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> but the narrative and assumption is that under-representation in university is problematic, worrisome, an issue

Sure, but even if the mechanisms you suggest are assumed away (they aren't) are part of the mechanism of underrepresentation, it would still be all those things. In fact, I would see increasing racial divergence in either the perceived value of college or the rate of application independent of the perceived value of college and extremely worrying signs.

But, really, before people accept the value of explaining the trend toward increasing black/hispanic underrepresentation, they need to understand that the exists; in case you haven't noticed, there is a very powerful (if entirely non-factual) narrative exact opposite is the case, driven by an increasingly powerful political faction, including the leadership of the executive branch of the US government.



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