Some remaining thoughts from readers on the question:
This summer I accompanied my mother to her 65th college reunion. Part of the weekend’s program was a video about the Cornell University Class of 1950, the first class that came in with a large supply of veterans on the G.I. Bill. The film had some inspiring cameos about veterans who would never have gotten to college otherwise and the lives they made for themselves as a result. I wonder if our preoccupation with credentialism and the faith in the bachelor’s degree as a gateway to success and wealth is a legacy of that postwar crop of veterans.
I have observed the 20-year trend toward arbitrarily requiring college degrees for jobs that do not truly need them. I believe this goes hand-in-hand with the growth of Human Resources as a profession.