people shit on this because they're boring but to the extent colleges are about career prep this seems likely to correctly align incentives in the face of information asymmetryhttps://twitter.com/MarkAmesExiled/status/1020350417350389762 …
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if this were the norm colleges would be incentivized to admit students likely to generate future income streams from productive labor and also to increase their human capital while on campus, and to help place after graduation but hurr Durr mood affiliation
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One side effect would be dramatic reductions in bullshit programs costing students hundreds of thousands of dollars most likely to place those students into a decade of unemployment, alongside expansion of programs that tend to inculcate useful skills
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A second side effect would be meritocratic, market-tested admissions processes Schools would actually have incentive to compete for objectively-promising students, with scholarships taking the form of lower earnings collection If you think admissions is biased, this solves that
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Replying to @eigenrobot
I wonder how hard East Coast cathedral institutions could game this. Just select at 18 instead of 22, based on a self-fulfilling prediction of monetary success after graduation from their feeder program into whatever elite microculture.
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My guess is that they'd game it hard, and demand a higher fraction of earnings full stop, probably especially from legacies. Legit capable students might end up falling back to state schools, long term maybe Ivy cred falls?
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