The depressed labor market for humanities graduates is discussed. Although attempts have been made to develop new areas of demand for Ph.D.'s, particularly, in the corporate sector, graduate study in the liberal arts is not seen as a logical way to prepare for a career in business. (MLW)

The Clinton administration's proposed national service program for college students receiving federal financial aid is examined from a labor-market perspective. It is proposed that national service and higher education be linked more formally than in the current proposal, avoiding considerable bureaucracy and potentially improving program quality.…

Data from two surveys of college graduates is utilized to address the issue of the value of postsecondary education in the labor market. Considering income, relation of job to college major, and job satisfaction, it is concluded that underemployment and job dissatisfaction are less pervasive than was previously believed. (Author/MLW)

Market forces suggest that this should be a period of extensive innovation in graduate education, but the importance of relative prestige to universities mutes incentives to innovate. Some predictions about the prospects for innovation in colleges and universities are provided. (Author/MLW)