Academic inflation

TEDtalks - Sir Ken Robinson

Through different channels... I ended up to watch this video/speech...
In this Mr Robinson mentioned the phrase: academic inflation.

I tried to google around, but all I found was about money and investment in education. Though, what Mr Robinson meant, was more about all academic knowledge and, therefore, that is represented by - degree, diploma - looses its value by the time.
It was funny to hear when he said: young people with degrees just go home and continue playing video games... /Just like my brother.../
The other thing that was interesting was that the whole educational system is built in a way to serve the goal of educating people to become university professors.

The other interesting question is about memory... what is it? where is it?
How, when, where all our memories are stored?