Not in my experience.
Academics are undoubtedly smarter than average when compared to the overall population. When compared to other successful individuals the difference declines substantially or disappears. There's no shortage of idiots walking around with PhDs these days.
In my parents' generation, I think a college education generally meant something. Today, so many people are getting degrees--often times encouraged and abetted by government-sponsored discrimination programs--that a college degree, even a PhD, has much less meaning than it used to have.
Myself included!
In my parents' generation, I think a college education generally meant something.
Rush once posted an eigth grade test from the 1890's or some such. Very few of today's college grad's, let alone high schoolers, could pass it.