I have zero sympathy for rich Americans that will be screwed over by a global meritocracy. I feel bad for ugly geeks that don't get the honor of exploiting their intelligence, simply because of lack of access.
How are you coming to the conclusion that those qualifying for free or subsidized tuition are any less qualified to be admitted than others? You seem to be assuming that. Why, I do not know. Let the hungriest, most ambitious and sharpest people gain access to the best educational institutions, in the hope that they can save the Republic. Don't let a financial litmus test (as in, not having a family able to afford exorbitant tuition costs) serve as a roadblock to the ideal of a meritocracy in the United States, which benefits all.
I agree with you there somewhat, but not totally. If the entire point of your education is education, then your point is 100% correct and valid. I think though that if you took a person who graduates first in his class with a degree in Finance from Iowa State University, and another who does the same from Wharton, I think that the guy from Wharton will have the edge in most cases. Not only will he likely have the edge in most cases, he will have a better Roladex with contacts that are likely to have more influence than the same student with the ISU Finance degree.
True. I do believe in education for educations sake. It is something that no one can take away from you, ever. But turn the situation upside down for a second, and look it at it from the other side. It is not so much the contacts that may be the value to find the opportunities. Imo it is the discipline that goes into getting into a school like that and maintaining a good grade that entices potential employers to offer killer opportunities to the young'un. It takes a work ethic that is a proven quantity to make it into the school and after. I wager though that lots of good candidates from okschool.edu get overlooked because they are not from a top school. Sad but true. Throw any hard working kid into the CBOE or the CBOT or MERC, and assuming that he is sociable and hard working, eventually he makes the contacts because people are constantly on the lookout for disciplined talent to poach. I see it all the time. The contacts you speak of are worth more if you want to do the hedge fund thing, imo... If you are from Iowa, and you don't move to NYC or Chicago to trade and make those contacts, you made a bad decision, all other things being equal. nitro
Is the IRS thinking about taxing this 'free' education? IRS agent: Well Sally, you just received an education that other students paid $100,000 to get. That puts you in the highest tax bracket. You owe us $38,000.