This is something by people in educational economics. While I think the author has a great point that we're looking to get workers who can get the job done, that isn't necessarily how businesses hire. The benefits from education don't just come in the form of increased human capital. Basically, you get bonus points for having the degree regardless of what it means to your human capital (there's a term for it that I can't come up with right now).
I believe it's called signaling.