Richard Vedder, author of Restoring The Promise: Higher Education in America, joins Erik to discuss:

- The origins of the myth that higher education is the key to career success.

- The unintended consequences of student loans, including the fact that colleges raised tuition dramatically in response to the increase in borrowing.

- The key pieces of government regulation that impacted higher education and why the GI Bill led to an explosion in the number of universities.

- Where he agrees and disagrees with Bryan Caplan and Peter Thiel.

- The history and evolution of colleges in the US.

- The fact that the earnings gap between college and non-college educated workers is not due to what a student has learned but rather that they have demonstrated the determination to get in to college in the first place.

- Why colleges have been so resilient.

- What he would do if he was starting a new university from scratch today.

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