So, if this guy is to be believed, a liberal arts degree is actually quite valuable, indeed. My own experience lends credence to this. I got a BA in anthropology and have become quite successful professionally. However, I have a different hypothesis for why this may be so:

Liberal arts majors, perhaps alone in all the different collegiate fields, spend the majority of their study time on mind-numbing courses with little or no obvious application to any real professional field. It turns out that, in the real world, this allows one to be productive during a typical office meeting, a quite rare and valuable skill. Equally important is the ability to learn and genuinely understand nearly opaque concepts from poorly written textbooks and/or incomprehensible instructors. This translates well into more practical, albeit unrelated, fields once the degree is achieved.

In a nutshell, you become cheap to teach. Someone who says "no, I don't know how to do that, but I can learn," and actually DO that, is in my experience quite rare, and therefore valued.

Or, it could just be that I'm an extremely lucky over-educated fry cook who happened to back his way into a lucrative career. You believe what you want, I'll believe what I want.