Your article is excellent, and it really has been pleasant to have read it, however, a part of it I have not understood it at all (maybe it has to do with what is a bit more difficult for me because I do not speak English and use an automatic translator) .
Another fundamental economic occurrence is the law of diminishing returns; and to me it's obvious how the value of degrees have become subject to this as more funds and more students are continually loaded in. It's a classic case-study of this law in action, yet it seems to go totally beyond daily observations. Economics does not just apply to the factors of production but also to the common dealings present in culture.
Could you do this a little simpler for me? please explain me as if I were 10 years old.
By the way, I'd like to make a suggestion. Using HTML you can format your Steemit posts much more efficiently. Using the tag "div class =" text-justify "you could justify the text, and using the tag" a href = "you could replace the links inside HTML blocks (within which Markdown is not recognized, although within Markdown it is recognized HTML) I could clarify the procedure a bit more if you need help, thanks in advance.
Hey thanks for reading.
I'll try.
"The law of diminishing returns" is simply a rule in economics that states the more you keeping putting into something, the less value something becomes as it becomes overly done. In my example I was talking about college degrees; there has been so much money put into education and more students going to college than any other time that value of a degree has decreased. You can apply this principle in many other areas if you can notice them.
From what I'm understanding has a lot to do with the existing level of competence / offer of something. Is that correct?
Yes, the existing level of competence for a degree has decreased.
Ok. I would like to tell you that I have already done the translation of this article for the alternative medium that I mentioned:
https://tequenodigital.com/2018/01/21/sobre-el-sistema-educativo-de-castas-superfluousman/
Nice, I can read Spanish and it looks pretty good! thanks