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My first thought when I read the title was, "universities." I was surprised to see nothing about it. I would tend to think the approval rate has gone up due to the increase in attendance. Which is sort of counter intuitive to the self-education movement which seems to be previlant on hacker news.
I don't think that most people here would want to replace their college education with self-learning because the latter is inherently harder. I agree that one can learn nearly everything on his/her own but that takes a lot of willpower and motivation which would result in higher dropout rates.

I am , in fact, going to graduate in a few months and cannot think of a better place I could have spent the last 4 and a half years. I could have spent it in a better way: read more, do more, try more and procrastinate less, but there is no way I could have learnt as much as I have (educational things as well as life lessons) so easily.

I would think interacting with an institution would tend to decrease trust in it.
If only 22% really trusted America's financial system, Ron Paul would have no problem getting elected.