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by hackinthebochs
5064 days ago
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The education bubble is in fact caused by the opposite of the free market. On one end you have government subsidies and no corresponding price controls which inflate demand and drive up prices. On the other end you have no negative feedback mechanism in terms of shedding the debt in bankruptcy for degrees that turn out to be worthless. There is no downside for institutions to continually inflate prices, so they do. Incentives run the world. |
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