This post may be a bit unconventional and thus requires a few links. http://krugman.blogs.nytimes.com/2015/02/22/rip-van-skillsgap/?_r=0 is the primary one, including the links to the conference paper in the article (http://www.hamiltonproject.org/files/downloads_and_links/Work_in_Machine_Age_February_2015_FINAL.pdf). It discusses the skills gap/lowering average income of those with higher education in the US and outlines some of the reasons this could be the case. It discusses this and the value of various skills in an increasingly machine-based economy.
However, it leaves out discussion on a number of things: 1) degree inflation -- with more and more people having bachelors or higher degrees (and not that many more jobs actually requiring them), the workforce available goes up, and 2) Same thing applies to general population -- with a higher population and more jobs being exportable, the skills required become available to employers significantly cheaper. http://www.washingtonpost.com/opinions/catherine-rampell-college-is-not-a-losing-investment/2014/04/24/b888eac8-cbd2-11e3-95f7-7ecdde72d2ea_story.html discusses another point: that even though degrees may not be necessary for every job on the market, those of equal age possessing them vs those without generally have a lower rate of unemployment.
All in all, this is an extremely interesting debate that will likely continue for years.
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