The problem with the total-capped ISA model is that it *is* necessarily effective at aligning private corporate + individual interests while shifting risk/predictive burden to the more resourced entity. It's unavoidably prosocial capitalism in the flesh — an impermissible heresy.https://twitter.com/ESYudkowsky/status/1120689529558429696 …
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As long as even low-to-moderate risk, high-reward activities are *only* financeable through debt, it's not naive or stupid to take it. Nor is it necessarily exploitative — though education financing is, increasingly so, to the benefit of nearly every actor aside from the student.
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Expect to keep seeing this: an industry entrenches itself via regulatory capture; protected from the elements, it produces less value at higher cost; the government that enabled this panders for votes on promises to destroy it; a nimble new actor presents itself, threatening both
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End of conversation
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As I see it, a key advantage of ISAs is that the school actually has skin in the game of student success, a strong mechanism aligning school and student objectives.
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