Answer: The drastic increase in the average education level goes beyond the demand for the current economy (1910).
After college degrees, most of the students search for jobs but if the percentage of Americans with college degrees has risen drastically country cannot afford jobs for such a high number.
Also, college degrees have nothing to do with the skills required for the job.
so it will increase unemployment.
And it will cause erosion of skills, basically robbing the economy of otherwise brilliant talents.