This is really old news -- see the 1961 (!) short story by Hal Draper: MS Fnd in a Lbry

Fortunately (or not), the problem is only with information. Knowledge and wisdom do not seem to increase at the same exponential rate. Or at all ....

You haven't been keeping up with contemporary trends in 'higher' education. Certainly, a BS should only take four years, but the proportion of students able to accomplish that feat has been dropping for years -- doubtless because way too many people are going to college these days.

That's another issue, of course: in this election, both Obama and McCain favor higher-ed handouts. Really, though, most kids need vocational training (auto mechanics, BASIC programmers, dental hygienists, accountants, &c). They don't need (or want) to be exposed to 'the best that has been thought or said'.