RICHOCHET: Econ 101 For Colleges
Career College Central Summary:
A commonly-held leftist meme is that conservatives hate education. The technical word for this is “nonsense”: conservatives value education just as highly as liberals, and it bears repeating that the majority of college graduates vote Republican. Conservatives do, however, have strong criticisms of academia, which is a related but distinct matter from higher-education itself.
Of late, a new criticism has grown regarding the rise of the government-educational complex, specifically regarding the positive feedback* loop between tuition prices and easy student credit. The more money the government offers at below-market rates, the more colleges raise the fees, prompting even more generous loans, and setting up another cycle of the same.
When you further consider that the availability of the loans is completely divorced from consideration of the degrees’ potential value and that their value is almost uniquely protected from normal market pressures, you realize that we’re not dealing with a market failure, so much as a conscious and successful effort to prohibit the existence of one.
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