The number of good jobs is not a function of the number of college grads. If there are fewer college grads, employers will have to broaden the search. Let high school graduates apply to entry level positions that aren't manual labor.
> Why do you think college is a requirement now to begin with? Is it some sort of conspiracy? What I'm describing has already occurred. Sorry, but you're living in a fantasy - the vast majority of people who go to college couldn't care less about working in academia nor would there be room for all of them to be academics to begin with.
I'm saying that people who are going to college to get a degree so they can get an entry level job should not be in college. They should just be able to apply to those jobs out of high school.
The people left over, the people who actually want to go to college for the sake of knowledge, will be academically talented (or at least interested).