Student debt is bursting the university bubble

Arguably the biggest investment many of us make is in ourselves, when we learn skills to improve our "human capital", which we then use to earn a living. This is one of the main ways in which people invest in their future.

In the last few years many people have gone to university to obtain a degree of somewhat dubious value in the belief that any old degree guarantees them a high-paying job, as it did two decades ago. This was only the case then because there was a shortage of graduates; nowadays there's a big surplus so we're in a buyers' market.