Rantings and tirades of a frustrated economist.
Another reason why I soured on the ''privatize the public schools'' meme. What recourse is there for a child's parents if the ''privatized'' public school is a fraud? After receiving (tens of) thousands of 'voucher' money mind you.Fred Reed and John Derbyshire have a suggestion; Public/publicly funded only up to 5th grade.After that, whatever else is the parents (and of course, child's) responsibility.Granted, that wouldn't happen, because, for the most part, schools exist for two reasons:1. Day care to at least age 16 - and for more than a few, an alternative to just plain jailing them. Because the biological parents won't (or due to drugs/alcohol/incarceration/in US illegally can't) take any responsibility for their offspring - and there is no practical way to make them do so.2. A ''minor league'' for sports - not just ''sportsball'', all of them.
It's hard to believe that the baby boomers are retiring before paying off their student loans. http://www.gao.gov/assets/690/681722.pdf That doesn't bode well for the millennials who are paying 18x more for tuition, not to mention the increased cost of rent caused by the baby boomers housing bubble. Since the oh so wise baby boomers are sure real estate prices will never go down even if they don't bother having enough of those troublesome kids to even meet the replacement rate. The best thing any of these kids can hope for is the bankruptcy of their school, because that way they basically got four years of free room, and board.
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