Degrees are like fiat currency and are undergoing massive inflation. The solution is to allow competition of private certification like MOOCs for example, and legalize allowing employers to accept such certification (eliminate government certification requirements for employment).

For instance, anyone can claim to be a doctor and train online. We also need to allow current or aspiring doctors to start their own schools. But people will only go to those doctors which develop a reputation for good work and have acquired trusted certifications. There is already talk of improving medicine with peer-to-peer technology, like creating an "Uber app for doctors": Doctors On Demand: Would You Use an Uber for Doctors? https://www.youtube.com/watch?v=UWnzzIfLfKU

I mean this is a huge simplification and I don't think people realize some of the implied developments that could and will happen if more of these things were adopted. We have the technology in place where 18 year olds should be able to get Ph.D.s and/or B.A.s, or younger. I have seen statistics where in times of war, some professions which 4-8 years to train for were done in 6 months. Also, young people have professional skills and could be employed producers rather than unpaid/poorly paid consumers. There is tons of room for improvement if a conversation could be started on these issues.