Libertarian Commentary #16-12E, by Nathan Barton
We all think of “institutions” as being at least essential, if not always good. Churches, schools, banks, the press, and so much else were taken for granted as GOOD things for centuries, but today we get enough information to be able to see them for the horrible things that they often are. Here are a few stories to help us understand why our libertarian future is going to be better off without the overwhelming domination of these institutions. Some version of them may exist, but they will be far different.
Is college good for you? Not for millions of people who have gone deeply into debt getting what seems more and more like a worthless piece of paper. The Foundation for Economic Education reports that barely half of student loans are being repaid today. Or paid on at all. (I know one person who owes $60,000 in loans, has for at least three years, and hasn’t paid back a PENNY. In part because he can’t get a job, and in part because the “business management” degree he got is worthless, and the private, on-line school he owes the $60K to has all the scholarly qualifications of your typical ghetto grade school.) Meanwhile, the colleges (and not just these internet horrors) keep jacking up their prices as they get more and more staff and more and more amenities. It is, more than ever, a scam, just as it has been for 40 years for all but a few professional and technical degree fields. No wonder the squatter in DC (and at least Bernie Sanders) are touting free college education: because that is exactly what 90% of them are worth. Continue reading
Dirty, Dirty Politics
Libertarian Commentary #16-13A, by Nathan Barton