I've heard that argument before. I don't buy it because I know too many smart and talented people who never went to college and are doing as well or better than folks that did. It isn't the school, it's the drive.
For example, a friend of mine doesn't have a college degree nor even a HS diploma, yet is a talented system engineer. I don't know his salary, but I'd be surprised if it weren't close to or above 100k given he's turned down that sort of money because he didn't want to work in DC.
Chris
Good point - the statistic is it seems flawed. However, my gut tells me that the birthrate amongst successfull people with drive and intelligence is probably lower than that of the rest of society. That will eventually lead to a problem if it continues.
I'll predict that in a few hundred years there will be a core of elite, intelligent folk running things and the covert caste system that exists today will become very overt - maybe as over as in
Brave New World if the present trend continues.
On the other hand the cream does tent to rise to the top - especially in the USA - so maybe there won't be a problem - I wouldn't make that bet though.