Bad Economics: College degree’s & Income inequality

Innervoice said:
The problem is too many people are going to college and getting useless degree’s. Once they get a useless degree and cant find a job or they get a low paying job, they start screaming “ income inequality” when they should be screaming “ i should of got a better degree”.
The reason many people choose useless majors is because they are easy and must less challenging than a degree that has merit.
The political left love to throw around “Income inequality” when in fact its bad decision making.
Why so many useless degrees besides the fact that they are easy to get ? Because the government pays for almost anyone with a pulse to go to college even if they have poor high school grades and low test scores.
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%%
NOT to worry, our state raised $6.2 billion bucks from the lotto, since 2004:D:D.
$521,000,000 fiscal year gross on that gross rip off;
$482,000,000 sent to 'education' /$21,000,00 expences/$17,500,000 to preschool.
Lotto is stupid tax on people that cant do math, like Dave Ramsey notes.
Strange, they say the poor are heavy lotto buyers:caution::caution:
 
College is so expensive in America precisely because of government intervention.

If you want to prove it, just looks a the cost to go to a top tier school and a lower ranked school. The costs are almost identical because the cost is set based on what students can borrow, not the value of the program.

Also note the wildly varying economic prospects for various majors, yet the schools typically charge the same amount for all their degree programs. In a free market system, more profitable majors would cost more in order to lure the needed professionals out of jobs in industry. As the same time, things like English lit degrees would be dirt cheap, since there is little need for it in industry and no need to build things like lab facilities at the school to support it.

Socialists are the problem here, not the solution.
 
There is no racism here. Im just pointing out “ useless college degree’s” and how in many cases income inequality is bull and more of an issue with choosing college majors that doesnt pay a lot.
The fact that the government pays for people to go to college with loans or grants means tax payers are paying for useless degree’s. This is one reason college is so expensive.
 
Today with the rise of internet the knowledge has never been so cheap and convenient to obtain.

And yes I agree - there is so many degrees where the job prospects are not good at all. Very bad decision to take on a loan to pay for such degree.
 
Tradess0610 said:
Today with the rise of internet the knowledge has never been so cheap and convenient to obtain.

And yes I agree - there is so many degrees where the job prospects are not good at all. Very bad decision to take on a loan to pay for such degree.
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Yes, much of what's learned in class can be found on the web today. In fact, some universities are still on full time zoom teaching and many students like it better.
Unfortunately, employers still look for the degree confirmation of an education. No diploma, no job.
The solution to the expensive worthless degree is to make education free. No serious degree is worthless. I've met Europeans with 2 PhDs and a law degree! The point is that we often fail to understand the value of multi disciplinary studies which may seem to be a waste, until they aren't. Look at high level corporate... Not unusual to have an MBA and a JD.
I know it hurts some, but the fact is that diversity of ideas make for better solutions. When complex decisions must be made, it's a lot more sound to be surrounded by people of different backgrounds than to be surrounded by stereotypes.
 
True. I am European and education is free. I got university degree in my home country for free. My sis became a doctor for free. Friends became lawyers for free.

Also in Germany is a good system - I did my MBA and CFA there, but got the tuition costs all returned as a tax deduction. Also a good way to go. Hopefully other countries will also realize the importance of free or at least low-cost education... The bad part of it it is than everyone goes to university, there is a lack of plumbers, and the plumbers you can eventually get, are crazy expensive :D :D :D
 
Tradess0610 said:
True. I am European and education is free. I got university degree in my home country for free. My sis became a doctor for free. Friends became lawyers for free.

Also in Germany is a good system - I did my MBA and CFA there, but got the tuition costs all returned as a tax deduction. Also a good way to go. Hopefully other countries will also realize the importance of free or at least low-cost education... The bad part of it it is than everyone goes to university, there is a lack of plumbers, and the plumbers you can eventually get, are crazy expensive :D :D :D
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It's an opportunity to bring in immigrants and teach them the practical skills that we don't want to do. It's a win-win for all. They leave their war torn countries for a better life and a job, we pay less for the services.
 
VicBee said:
It's an opportunity to bring in immigrants and teach them the practical skills that we don't want to do. It's a win-win for all. They leave their war torn countries for a better life and a job, we pay less for the services.
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Immigrants also tend to cluster in high-income countries :D

In EU, it is very well known, which are the popular countries, and which are the less popular countries. And also less popular countries need the plumbers.

At the end of the day it is supply&demand - the remaining plumbers will be able to charge what the market allows.
 
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