Additionally, I am reading a back and forth between Bryan and Noah Smith[1]. The main thing that stands out, is that after putting forth such a quantitative focused text on the topic, Bryan seems to resort to an idealogical back and forth with Noah. If you are going to put all this effort into building an excel model that makes your case, why are you not using that as your first line of defense?
Quite frankly, I don't think either Noah or Bryan really make convincing arguments. But that is because the debate between "human capital" and "signaling" is such a squishy topic, and no amount of data analysis or philosophical reasoning is really going to change the debate any time soon.
[1] http://noahpinionblog.blogspot.com/2017/12/sheepskin-effects...
I’m predisposed to saying education is insanely beneficial though. I want everyone to have all of it for free.