We were lied to

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In Australia it isn't so bad. I'm doing a chemistry and maths majors and there's a shortage of mathematicians in Australia. Also they have a shortage of maths and science teachers. Also our university funding system is partially supported by the government and we have welfare for those who can't find work. The worst that can happen is that I go on the dole for the rest of my life and never earn enough to pay back my part of the government subsidized degree+diploma. It would suck though .

I have to agree here......what is one supposed to do without a job, just die? I mean I realise there are some other options out there but really not entitled to the means to make a living? that is rather screwed up.

I'll have to remember that I can always try moving to Australia. It's important to keep options open and be resourceful in tough times.

Well it depends how much money you put in. I've started quite a few things which failed, but each time, I used my own money which I'd saved, so I was careful. I don't care about losing this money because I learnt something and got an experience out of it all, and at least I tried, eh?

Back to the actual topic of the thread, I believe this is relevant:

A little clarification here: "not entitled to a job" just means that nobody is legally obliged to give you a job against their wishes.

According the US Bureau of Labor Statistics, only 44% of businesses survive the first 4 years in business.

Policymakers increasingly view self-employment in the form of youth entrepreneurship as a possible solution to the youth unemployment crisis. However, many experts believe only 20% of all people are fit to run their own businesses, so it shouldn't be relied on as an "easy fix".

You must consider the context in which people have been using this phrase recently.

Wow, 44%? I thought it was a lot less than that. Very good news.

Anyway, you're missing the point entirely. If even 20% of people start business, that 20% will provide a lot of jobs. Each business needs accountants, secretaries, IT people, marketing people, and so on. Those businesses create the employment. So it does not really matter if most people don't start businesses, because those who do will employ the rest.

I honestly believe everyone who is able to work is "fit to run a business", it takes no real special skill if I'm honest. I'm not especially talented but I've made a bit of money from business ventures. But the fact most people will make up excuses as to why this isn't so is probably the reason the minority own the majority of the wealth TBH.

I kind of agree. It takes no special skill, but it does take a certain type of person.

what if you lack the skills nessisary to run a buisness? I realise there are ways to make money to start a buisiness with........but if you don't have the skills to manage it or keep it running where does that leave you? I don't think all those skills can be learned by me.

To the OP:

Obtaining that college degree is not a scam. There is an economic theory that is currently holding back people who have obtained college degrees from getting jobs above 'burger-flipper' class on top of the fact that no one gets job experience while in high school anymore.

Signaling theory states that we obtain college degrees, certificates, and awards to signal to a potential employer or customer that "We are worth it" and "We know what we are doing." The problem that comes up with signaling theory is that, the more people can do it, the less the signal is valued and the harder it is for someone to find work/customers as more people have the skills you have.

From the 1990's to 2009, there was a 10% jump in the number of people who have Bachelor-level degrees. About a 20% jump in people who have Associate Degrees. (USDoE)

There are THAT many more people who similar qualification in the job market now. To top it off, capital is still somewhat frozen from the recession, the people with Associate Degrees are often more work qualified for entry level career positions (as for many entry level positions, you can be considered overqualified with a Bachelors degree), and the population of many nations (unless you're in europe) is growing rapidly.

Human Capital Theory states that going to school is good, regardless of signaling as you are investing in yourself. According to it, you'll find work through effort and promoting your skills, though it may take time.

Does the fact that you're not getting a job with your degree mean you should not get a degree? No. People with degrees still make a significantly larger salary in the 26-36 age range than their no-post-secondary-education peers.

Hope this helps.

I think the most crucial skills required are common sense and the ability to talk to people. Other than that, the main difference between who own their own business and people who don't is that they dare to. That's not a technical skill per say, more a character trait.

Money management really isn't hard; little kids who run lemonade stands and yard sales can do it. It gets trickier the larger the business gets, but by the time the business becomes big enough for financial management to be an issue, you're well off enough to hire somebody good at it.

I think it requires a bit more then simply being able to talk to people and common sense I have both of those but I still don't see myself running a buisiness or anything else....Also maybe money management is not hard for you but I really suck at math so its hard enough just keeping track of my own money let alone trying to make sure everythings going alright financially with a buisiness. But thats ok because I don't really feel like joining corporate america anyways.

Very good point, I agree fully. And as for money management, even when you're small you can hire a freelance accountant for not so much money. I looked into that whenever I was doing sole trader businesses.

Hmm bad money management is not really a mathematical problem. Bad personal money management has more to do with mental accounting (e.g. underestimating the sum total of the several dozen small ticket costs everyday, like a morning coffee etc.) or greed, impulse buys, addictive and unnecessary purchases etc. Besides, there's always the calculator.

One of the good things about doing your own business is that you get to call your own shots. That's the best way to not get sucked into the rat race. Risky, but still the best.