In what respects is higher education qualifications (i.e., having versus not having a university degree) a positional good (i.e., generates positional externalities), and in what respects is it not? Why might some argue that insofar as it is a positional good, expanding access to higher education is socially wasteful?

If it is, would Frank support taxing rather than subsidizing university tuition? How else might we address the credential inflation treadmill generated by positional competition among job seekers?

Please only use the reference below for answer

.R. Frank (2004) "How not to buy happiness"DaedalusSpring2004 69-79