“Higher education is a corrupt institution that saddles students with heavy debts and helps them into careers that pay well but are ultimately not going to help our country.” — Peter Thiel
“The idea of paying an institution for an education is foolish. Education is something you do for yourself.” — Doug Casey
Going to college is suddenly on the defense, due to high costs and brainwashing students with “woke” culture. Is it worth it, and if not, is there a better way?
In my classes at Chapman University in California, I teach students that a college degree can lead to financial success. I show them this chart, showing that the more former education you have, the better your chances of succeeding.
But will that be the case in the future, given the threats of technology (AI) and foreign competition? Right now, job opportunities for college graduates are scarce. It’s not easy finding a job these days.
Many pundits question the value of a college education in the future.
In his 2022 book “The College Scam,” the late Charlie Kirk repeatedly told college kids, “You don’t need college to make your dreams happen.”
The subtitle of his book is “How America’s Universities Are Bankrupting and Brainwashing Away the Future of America’s Youth.”
Mike Rowe, famous for his TV series, “Dirty Jobs,” says a four-year college degree may not be the best choice. He notes that many high-paying jobs don’t require a degree, and a college education doesn’t guarantee a good job or high salary.
Rowe recommends “trade schools.” Vocational training and apprenticeships are a more efficient way to learn a valuable skill.
Billionaire entrepreneur Peter Thiel even goes so far as to offer the Thiel Fellowship that pays young people $200,000 over two years to drop out of college (which he calls “the education bubble”) and pursue entrepreneurial projects. For many students, he said, college is not an investment, but a “consumption good, a four-year party.”
Doug Casey’s ‘Preparation’ Book: The Importance of a Liberal Arts Education
My long-time friend and anarcho-capitalist Doug Casey recently came up with the idea of writing a “how to” guidebook, “The Preparation,” on how young people can be successful in life without a college degree.
Doug graduated from Georgetown University (along with former President Bill Clinton) but later regretted that decision. In the introduction, he writes, “Although I enjoyed my time on campus, college didn’t prepare me to deal with life. If I’d had good counsel — or a book like this — I would have used those four years more productively.”
Then he adds, “I consider college to have been a misallocation of time and money.”
“The Preparation” is authored mostly by Doug’s friend Matthew Smith and Matt’s son Maxim. Doug has written the introduction and a couple of chapters, and is the inspiration for the book. You can order the book here: The Preparation: How To Become Competent, Confident, and Dangerous: Casey, Doug, Smith, Matt, Smith, Maxim: 9798296822239: Amazon.com: Books.
The Importance of a Liberal Arts Education
In reading “The Preparation,” the authors make a case for pursuing a liberal arts education, and to know a good deal about science, history, economics and literature, like an Eagle Scout.
I know many people who seek to be a Renaissance lifestyle with knowledge and skills in many areas and have a well-balanced career in the four pillars of life — social, intellectual, physical and spiritual. I’ve done this myself. In college, I majored in economics, but took plenty of electives in genetics, literature, art, handball, fencing, philosophy and world religions. I’m a better man because of it.
Doug Casey signing one of his spy novels at FreedomFest.
Doug has lived a fascinating life. As Matt Smith, his co-author, writes, “Doug Casey is part Indiana Jones, part Socrates, and part James Bond. He’s traveled to over 175 countries in search of fun and profit, searched for sunken treasure, befriended generals, negotiated with presidents and traded stories with mercenaries.” He’s also written a bestselling book, “Crisis Investing,” and “The International Man.” He’s a man of leisure who enjoys playing a variety of sports, including polo, and has been a regular speaker over the years at FreedomFest and the New Orleans gold conference. He’s even written several spy novels.
Ben Franklin is Their Role Model!
In reading “The Preparation,” I thought of Benjamin Franklin as another role model. He never went to Harvard or Yale and had only a couple of years of formal education, yet he aggressively pursued a program of self-education as described in his famous “Autobiography.”
In my new book, “The Greatest American,” I noted that Franklin had 22 careers in his lifetime, including printer, scientist, inventor, musician, clerk, legislator, diplomat, military leader, economist, postmaster, banker, author — and humorist.
He was a jack of all trades, and a master of most!
Franklin chose to be an apprentice in the publishing business, and excelled as a printer in Philadelphia. As the publisher of the Pennsylvania Gazette, he expanded his knowledge of science, philosophy, economics and politics, and published essays and satires on a wide range of topics, including health care, defense, business, drinking, religion, marriage, legal prose and a long “History of North America.” In 1737, he reprinted “The Morals of Confucius.”
