The Economics Of College ~ Parts I, II & III

[Terri]

By Thomas Sowell
April 22, 2008

A front-page headline in the New York Times captures much of the economic confusion of our time: "Fewer Options Open to Pay for Costs of College."

The whole article is about the increased costs of college, the difficulties parents have in paying those costs, and the difficulties that both students and parents have in trying to borrow the money needed when their current incomes will not cover college costs.

All that is fine for a purely "human interest" story. But making economic policies on the basis of human interest stories -- which is what politicians increasingly do, especially in election years -- has a big down side for those people who do not happen to be in the categories chosen to write human interest stories about.

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[Amawalk John]

Another gem.

[FlaJim]

The obscenely excessive cost of higher education today is a direct result of govrnment subsidies. Too many colleges are top heavy with blowhards and charlatans who are tenured and enjoy comfortable salaries for offering precious little effort.

Annual tuition fees in excess of $10,000 are unsupportable. If the government wishes to toninue its student loan and grant programs, they should be available only to those attending schools with reasonable fees. We'd see those plummet in short order.

[Engineer Scott]

And the parallels to what will happen with fully subsidized government run healthcare are all too obvious.

Scotty

[RiverKing]

Mental giants like Sowell around and we get the Obomanation. (Sorry, just couldn't resist that little play on words. Interestingly enough, ieSpell knew exactly what I meant.)

[Terri]

The Economics Of College: Part II

By Thomas Sowell
April 23, 2008

Those who argue that the taxpayers should be forced to subsidize people who go to colleges and universities seldom bother to think beyond the notion that education is a Good Thing.

Some education is not only a good thing but a great thing. But, like most good things, there are limits to how much of it is good -- and how good compared to other uses of the resources required.

In other words, education is not a Good Thing categorically in unlimited amounts, for people of all levels of ability, interest and willingness to work.

Nor is there any obvious way to set an arbitrary limit. These are questions that no given individual can answer for a whole society.

[Beeney]

Oh how so true what you are saying Mr. Sowell. As I said many weeks ago when Mrs. Obama opened her big mouth to complain about the fact that they had not paid off their student loans, I wonder why. My first thought was, my God, if they haven't paid off their student loans by now why in the world would I want him to be in the white house in charge of the American economy. Their combined income is certainly adequate to have accomplished this by now. It has to be about 20-25 years. Are you kidding me. Then it hit me. They feel that they have been disenfranchised and that their educations were owed them. They have the resentment that Mr. Sowell is talking about. If they didn't feel that way I don't think they would have ever admitted to the world that they were unable to pay their student loans off after making the money they have made over the years. I always say, a dog barks because that's what a dog does. A Marxist whines when they open their mouth because that's what Marxist's do.

[welder4]

This is so on point but what would the liberals have to whine about then, I am sure they would find another venue for capturing the poor souls and getting them to vote for them . That would have to be the ground work for capitalism, what one might call a barter system or the basics of capitalism . What a great way to think . it is a sure fire cure for our education ills . Now all we have to do is insure that people have a choice in where they go . I would choose a conservative college that lets you air you thoughts and desires with out losing a grade point because you did not go along with the liberal or right winged views. One that did not teach Al Gores harmful rantings about the weather.

[FlaJim]

But not as many jobs would be able to require college degrees if such degrees were no longer so readily available at someone else's expense.

Precisely. Peering through the want ads of any daily newspaper, job after job of relative insignificance demands educational standards that are for ridiculously high.

A BA is not required to supervise a small clerical staff, to manage a contruction work gang, or to oversee a truck fleet.

Bill Gates was a college dropout; the guy who founded Wendy's was a high school dropout.

Ponder that.

[ONTIME]

Thomas Sowell has but touched upon the ills of subsidized college and I am sure there are many who will speak up on this subject to point out other lacking qualities of todays colleges.

Here is my gripe, the elitism that is promoted by the academics, these people seem to think that because knowledge is promoted as power, it also includes common sense and leadership potential, many of the academics in administrative positions recently share a major fault of leadership qualities, cowardice. It seems that many a coward hide behind their academic compost pile and spout eupheisms, jingoist phrases and think communism still hasn't been done correctly. In the meantime many are sacrificing their lives and time to let those with the loud mouths stay safe, warm and full of themselves.

I believe we could do a lot better at what comes from college in general, I believe those who allow the academics to mislead, lie and simply chip away at freedoms, history and civil ways are putting an onus on the ability to achieve, instilling perpetual doubt on the quality of future leaders and those who look to making this country great. The influence these college academics bring to bear has everything to do with what our future will become and how long we as a nation will be looked at as the place where the light of truth shines and personal achievment is still more than a dream.

Mr. Sowell has given many a reason to question subsidizing if the results and the quality are constantly flawed.