bust and AIG needed a massive bailout, college students suddenly decided to all study queer basketweaving theory and were no longer employable. In reality, economics and business are overwhelmingly popular college majors. It's not even clear that the labor-market function of higher education is to educate people for the workplace (as opposed to providing a sorting mechanism that allows employers to figure out the ability level of their entry-level hires).
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