He organized the Junto, the club of useful knowledge, and was a voracious reader of books. He learned French, Italian and Spanish, and became a good chess player. He travelled throughout Europe and became the Renaissance Man of his age.
His famous line was “The used key is always bright.” Always keep learning. Because of his constant curiosity and diversity of careers, he lived to be 84 years of age.
He was so successful that he received honorary degrees from Harvard, Yale, Oxford and St. Andrews.
‘Surely You’re Joking, Mr. Casey?’
My only reservation is that Doug and Co. go overboard. The authors’s goal for young people is overwhelming and impractical. Rather than encouraging students to specialize in one or two areas in their career, they urge them to become experts in virtually every area of life — in four years’ time!
They teach students to become masters of all the various trades out there… to learn to be a welder, fisherman, sailor, chef, architect, homebuilder, farmer, cowboy, pilot, medic, heavy equipment operator and martial arts fighter, and play all the sports and games out there, and be good at everything, as if anyone can be a rocket scientist, neurosurgeon, an astronaut or a polo player, along with everything else. My head was spinning.
Maybe a Ben Franklin or a Doug Casey are capable of this diversity of expertise, but us ordinary mortals may struggle… and feel guilty by not achieving the high standard the authors set in such a short period of time.
Their goal reminds me of Karl Marx, who once said that a citizen should “hunt in the morning, fish in the afternoon, rear cattle in the evening, criticise after dinner.” According to Marx, the ideal society is where individuals are not limited to a single profession but can pursue diverse activities throughout the year.
This is only possible if you are financially independent (as Doug Casey is); the rest of us need to specialize in an occupation that hopefully will give us the leisure time to pursue a diverse lifestyle.
To Specialize or Not to Specialize?
Alas, the authors of “The Preparation” actually spurn the idea of specialization, of spending most of your career in one profession: “Conventional wisdom suggests that to succeed it’s best to focus on a single path of specialization. They tell you to become an expert with a PHD, MD, or MBA. That is terrible advice.”
Seriously? They want none of Adam Smith’s specialization and division of labor that have made America so productive!
Even Ben Franklin knew he needed to specialize as a printer, and then could pursue other interests. He was so successful as a printer that he could retire at age 42, to pursue his scientific studies and civic duties.
As Mark Cuban tells students: “Don’t follow the dream; follow the green.” After you’re made it financially you can safely pursue your dreams.
There Is a Better Way
I’d like to suggest a better way, what I call the Aristotelian “Golden Mean” — a combination of a good college education and continuing self-education throughout your life. It doesn’t have to be an “either-or” decision. You can and should do both. That’s what I did, and it worked out fine.
Ben Franklin recommended this approach. He recognized his own lack of formal education, and led the effort to create institutions of higher learning, including the creation and funding of the University of Pennslyvania, the first Public Library and the Negro School in Philadelphia.
While in London in 1766, he wrote letters of recommendation for two sons of business associates who planned on studying medicine at the University of Edinburgh. He counseled that they learn more than just the study of medicine, but “several branches of knowledge.”
Back in America, he said, “It gives me extreme pleasure to find seminaries of learning are increasing in America. I wrote and published ‘Proposals Relating to the Education of Youth in Pennsylvania.’ The instruction of youth is one of the employments which are most useful to the public… in forming of virtuous and able men.”
In Poor Richard’s Almanac, he wrote, “Genius without education is like silver in the mine.”
See especially chapter 60, “On a Lifetime Education,” in my Franklin book, “The Greatest American,” available at a discount at www.skousenbooks.com. I autograph each copy and mail it at no additional charge inside the United States. Each copy includes a rare Franklin stamp, making it a collectible.
Be Careful What College You Choose
My final advice is to be careful what college you or your children/grandchildren select. Most colleges and universities are full of misguided professors who will indoctrinate your son or daughter into a lot of nonsense and “woke” philosophy that will take years to overcome.
I suggest you consult Heritage Foundation’s guidebook, “Choose College with Confidence” before you make your decision. Heritage rates 280 colleges and universities as either green, yellow or red.
Data Visualization | Choose College with Confidence | The Heritage Foundation
Surprisingly, Chapman University, where my wife and I teach, is not on the list. It should definitely be on possible “dream schools.” My wife Jo Ann teaches English literature and poetry, and I teach economics, business and finance. The faculty there is first rate, and past presidents (Jim Doti and Daniele Struppa) support free speech and free markets, as does the new president (Matt Parlow). Chapman is the only school I know that has statutes/busts of Adam Smith, Milton Friedman, Ronald Reagan, Margaret Thatcher and Ayn Rand on campus. For more information, go to www.chapman.edu.
