Common theme: private company or individual profits immensely at the expense of others because of government regulation, crowd blames ‘capitalism’
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Yup, America is more crony capitalism than actual capitalism
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Went deep on for-profit diploma mills several years ago. It is an absolutely horrifying waste of taxpayer funds and a destroyer of many lives. $80k+ in debt and getting same jobs they did before the degree.https://www.newyorker.com/magazine/2015/11/02/the-rise-and-fall-of-for-profit-schools …
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Now do the home mortgage market
(to some extent I kid, but we love those middle class subsidies)Thanks. Twitter will use this to make your timeline better. UndoUndo
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Actual Capitalism would be you paying for your own education and degree programs in demand would cost more and useless hobby majors like basket weaving and pottery and trumpet performance would disappear
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Yes! It’s the opposite of capitalism. It’s the state subsidizing the means of production. And anything subsidized costs more, hence unchecked tuition increases backed up by a willing government writing blank checks with no restrictions.
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Colleges admit students that require remedial math & English classes. Talk about setting up students for failure. Some drop out and are forced into loan repayment. Colleges should defer enrollment of these students until they take and pass remedial classes.
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Part of it is also that students don't seem to be worried a out debt. They signed up do Trillion$. Govt underwriting facilitated the loaning but the decision to borrow is on the students. That's not a failure of capitalism.
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This. I also think there's a big cultural stigma change that needs to happen. You don't need to go directly to a state school out of HS, esp. out of state. Trade degrees are still valuable. Apprenticeships should be higher value. The list goes on.
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Capitalism would never create the student loan crises. This is specifically because of the government interfering with capitalism. In capitalism, if those loans don't get repaid the bank that made the loan goes under. Those loans would never happen in the first place.
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Under capitalism, banks would only issue loans to people who had a high chance of repaying. For students, that means degrees that could be easily monetized for high value. Not gender studies and art history and medieval music.
End of conversation
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