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>In a free market, education would be cheaper (you think the government subsidies, grants, scholarships, etc are doing anything but raise the price of tuition?) Government subsidies, grants and scholarships were absolutely available in massive supply even 20 years ago, when annual college tuition for in-state public schools averaged about 10k (including room & board and books). The student loans didn't make it more expensive; the influx of students did. It's not the kids fault they were sold a bill of goods by their boomer parents, the media, and even employers about college being the only way to avoid fast food or ditch digging as a career. >I truly believe that America's economic situation would be improved by those two things: increased transparency, and more freedom in the market. Then, why is life-saving medicine that USED to be relatively cheap so needlessly expensive? That wasn't government regulation. Turing pharma with Daraprim, KV pharma with Makena, then doxycycline, etc., the list goes on. I think this is one place the government should have (and could have, actually) stepped in but didn't. The invisible hand is so darn arbitrary. Makes computers and flat-screens so dern cheap, but something that can save our life? Nah. Go figure! Another example. I don't recall diamonds being anything but compressed coal. I don't think it's regulated much if at all (I don't recall the GIA being a government agency). There is no regulated market for it like there is gold and other precious metals. Yet, I'll be damned if it isn't expensive as hell. Why? |
People want them and are willing to pay the offered price for them. Just like truffles that cost $20 for shavings at a fancy restaurant.