Why Are So Many College Graduates Driving Taxis?

In his Bloomberg column, CFR Adjunct Senior Fellow Peter Orszag discusses recent research that finds that though an unprecedented number of American college graduates are employed in jobs that don’t require a college degree, the wage premium enjoyed by college degree-holders persists. Orszag states that if some of the researcher's conclusions are correct--that the movement of these high-skilled workers into lower-skilled jobs is bringing down wages for manual workers even more--the value of a college degree could at least be found in avoiding this wage depression.