University degrees… overrated.

I don’t have a degree. I count myself lucky. I haven’t been indoctrinated by years of academic vomit… that’s all there is – regurgitation. If everyone thought the same and you were one of them, isn’t that just being mediocre?

There are millions of Indians and Chinese who all aspire to be educated just like there western counterparts. They will in all likelihood graduate with flying colours. They understand the value of hard work. Poverty disciplines them. Life hardens them. Of those Indians and Chinese that study within their borders, they will graduate cheaper, faster and achieve a higher quality of education. Are you in a profession that can be outsourced to India or China? Don’t be. If you don’t know go on odesk and find out.

Americans have it pretty bad. The education industrial complex is just one big ponzi scheme, and you thought housing was bad. At least it has begun to correct itself. Nothing short of a default in America is going to correct the massive misallocation of so many young adult lives and their college degrees. The average tuition cost per year for an American college student is something in the order of $25K plus. This is all debt. Australians probably average $7K plus. I hope Australia doesn’t catch up. Simple maths tells me if an American finishes his/her degree on time your looking at $100k plus. All debt. Don’t forget the interest. Interests rates are still pretty low in America… for now. Even more compelling is when you consider income foregone. Had you simply just entered the work force without a degree, even if you earned a miserly $25K a year in an entry level job, after 4 years you would be $200K better off relative to going to college.

The next 10 years will not be smooth sailing for a lot of folks. The cohort of recent graduates have entered the workforce at a critical juncture in our modern history. They will experience what prolonged unemployment feels like. If you already have a job, don’t be complacent. Competition is just around the corner. Those smart enough to realise will need to adjust, adapt and become more savvy. Those savvy enough will work towards their own business. Only your own business has the potential to provide the leverage you need to become wealthy. Look back in history, every wealthy person made it big in their own business. Funny how many of them didn’t even go to college or flunked out early on. J.R. Simplot is a classic example. Having your own business will in effect be the education you always yearned for but was never given when you went to school. Go get it.

Anything you want to learn these days you can learn online. The best education I ever obtained was through youtube, Google, wikipedia and reading authors I trust. MIT has placed their entire curriculum online for free access. Salman Khan started the Khan Academy from nothing and now provides the most widely used education resource on youtube… all for free. TED gives you the lastest ideas from people who are at the cutting edge of their fields. Nothing else really enthral’s quite like a TED speaker.

Quite simply the Internet is responsible for the biggest and most effective democratisation of knowledge and with it the power anyone has ever witnessed. It’s Guthenburg on steroids. To unlock the power you need gumption. Here your on your own. You can’t teach gumption. It’s a product of many things; hard work, luck, experience, perseverance, habit, failure, drive, purpose, ambition…you get the gist. Acquire the gumption at all costs.

Ideas are free. Teaching yourself these ideas will cost time. Having others teach it to you will cost both time and money. Only use the latter if it is necessary. Gender studies and Greek mythology is not. Logic, maths, science, grammar, rhetoric and economics is.

If you have to get a degree to get through Government licensed cartels i.e. accreditation boards, get it cheap by getting it online. Heed Gary North’s advice on this or become a student debt slave at your won peril.

With that preface. Watch this –

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About 1D

I've been fermenting in Canberra OZ for awhile now... Like all public servants I'm battling the cubicle nation... This blog will share my personal journey in which I am preparing to get out of cubicle jail... Time to be your own architect...
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