Why College Degrees Are Losing Their Value大学学位为何贬值？

The signaling function of college degrees may have beendistorted by the phenomenon known as credential inflation. 所谓的“证书通胀”现象或已扭曲大学学位的“信号功能”。

The concept of inflation applies to other goods besides money. Inflation is related to the Law of Supply and Demand. As the supply of a commodity increases， the value decreases. Conversely， as the commodity becomes more scarce， its value increases. This same concept is also applicable to tangible items such as vintage baseball cards and rare art. These are rare commodities that cannot be authentically replicated and therefore command1 a high value on the market. On the other hand， mass-produced rookie cards2 and replications of Monet’s work are plentiful. As a result， they yield little value on the market.

通货膨胀的概念也适用于货币之外的其他商品。（剩余6257字）