DYSPEPSIA GENERATION

We have seen the future, and it sucks.

Frankly Signaling

27th May 2014

Bryan Caplan is always worth reading.

Within economics, the idea that education has a larger effect on income than productivity is vaguely right-wing. Why? Because economists realize that this premise undermines the textbook efficiency case for governments’ massive education subsidies.

Outside economics, however, the idea that education has a larger effect on income than productivity is vaguely left-wing. Why? Because non-economists realize that this premise undermines the legitimacy of the status quo – which they think of as “capitalism.”

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