If prices are falling then we\’ve a sign that there\’s over-production relative to demand.
The pay premium earned by postgraduates and those who take masters degrees is in decline as the market becomes flooded, research suggests today.
The study, commissioned by the British Library and the Higher Education Policy Institute (Hepi), found that the benefit of taking another qualification after graduating was decreasing.
Graduates taking a postgraduate course in 2003 earned, on average, 18 per cent more than peers who had obtained a first class degree and 31 per cent more than those who achieved a 2:1.
But by 2008 this had fallen to 15 per cent and 27 per cent respectively.
As prices are falling then we\’ve over-production relative to demand.
Thus we\’ve got too much higher education and should have less of it.