One of my anxieties is the job advert that specifies you must have a degree. It sometimes doesn’t even matter what it is in as long as it is vaguely related to the job. For example, if you were doing something to do with engineering then acceptable degrees would be maths, physics, computer science, mechanical engineering and maybe even chemistry. One example that really pi$$es me off no end is a son of a friend of my parents who is “In computers” (not physically sitting inside the box mind you) and he has a degree in French! OK that’s a pi$$ser in itself, as I hated French lessons more than even art classes. What is the real sting is that “Oh, and he earns £100 000 a year”. Anyway, this absurdity is going to come to an abrupt end, (an error has occurred and the system is rebooting). Check this out.
Expect greater competition and cheaper professional services as a result. This is also what Hayek was very much against as well. Degrees and professional qualifications are licences, and they are a very damaging form of protectionism. That’s why an IP lawyer charges £300/hour. We all pay for this, not just the ones who pay directly, since the prodcuts they produce cost more as well.