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Originally Posted by ASAP
I feel like this lack of a hardline stance is exactly how we ended up here... no one said a university shouldn't be a profit center but instead should be a govt back education institution... so what we've ended up with is what I like to call Convenient Capitalism that is the right decision at the time.
This has ended up with massive costs being passed on, asset inflation and virtually minimal wage growth for most people. I predict that in 30 years if school costs, housing costs, education costs vs wages dont' come under control... expect an India type situation - you are either born into wealth or you aren't and are forever and indebted renter trying to make it for some laughable wages.
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I don't think that has much to do with lack of a hardline stance... that's just lack of regulation in the midst of misinformation, lack of knowledge, lack of accountability, and general deceit. Those are two different things.
"Convenient capitalism" is the reality when you're dealing with people's livelihoods. But it's possible to continue to do that while still ensuring you instill knowledge and awareness and accountability for future progress and improvement. I guess I'm in the middle. People need to learn a lesson and need to be held accountable, but in a way that's least painful to everyone as a whole. If not forgiving student loans sends the economy spiraling, that hurts us all, even those of us who have been responsible and accountable. On the other hand if forgiving student loans sets us up for economic disaster, then I'm against it. I'm not an economist so I can't really comment on what the best approach is. But what I am for is evaluating what the implications of each scenario are, irrespective of "feelings".