Looking back at history, university degree has been an asset, obtained by the gifted few. However, as the economy has advanced, societal norms has changed to adapt it. Now, people obtaining an university degree is more of a norm.

The demand for highly educated workers has not kept up with the supply – as the report states – however, this is not a big issue to the extent that it is stated in the article.

This issue is highly relatable to me, and should be to every member of the Sauder community, as people striving to earn a degree in one of the top universities in the world.

Firstly, by completing a diploma and obtaining a university degree, it provides opportunities to people. A university diploma enriches people with various skills and knowledge which help them succeed in the real world – whether the occupation require a degree or not.

Secondly, by having a wider pool of people attempting to obtain a degree, it helps them filter the talent pool, and gives further opportunities to the people truly talented. In the old societal structure, people who have been talented may not be able to succeed due to the lack of opportunities given to them. Although this issue is still prevalent in the current model, it has been reduced substantially.

Lastly, because there is demand for education, the educational infrastructure has developed so significantly. Without such high levels of demand, the education structure has not developed to the extent it is today.

Generally, in a business and economic standpoint, a disparity between the supply and demand is considered a negative thing – however it is not necessarily the case. Naturally, there is both a positive side and a negative side, however this can be said true to everything. The structure has adapted to fulfill the needs and wants today. Although the report may suggest otherwise, I believe that having a higher supply of educated individuals are a positive effect to the society.

Article

http://www.cbc.ca/news/business/pbo-jobs-1.3317890