There are two kinds of knowledge: 1) Fundamental knowledge learned in school, like the physics, math, or chemistry 2) Current knowledge learned on the job or through personal research, like current 4G deployments or Win 8 capabilities.
Fundamental knowledge could be learned in School and a degree could indicate a good grounding in fundamental knowledge.
Current knowledge is learned real time and a no college degree can adequately reflect ones current knowledge.
My assumption is that an employer is better served by hiring for current knowledge. Because a good grounding in current knowledge presupposes a good grounding in fundamental knowledge. Whereas a good grounding in fundamental knowledge does not presuppose a good grounding in current knowledge.
Does this make sense or add to the discussion?