EpiPen College Education Costs: The Personal Financial Ebola©
From 1978 thru 2012 alone, the cost of a college degree rose 1,125% - 400% of the inflation rate during the period. (Cost of College Degree in Us Soars 12 Fold, Bloomberg, August 15, 2012)
Question was the college degree worth 400% over inflation in terms of value – be it earnings, learning, skill acquisition? Was it worth 400% over inflation with the quality of the education devalued by reduced teaching loads, increased substitution of graduate students and assistant professors, grade inflation etc.? Or is the acquisition of the degree just a ‘Brand’ -all graduation hat no job (or employment as a Barista at Starbucks living at home with the parents?)
By comparison, computer power, value & usefulness has risen 10x -50x+ fold (more bang for the buck) at reduced prices during the same period as the cost of the degree grew 1125% for a devalued diluted product at the expense of parents’ work free retirement, students effectively indentured to mounting debt with other societal impacts such as deferring traditional first time homeownership & the extension of adolescence & resentment having to live with one’s parents.
Metaphorically, this ‘higher’ education product is reminiscent of the same size cookie box with 50% less cookies – even worse - “more snowflakes less filling” due to evaporation.
Whereas the EpiPen price gauging extortion which escalated the price over 500% to $600 for two (when in Canada a two pack sells for $120 and a competitor in Europe, Jext, sells for $30-$60, where is the comparative outrage – at the shakedown by Good Old ‘F.U.’? (*) Instead, the focus is for bailout (the effect not the cause) by these ‘snowflakes, cupcakes & PC crybullies’ demanding college ‘be free’ (which means someone else is being extorted err paying & forgetting ((due to lack of education)) the most expensive things in life are free) just reinforcing their ‘give me, buy me, take me’ entitlement self absorption. Instead, the structural problems of higher education mooching (theft by personal financial ebola) should be addressed: tenure, subsidized cheap loans incentivizing administrator incompetency, bloat, and lack of unaccountability , accreditation (rigged accruditation based to process not results), the exemption from taxation of the huge collegiate endowments (which should be going into reduction of tuition) and the cup (buildings, ‘the brand’ & the bureaucracy) being more important than learning & skill acquisition.
Really, the University of Denver in 1967 had a tuition of $1500. Today, tuition alone is $43,500. Per inflation during this period, the tuition would be $10,300. Thus, the $30,000 a years difference or $120,000 for 4 years (not including earnings on the saving during the period) is a heck of a down payment on a home, and a large chunk going to parents’ work free retirement
Higher Education’s Personal Financial Ebola is the EpiPen geometrically extrapolated and yet where is the outrage. If anything, comparatively, there isn’t ‘even a smidgeon’ of fury let alone calls for Congressional Investigation of even the tax exempt status of The Jesse James Edutariat Scholar Barron Shakedown Artists & Moochers: ‘summa cum personal financial ebola.’
Higher Ed EpiPen Personal Financial Ebola: you hold ‘em
we’ll shtup ‘em for Good Old F. U.
* yes, in part – but the Epipin episode illustrates – the FDA can make it extremely difficult to get in a generic (hiding behind efficacy and safety) not that there is a revolving door and influence to slow down, delay – keep out generics by the Drug Co. FDA Complex – also using distinctions without a difference. Not that the fact that Mylan’s CEO was formerly its lobbyist in Washington DC, and the same CEO is the daughter of Democrat Senator Joe Manchin has any influence - which I’m sure is just a coincidence.)