The total list of incomes is $1, $2, $3, ... $10. Now assume the richest 4 Trianglestanis have bachelor's degrees, rest don't.
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Avg. income w/college degree: $8.50. Avg. without: $3.50. Now suppose a new program pushes 2 more, the guys making $5 & $6, to get degrees.
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Assume nobody's income actually changes. Then... avg. income w/degree: $7.50. avg. income without: $2.50. Both groups "lose" income!
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NOTHING ACTUALLY CHANGED, but the NYT, Vox, et fucking c. have a field day trumpeting the economic horror.
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@St_Rev something has changed just not the incomes -
@soapjackal Some labels got moved around. You can "solve" a Rubik's cube like that, but. -
@St_Rev Educational Institutions Value is related to Expected Utility one would receive from attending -
@soapjackal Note that in this toy example, nobody's income changed. No economic effect at all, just a category boundary got moved. - 1 more reply
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.