And, really is there a reason to think that much differently about investments in physical capital?
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College is the new high school, almost ...
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Back when there was Know-Before-You-Owe data from the Ed Department, you saw wide variations in income and debt depending on which college someone attended. Harvard=higher income, lower undergrad debt. Liberty Univerity=lower income, higher debt.
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I think it’s useful to think of in terms of defaults. We have a norm in our country that everyone goes to high school unless they choose to drop out. Going to college is seen as a preference or, at least, beneficial for just a subset, and not a universal norm.
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High school graduation rates in 1930 are roughly the same as college grad rates now. The world changes and college is no longer a “preference”pic.twitter.com/xEwybOnsN2
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We should think of all of them in terms of ROI. There seem to be greatly diminishing returns in college edu. Actually there seem to be diminishing returns in high school too. I hope school budgets are down year over year across the board. If not, we should re-evaluate...pic.twitter.com/YYBxUIzGfN
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My opinion is that high school provides a public good; A broadly educated population. College and business school are specialities and make deeply educated individuals in their area of expertise and should cost money because they are more valuable.
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Similar to the cost to take the CPA exam, or bar exam, or any other specialty certification. It’s valuable and thus should cost money? If the arguement is college should be free are these items free too?
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think how many people you could educate without a $1B wall.
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