Two professors look at the mystique around universities and the consequences of “credentialism.” For decades, we have promoted the idea that a university degree is a passport to future career success. Ken Coates and Bill Morrison argue that the over-promotion of higher education and university degrees is actually undermining the lives of young people, saddling them with enormous debts, and costing governments huge amounts of money. As the young flock to universities in ever-increasing numbers, fewer of them than ever find the elusive “good jobs” that they are pursuing. In fact, many of those jobs no longer exist. We are in the midst of a youth employment crisis that is global in proportion, and we are facing serious misunderstandings about the unfolding career prospects for young adults entering a world of rapid technological change. Ken Coates and Bill Morrison explore the impacts of universities turning out graduates with the wrong skills, and the consequences of vanishing job opportunities.