RE: Re: [Pen-l] Going Dutch

["David B. Shemano" <dshemano@xxxxxxxxxx>]

Raghu writes:

>> The arguments against welfare are:
>> (1) Poor Incentives: welfare makes the recipients shiftless, lazy and
>> dependent, and
>> (2) Inefficiency: the government is bad at investing money because it
>> lacks marketplace discipline.
>> 
>> Both arguments apply just as well to education subsidies as for
>> welfare recipients. If the government is paying the bills, of course
>> students will not maximizing their earning potential but instead spend
>> all their time partying! And of course, liberal government politicians
>> will give subsidies to leftist Anthropology departments and not to
>> Bible studies! Best to get the government out of it all.
>> -raghu.

A couple of months ago Michael Perelman complained (in generalities of course) about the quality and interests of his Chico State students, many of whom were obviously not going to college for the academic experience.  I was going to point out, (but did not at the time), that his frustration is a product of our societal decision to subsidize higher education, which has the necessary (and presumably intended) effect of encouraging many students to go to college who would not go if the opportunity costs were experienced more directly.  While it is impossible to dispute that certain individuals benefit from education subsidies, there is also the reality that many young people who would be better off immediately entering the workforce or marrying instead go to college, saddle themselves with significant indebtedness, learn little of value because they are unprepared or not up to the demands, and then enter the workforce in no better shape than if they had skipped the college experience.  Furthermore, as Michael has experienced at Chico State, the presence of these "students" is a distraction for the students who are willing and capable.  So there.

David Shemano
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