College and Culture
In understanding why people go to college, don't forget about culture.Â
This article is for subscribers only.
Why does anybody go to college? Economists usually suggest three reasons: investment, signaling and consumption.
A college education is a form of investment in human and social capital. Students gain knowledge and hone their intellectual talents. They learn outside the classroom, too -- developing "soft skills" and social savoir-faire. They form relationships and join networks.