As this Phi Beta Cons post observes, college is free in Greece and a huge percentage of the young people go. Far from being an “investment” in human capital, as subsidies for people to go to college are usually justified, it’s evident that for many young people college is a great waste of resources (their time and other people’s money) that does scant good. It probably does a great deal of harm by conditioning young people to expect things in life that are “free.” That mindset is central to the meltdown of Greece.