I will check it out. I do disagree that that credentialism is always a function of capitalism. Market roles being filled also include professors, authors and artists.
I don't even believe it has to do with status. Just that the education system was build off the foundation of a factory and industrial based economy. The more skills you learned in a physical field, the more money you made, the higher the rank you had in that industry.
We now have industries based off rejecting this model entirely. I love Nock's views being so far ahead of his peers.