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That's what I mean, though. There's basically no evidence of valuable learning. Continuous measures of education exposure are consistently insignificant.
Everything seems to be quality signaling and selection bias.
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Still, it might be worth paying to "find out which type you are"
And it might be that better teachers produce a higher quality signal
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Both valid points.
If you ask almost any teacher what they think their job is, or any normal person what teachers do, you will not get "separating the wheat from the chaff" as the response. That's what I mean by them being bad at their jobs.
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I should answer that way from now on.
"What do you do for a living?"
"I separate the wheat from the chaff"
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I thought returns to education findings are pretty robust? It's more that there's a debate about whether it's a signaling story or whether it's actual human capital accumulation?