11 Matching Annotations
  1. Sep 2020
    1. Second, the calculation of who benefits from tuition reduction assumes that that the population of college-goers stays fixed. But the goal of free college plans is to increase college attendance and completion, especially for poor students.

      This is an important point. The first paragraph of this section ("In a narrow sense, yes...") immediately raised concerns in my mind about the argument. I suspect that the reason people from poor families attend college at lower rates than their wealthy counterparts is because they do not have the financial means to do so. While free college would be regressive in a sense, due to the fact that there would b money left on the table from wealthy families who are able and willing to pay for their children to attend college, it would be progressive in the sense that poor families whose children otherwise would not be attending college now will be.

    2. The price of a four-year college education has risen faster than inflation for thirty consecutive years. A 2018 Pew survey found that 61 percent of US adults now think that “higher education is going in the wrong direction”. Of those, 84 percent identified rising tuition prices as a reason, higher than any other explanation by far.

      Given what some would consider the skyrocketing costs of attaining a college education, one must consider whether or not it is really necessary for so many to have a college education. College is often billed as the key to a better life and socioeconomic mobility, yet there are numerous professions which pay extremely well (electrician, construction work, etc.) and do not require a college level education. We should move away from pressing a bachelor's degree or higher as essential to financial success in life, and educate more people on the opportunities that lie outside of saddling themselves with debt and going to college.

    1. Without cooperation on debt restructuring, the international economy could be severely harmed by beggar-thy-neighbor strategies among lending institutions. In this context, the many non-transparent, bilateral infrastructure development loans made by China as part of the Belt and Road Initiative could loom particularly large

      It will be interesting to see the long term financial ramifications of the coronavirus. Especially in poor and developing nations. I believe that potential debt defaults by these nations could have a ripple effect through the world economy, potentially leading us into a downturn (or worse).

    1. men and women, and women now represent the majority, or nearly the majority, of stu-dents in professional training in medicine, law, dentistry, veterinary medicine, pharmacy and optometry

      It is really interesting to find this out. I hear a lot in public discourse about women ending to enter STEM and other fields more often, to break the barrier that these fields present as a sort of boys club. It is good to know that women have caught up and are winning in many of these fields.

    2. although that would greatly

      Why would this help? I feel like this is kind of tacked on here at the end of the paragraph without any supporting evidence. It is an interesting claim, and one that I think is true, but I would like to see it supported.

  2. Aug 2020
    1. fter the experiment was over, though, I went back to using the companies’ services again, because as itdemonstrated, I didn’t really have any other choice.

      This line really shows the gravity of the situation. While these companies may for the time being pass the consumer welfare check, it is a bit scary to think that this handful of companies has such control over my life - and that it extends beyond my internet usage to almost all aspects.

    1. The company found itself competing against Amazon, which suddenly made an identical product and sold it at a price the apparel company believed couldn’t be profitable

      Having been a private-label seller on Amazon for over a year, I can say for certain that Amazon has always promoted its own products over those of third-party sellers. While it is frustrating, I do realize that they are technically not doing anything wrong. At the end of the day, it is their platform and they have a right to promote their own products if they so choose. For them, it is a smart business decision.

    1. A classic example is the way Amazon cajoled Barack Obama’s antitrust officialsto bring a case against Apple for trying to compete in e-books

      I remember when I was in elementary school reading books on my iPod via Apple's iBooks. It is crazy to think about the fact that Amazon pressured the government into bringing litigation against Apple in order to ensure that they didn't become a monopoly, but paradoxically the litigation against Apple's "monopoly" served to cement the monopoly already in place, Amazon.

    1. In Help-t.•r's view, the critical problem with chattel slavery was not immorality but inefficiency

      This goes to show that economics can be used to justify and rationalize things that hurt people. This is an extreme example obviously.

    2. Economists also b ecame policy makers. The economist Arthur F. Burns replaced Martin as the Fed's chairman in 1970, inaugurating an era in which economists -including Volcker -led the central bank

      This quote goes to show that the hubris of 1950s Fed Chairman Martin negatively affected his work, due to the fact that he dismissed the economists under his supervision.

    3. They were in the basement, he continued, because "they don'l know their own limitations, and they have a far greater sense of con-fidence in d1eir analyses than 1 have found to be warranted

      I think this comment is a classic example of someone in power with excessive hubris. Rather than listening to those below him and either looking deeply into their claims, or at least assigning others to, he doesn't give them the time of day.