I know this is fake magic money but legit if you cancelled student debt people like me would fuel a ridiculous spending spree and boom in entrepreneurship possibly innovation.https://twitter.com/ryangrim/status/1034225081994620929 …
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So many young people are locked into “safe” jobs only to service their debt. They’re giving up more fulfilling, but also likely more socially beneficial career tracks because of student debt. They’re also foregoing houses because they’re afraid of more debt.
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My debt isn’t even “bad”, and I did a pretty exhaustive CBA before law school (not as much college) so I knew what I was getting into. But I can easily identify with the fear others talk about—it’s a huge disincentive to social growth that’s under appreciated I think.
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I understand pragmatically the obstacles are probably insurmountable, and I’m emphatically not saying it’s a good idea, but I’m also skeptical models could capture the effect of removing that disincentive beyond its effect on housing, which I assume is pretty easy to project.
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Also, I’m not familiar with the statistics, but I’ve seen something about traditionalists freaking out about kids and marriage. I’d be shocked if this wasn’t a fundamental variable. The only people I know getting married (or having kids, buying homes) have sig. parent subsidies.
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All money (in a fiat, post-gold system) is magic. This can be done.
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