[danielweber]

That's better, but what you will end up with is colleges pricing their "good" degrees higher and higher until they have captured almost all of the wage surplus that workers get from going to college.

[dnautics]

Then people will stop getting that degree, and the competitive salary for that degree will get higher.

[danielweber]

If the NPV of the wage premium of becoming a botanist is $400K, colleges will charge $360K.

What, don't you want to become a botanist???