Around three-quarters of those aged 4-6 and 98% of those aged 7-15 are in full-time schooling, while the number of black university students has nearly quadrupled over the past 15 years.

ECONOMIST: South Africa's education system

Imagine that the graduate school in question is constitutionally forbidden from receiving any form of government aid, that it typically requires three years of full-time schooling for the diploma, that the nature of the schooling bears almost no resemblance to the job in question, and that the pay for graduates is far lower than other professions.

FORBES: The Seminary Bubble