Those of us in education who keep seeing attempts to usurp our profession by elements of corporate America, private foundations, and media outlets should use Professor Whitman’s comments as a rallying cry.
This site is part of the CUNY Academic Commons, an academic social network for the entire 24-campus CUNY system. Unless otherwise stated, all content on the CUNY Academic Commons is licensed under a Creative Commons license. With globalization developed through capitalism, a new horizon has been seen in the world of trade and commerce.
Though the primary objective of education is to enlighten the individual’s minds, at the same time we cannot ignore the importance of education for getting a good job in this modern globalized world. Capitalists see education as yet another mere product for maximizing profit and Bangladesh (with a population of 160 million) is a high-prospect market for capitalists. A recent study (Bangladesh Institute of Development Studies: 2014) depicts that the unemployment rate is higher among the highly educated whereas this rate is very low among uneducated or half-educated people.
It is a clear indication that there is a huge mismatch in the demand-supply equilibrium of the labour market.
For higher education, the investment is very high and probably that is the reason why students who completed their higher education, demand a high salary.

This is a form of unemployment where, at a given wage, the quantity of labour supplied exceeds the quantity of labour demanded, because there is a fundamental mismatch between the number of people who want to work and the number of jobs that are available. Thus it is high time government and the people rethought the matter seriously, especially when approaching career planning. An international news agency dedicated to news about peace and nonviolence with offices in Athens, Barcelona, Berlin, Budapest, Buenos Aires, Hong Kong, Lima, London, Madrid, Milan, Munich, New York, Paris, Porto, Quito, Rome, Santiago, Sao Paulo and Vienna. Except where otherwise note, content on this site is licensed under a Creative Commons Attribution 4.0 International license.
Under capitalism, people are free to work at jobs of their own choice, to try to sell their products or services at whatever prices they wish, and to select from among various products and service-providers for the best value.
Following this system, sadly, commercialization of education has become widespread in Bangladesh [not only Bangladesh.
To them, students who have passed their higher secondary education – are the main consumers. Government should update policy regarding higher education to discover possible alternatives for improving the situation. But the problem arises when the capitalists started to turn everything (education, for example) into their product.

When these students complete their higher education (MBA, MSC, MSS or MA) with a handsome CGPA at a cost of huge amounts of money, they find themselves jobless because of excess supply in the labour market. This report also states that unemployment is lowest among the people who have vocational or technical education.
Most of the cases, the motorcar repairing shops in Dholai Khal, Bangla Motor or other places for instance are run by unskilled workers without any formal education who cannot diagnose the problem properly. The number of higher educated job seekers is large whereas the number of jobs available for them is very limited. Technical or vocational education systems should be encouraged to meet the demand for the coming years and real market demand given the changed situation and looking at the similar mass unemployment of advanced economies which has fermented into the Occupation Movement.

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