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Economists who have studied the relationship between education and economic growth confirm what common sense suggests: The number of college degrees is not nearly as important as how well students develop cognitive skills, such as critical thinking and problem-solving ability.
Derek Bok
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More from Derek Bok

I think any self-respecting educational institution ought to judge its policies by its best estimate of what their long-term consequences for their students and for the society will be.
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Doctoral training is devoted almost entirely to learning to do research, even though most Ph.Ds who enter academic life spend far more time teaching than they do conducting experiments or writing books.
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If you think education is expensive, try ignorance.
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Colleges and universities, for all the benefits they bring, accomplish far less for their students than they should. Many students graduate without being able to write well enough to satisfy their employers... reason clearly or perform competently in analyzing complex, non-technical problems.
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