Comment by jgord

19 days ago

Inequality has also changed over the last 40 years .. students have to hustle gig-economy jobs just to get by, and incur substantial debt to study.

https://www.pewresearch.org/social-trends/wp-content/uploads...

Certainly there is no time to read widely or sit around thinking or chatting with people who challenge our views .. no time to hang around campus and engage in conversation.

Gary of Garys Economics YT channel makes the point that inequality - in and of itself - robs the middle class of wealth :

Essentially he argues that the fraction of dollars allocated to the middle class is less, and the total amount of dollars is used to apportion 'real' wealth - ie. the total number of atoms, people, energy supply, houses, land, paintings does not go up in proportion, so the same dollar amount will buy less realworld goods.

Science and Technology - universities and startups - require an abundant over-apportionment of capital to make sure that we cast a large net in order to reach those rare talents that make significant advances.

The side effect of wasted funding - students who learn/research stuff they wont use in jobs, and startups that fail to find PMF and scale fast .. is a well educated, better society in which to live.

Relatively low inequality and high progressive tax post-WWII funded the new medicine and tech we now enjoy.

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jgord

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latency-guy2  19 days ago

You have stated no facts.

https://www.bls.gov/opub/ted/2023/labor-force-participation-...

The demographic across the board works less today than in the past. They might accrue debt, but they're not working it off while at college.

Further, you're even more wrong than you think you are.

The average student at college is now painfully average. This is because the average student is admitted to college at rates higher than ever before.

College participation rate is higher than in the past as well.

> Relatively low inequality and high progressive tax post-WWII funded the new medicine and tech we now enjoy.

You're not even correct about the taxes either. The taxes were TIED to the war.