What is the point of arts degrees?

Question:Seems to me they accept poor students, don't teach them anything then churn out semi-literates with no useful job skills.

Answers:
When you get your Mcjob you'll be able to feel superior to the other workers who don't have degrees.
But they can write better blurb on their unemployment claims!
It shows they are capable of completing task assigned and they are not quiters. Compared to a HS drop out. Plus they are creative creatures that think outside the box.
You seem to be another person who thinks that "art" is just about doodling or drawing pretty pictures. Art degrees don't cover just painting or drawing, but also design, fashion, animation, television, film, and in some cases even web design. I'm willing to bet that quite a bit of what is taught in these degrees would be way above your head.
Depends on the university - Royal College of Arts produces some excellent artists.

Only 10% of art students remain as artists, the rest of them either the teach the subject or move onto another career altogether.

Art students are in demand - the creative industry mostly (marketing, product design)- but thanks to the availability of computers and digital technology the landscape of modern business is changing very rapidly as more and more Western companies are outsourcing their creative projects to firms based in places like India or China, where the rates are much lower. I personally always employ somebody from abroad.

Job skills - close attention to detail, team work (sometimes). An art degree is far more useful than getting a history or geography degree.
Do you mean Art degrees or degrees in Arts subjects leading to Batchelor of Arts degrees. I presume to get a BA in English or French it would be helpful if the undergraduates were at least semi literate otherwise they would find it somewhat difficult writing dissertations.I wonder if you have much experience in this area as your comments are so derrogatory.

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