"It’s time that we as a nation accepted a basic — and seldom-mentioned — fact. You don’t need a degree (and certainly not an M.B.A.) to start a business and create jobs, nor is it even that helpful, compared with cheaper, faster alternatives.

If I were betting on the engines of future job creation, I wouldn’t put my money on college students cramming for tests and writing papers with properly formatted M.L.A.-style citations in order to bolster their résumés for careers in traditional professions and middle-management jobs in large corporate and government bureaucracies.

I’d put my money on the kids who are dropping out of college to start new businesses. If we want to get out of the jobs mess we’re in, we should hope that more will follow in their footsteps."

I think this article in the NY Times, entitled, "Will Dropout Save America?" by Michael Ellsberg (10/22/2011)  commits the fallacy of Hasty Generalization.  It is true that some dropouts have become incredible and successful pioneers (Jobs, Gates, Zuckerberg, ect.)  However, basing an argument on the fact that college degrees are no longer effective and that we should rely on the populous of dropouts to save our economy is a sweeping generalization only justified by the few geniuses (specific cases) that actually knew what they were doing upon dropping out.