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Megan McArdle says job retraining programs are usually a bad idea:
Students are overoptimistic. Schools encourage them in their folly while collecting checks. And employers demand real-world experience that training can't give. It works best on people near entry-level, and those with complementary skills. But that rarely describes the people most in need of retraining, like displaced autoworkers who have spent decades at semi-skilled labor no longer in demand.Read about her own experiences here.
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