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I’d certainly not say it’s everything, look at all the highly-paid mediocre CEOs. Education has rigorously been shown to lead to higher incomes and wealth on average.
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Education is not knowledge either. Today market most directly pays for skilled work that increases revenue/profit. Correlation drops after that. It's a struggle I've been trying to reason for myself too.
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True, but high-quality education, whether personal or formally, tends to produce high-quality knowledge.

Yes, companies pay for what’s perceived to create revenue and profit (and yes, skills are a major factor in that).

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