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There is a law in economics, it deals with artificially propping up businesses, “goods” politicians deem necessary, production, etc. George Gilder notes this in a clip I isolated in an interview:
This applies to the real world in many ways, one being the co$t of college. Here is a very short video explaining this well:
OF course, one of my favorite videos of ALL TIME shows how students “benefit” from a subsidizing of college majors when in reality if they had to pay for college themselves it would be (a) cheaper, and (b) they would go into careers other than their majors… like sign flippers and bartenders (or other fields that are hurting):
(For full disclosure, my degree — theology — is one of the lowest paying degrees out there, and the lowest in employment opportunities.) In a short debate of the issue, Peter Schiff notes this “propping up” of useless degrees:
In the above discussion, Diana Carew seems to want jobs created by the government to fit the degrees earned. Otherwise, how would you force the private sector to create such opportunities unless you artificially demand [create] such opportunities? ~ There was zero unemployment in Soviet Russia, but all this “opportunity” collapsed due to economic laws… “this is how the USSR ended up with warehouses FULL of “widgets” (things made that it could not use or people did not want) no one needed in the real world. This economic law enforcers George Gilder’s contention that when government supports a venture from failing, no information is gained in knowing if the program actually works. Only the free-market can do this.” (Peter Schiff gets into the weeds a bit in this video.)
Here is another great PRAGER U video discussing the issue:
This is one of the areas Gary Johnson was correct — supply and demand:
FORBES notes well that most on the Left-end of the spectrum “don’t hate entrepreneurship and innovation,” but that their Econ 101 “part of the brain that deals with economics tends to shut down when discussing sectors like higher education (or healthcare).”
A WASHINGTON FREE BEACON post relates findings from a Federal Reserve Bank (NY) study showing that the federal student loans have increased the cost of college tuition while at the same time college enrollment did not increase:
Which brings me to finish this post with a humorous look at the hipster douche-bags scratching his or her head in regard to high tuition costs via REASON-TV:
In an article entitled, Why Is College Tuition Rising So Much? And What Can You Do?, that updates some of the numbers we are dealing with, I found this part sad (and I include myself in this paradox), because often times the young person takes as much money as they can get for the semester rather than get the bare minimum and subsidize the rest with income from work. (Editor’s note: this in part delays adulthood and why matters important to our body politic being expressed in an elementary way at the college level.) Here is the section:
Mary Bromley, the articles author, while making some good points didn’t include the idea that getting liberal arts degrees is not prepping the student for the shift towards technological needs for the future, nor did she deal with getting degrees that are actually useful in the real world environment. Mind you, that wasn’t the main idea or push of the article and may be a good “part deux,” but one of the main reasons tuition has risen IS BECAUSE the Federal Government is involved… practical ways to keep costs down that are in the article aside.
Likewise, automation (“robots”) will increasingly replace people in a “growing number of jobs, the skills employers are now looking for are technical skills.” But that doesn’t mean people will lose work over the issue, it means that society as a whole will need to change their focus to more technologically minded degrees. Frank Roberts in an earlier article continues:
So a change to practical degrees dealing with the change in society is a requirement. NOT TO MENTION the trades that support families well should be encouraged as well. (Like a master tool maker, a carpenter, or a plumber, etc., these are high paying jobs that society will always need — and jobs like these are more apprenticeship driven rather that degree driven.)
FORBES notes one study that challenges the status quo:
- …Beyond.com, found that a striking 64% of hiring managers said they would consider a candidate who hadn’t gone to a day of college. At the same time, fewer than 2% of hiring managers said they were actively recruiting liberal arts grads….
A person starting out in life should consider all of the above. Their choices made now will have lasting effects — speaking from experience.
What is the least diverse place in America? It’s the institution that most actively seeks racial, ethnic, gender, and cultural diversity: the college campus! Colleges want students to look different, but think the same. Charlie Kirk, founder of Turning Point USA, explains.