Two Upcoming Events You Won’t Want to Miss
I urge you to attend these two FREE events, one in Orlando on Veteran’s Day, Nov. 11, and the other in the Phoenix area on Sunday, Nov. 23. Here are the details:
Event #1: This Just In. Financial Guru Alex Green Will Join Me at the Barnes & Noble Book Signing on Nov. 11
I’ll be talking about my new book, “The Greatest American: Benjamin Franklin, the World’s Most Versatile Genius,” followed by Q&A and an autograph session. Each copy will receive a rare Franklin stamp, making it a collectible.
BIG NEWS: The M&A Veterans Show is on! I’m excited to announce that Alex Green, chief investment strategist at the Oxford Club, will be joining me at my Barnes & Noble book signing.
It turns out that the official pub date for Alex’s new book, “The American Dream: Why It’s Still Alive and How to Achieve it,” is Nov. 11.
Get two veteran authors for one! It’s a perfect match because Ben Franklin is the epitome of the American Dream.
The M&A activity will take place at the Barnes & Noble Bookstore on 2418 E. Colonial Dr. in Orlando, Florida, on Veteran’s Day, Nov. 11, starting at 6 p.m.
I expect a full crowd. Come early and find a seat! You must reserve a spot for this event at Mark Skousen Author Event. See you there for this most memorable event.
Event #2: Sunday Fireside, Nov. 23, at the Heritage Academy
I’ve organized a very important get together in Arizona to discuss this vital topic: “America’s Divine Destiny: Is the Constitution Hanging by a Thread?”
Keysote speaker Congressman Andy Biggs, who is also running for governor next year, will join me and Jo Ann for speeches and a panel.
I will also be moderating a panel on “Trump and the Limits of the Constitution,” with Congressman Biggs, Floyd Brown (founder, Western Journal), Earl Taylor (president, National Center for Constitutional Studies) and Jo Ann Skousen.
Jo Ann and I will also be speaking about our book, “There Were Giants in the Land: Episodes in the Life of W. Cleon Skousen,” followed by an autograph session.
This is a free event, but space is limited; you must register as this event will sell out. Go here to register at https://www.eventbrite.com/e/americas-divine-destiny-tickets-1875631055979?aff=oddtdtcreator.
Good investing, AEIOU,
Mark Skousen
You Blew It!
My Run-in with Actor Robert Redford
Last month, the famous actor Robert Redford passed away at the age of 89. He reached his Fibonacci number!
Photo by John Mathew Smith/celebrity-photos.com, CC BY-SA 2.0.
He made 80 films and directed/produced many more. My favorites are “Butch Cassiday and the Sundance Kid” (1969) with Paul Newman, “Jeremiah Johnson” (1972) — my wife and I got engaged in Jeremiah Johnson’s cabin in Utah before it burned down! — “The Candidate” (1972), one of the best films about politics — “The Sting” (1973) and “The Natural” (1984).
He lived in Utah, where he founded the highly popular Sundance Film Festival. We attended one year when “Napoleon Dynamite” was selected as an independent film (my son Tim was the first assistant director of the film).
Years ago, my mother bought a cabin up at Sundance, and we would occasionally see Redford at his restaurant or on the ski slopes.
My encounter with Redford occurred in 1992 after seeing a film he produced and directed called “A River Runs Through it,” starring a young Brad Pitt.
The film is based on a novella written by Norman Mclean about the conflicting relationship of two brothers in Montana who enjoyed fly fishing. The film did a great job recreating the plot. The scenery was magnificent and the Mclean story was moving as the brothers achieved a degree of perfection in fly fishing.
In interviews, Redford emphasized the importance of being true to the original author. And that raised an issue. At the end of the film, the producers boldly declared, “No fish were killed” in the making of the movie. Indeed, I noticed that there were no scenes where the fish were gutted or eaten.
I was taken aback by this “politically correct” statement, which I thought was hypocritical, given that the Mcleans were fishermen who loved the sport and loved eating fish. Should we feel guilty fishing or eating fish?
I wrote Redford a letter with my complaint, thinking I would not possibly get a response, but lo and behold, apparently Redford was so incensed by my letter that he wrote this terse reply.
Here it is:
I’ve since had the letter framed along with the film poster and an autographed photograph of Mr. Redford. A true collector’s item.
