Should the U.S. Say "FU!" To Universities?

Economist Richard Vedder, who has written a book (Going Broke by Degree) about the American university system, thinks so:

The more evidence that I see that I believe is creditable and meaningful, the more I am convinced of the following:

* Too many students, not too few, are going to college;

* College and universities are extremely inefficient, and at the marginal public spending on them more likely lowers rather than raises economic growth;

* The federal financial aid programs have contributed to raising higher education costs, lowering efficiency, and increasing corruption within higher education --and done precious little good, sending few more kids to college than would have gone anyway (which, given the first point, is not all bad);

…….

*People need knowledge and skills more than ever, but alternative forms of providing those skills, such as vocational schools and on-the-job training are often superior and lower cost options.

*A greater percentage of entering college students should be attending community colleges, moving up to four year universities only if they succeed well at the community college level.