Wrong Diagnosis
Friday 27 April 2012 - Filed under Uncategorized
The New York Times on student loans:
For the past three decades, increases in college tuition have outpaced the overall rate of inflation, and increases in room and board have risen even faster. That has driven a substantial increase in the volume of student-loan debt.
Wrong. Tons and tons of free and very cheap money provided en masse to young students in order to get that college degree have caused the costs of college to rise dramatically. Whenever you introduce floods of cash in to any sector, the cost of the products of that sector will necessarily rise. It’s basic economics. Of course my expecting writers at the Times to show an understanding of basic economics when they have an agenda to uphold is probably the real problem.
2012-04-27 » madlibertarianguy