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.