> Higher education tuition increases for public universities is directly tied to cuts in government support for said government institutions.
Government spending on higher education has gone up dramatically.
Most of the increase there is probably attributable to student loan subsidies and the inability of borrowers to default. Make it possible for anyone to borrow an obscene amount of money to bid on status goods like elite degrees and the consequence isn't that hard to predict.
> But let’s get back to the topic at hand, whether or not benefits of productivity increases are felt by workers, or if it’s primarily concentrated with the already wealthy.
> The answer is clear. The benefits are concentrated with the few. Sure prices drop, but so do wages and overall wealth by the majority. This isn’t even a controversial take. Government statistics have been tracking this for 40 years.
What you've failed to establish is any link between the productivity improvements and the concentration of wealth. Why has capital captured the higher share? TFA provided the answer. Market concentration as a consequence of regulatory capture.
Consider the result if we had this degree of market concentration without the efficiency improvements from automation.
Government spending on higher education has gone up dramatically.
Most of the increase there is probably attributable to student loan subsidies and the inability of borrowers to default. Make it possible for anyone to borrow an obscene amount of money to bid on status goods like elite degrees and the consequence isn't that hard to predict.
> But let’s get back to the topic at hand, whether or not benefits of productivity increases are felt by workers, or if it’s primarily concentrated with the already wealthy.
> The answer is clear. The benefits are concentrated with the few. Sure prices drop, but so do wages and overall wealth by the majority. This isn’t even a controversial take. Government statistics have been tracking this for 40 years.
What you've failed to establish is any link between the productivity improvements and the concentration of wealth. Why has capital captured the higher share? TFA provided the answer. Market concentration as a consequence of regulatory capture.
Consider the result if we had this degree of market concentration without the efficiency improvements from automation.