The labor market pays you for what you know now, Bryan Caplan explains (in The Case Against Education), not what you knew on graduation day:
For human capital purists, the coexistence of a high education premium and low learning/retention would be a puzzle. The less students know and remember, the greater the puzzle.
For the signaling model, in contrast, the coexistence of a high education premium and low learning/ retention raises no eyebrows. While students could signal their intelligence, conscientiousness, and conformity by acquiring and retaining a vast stock of knowledge, they don’t have to. Students can win employers’ favor by learning enough to get a good grade—then forgetting every lesson.
[…]
But summer learning loss is only a special case of the problem of fadeout: human beings poorly retain knowledge they rarely use.
[…]
Most people who take high school algebra and geometry forget about half of what they learn within five years and forget almost everything within twenty-five years. Only people who continue on to calculus retain most of their algebra and geometry.
[…]
Surveys of adults’ knowledge of reading, math, history, civics, science, and foreign languages are already on the shelf. The results are stark: Basic literacy and numeracy are virtually the only book learning most American adults possess. While the average American spends years and years studying other subjects, they recall next to nothing about them. If schools teach us everything we know about history, civics, science, and foreign languages, their achievement is pitiful.
In 2003, the United States Department of Education gave about 18,000 randomly selected Americans the National Assessment of Adult Literacy (NAAL). The NAAL tested prose literacy (“knowledge and skills needed to search, comprehend, and use information from continuous texts”), document literacy (“knowledge and skills needed to search, comprehend, and use information from noncontinuous texts”), and quantitative literacy (“knowledge and skills needed to identify and perform computations using numbers that are embedded in printed materials”).
[…]
The ignorance revealed by the NAAL is numbing. Only modest majorities are Intermediate or Proficient on the prose and document tests. Under half are Intermediate or Proficient on the quantitative test. Reviewing specific questions underscores the severity of the ignorance. Barely half know that saving $.05 per gallon on 140 gallons of oil equals $7.00. Thirty-five percent of Americans can’t correctly enter a name and address on a Certified Mail form—with no points off for misspelling! Schools do far less to cure illiteracy and innumeracy than we’d like to think.
[…]
While today’s dropouts almost always spend at least nine years in school, over half remain functionally illiterate and innumerate. Over half of high school grads have less than the minimum skills one would naively expect them to possess. Though college grads spend at least seventeen years in school, under a third have the level of literacy and numeracy we assume of every college freshman.
[…]
Starting with history and civics, all national surveys find severe ignorance. The American Revolution Center tested 1,001 adult Americans’ knowledge of the American Revolution. Eighty-three percent earned failing grades. The Intercollegiate Studies Institute tested over 2,500 adult Americans’ knowledge of American government and American history. Seventy-one percent earned failing grades. Newsweek magazine gave 1,000 Americans the U.S. Citizenship Test. Thirty-eight percent scored too low to become citizens of their own country. On the 2000 American National Election Study, the typical person got 48% of the factual questions right; you would expect 28% by guessing. These results are consistent with a vast academic literature on Americans’ (lack of) political knowledge.
[…]
Barely half of American adults know the Earth goes around the sun. Only 32% know atoms are bigger than electrons. Just 14% know that antibiotics don’t kill viruses. Knowledge of evolution barely exceeds zero. Knowledge of the Big Bang is actually less than zero; respondents would have done better flipping a coin. Guess-corrected, the average respondent knows 4.6 answers. If adults learned everything they know about these twelve juvenile questions in high school science, they learned 1.4 answers per year.
[…]
Schools make virtually no one fluent in a foreign language. Only .7% claim to have learned a foreign language “very well” in school; another 1.7% claim to have learned a foreign language “well” in school. Since these are self-reports, true linguistic competence must be even worse. The hard truth: if you didn’t acquire fluency in the home, you almost certainly don’t have it.
[…]
If you fail Spanish, you don’t finish high school, you can’t go to college, and the labor market punishes you—even though most B.A.s are equally monolingual.




