Monday, May 8, 2017

Free College Will Not Work

Bernie Sanders has proposed making college free.  He says, per his website, that no one should be denied a college education due to lack of ability to pay. And no one should leave college with a mountain of debt. Then Hillary Clinton jumped on the bandwagon.

I would like to contend, that while this sounds nice on the surface, a further inspection reveals that it would not work, and would essentially make your education worthless.

First off, let us assume that the supply of teachers stays the same. It is already hard to get qualified people to teach, so if the number of students increases, the number of teachers should also increase. If the number of teachers increases somehow, there's a likelihood you will be watering down the education people get, and it will be worthless on that face alone.

Assuming the supply of teachers stays the same, and the demand for sitting in a class with these teachers increases (which it will, because it's free), then going by economics 101, the price will increase. Schools need to make a profit, and if they see there is an unending supply of students, then they will simply make those who do attend their schools pay more. This is just how it is in a capitalistic society.

Now, on the other hand, say Bernie or Hillary decides to solve this problem by setting price controls for schools. If this happens, professors won't make as much money, and the incentive to become a teacher will be eliminated. Now no one will want to be a college professor.

Assuming the most qualified professors are already on the job, and other qualified professors choose some other higher paying job (or just stay put where they are), that means Universities and Colleges will be forced to hire less qualified professors, thus diminishing the quality of education, making it worthless.

If you're saying colleges won't raise the cost of education, just consider the states that have already provide "free college."  If you think college is free, then wait until you get the tax bill. Do your own research here and let me know what you learn.

All these aside, there is yet another reason free college would make your education useless. One of the reasons you get paid what you do is because the supply of those seeking to do what you do remains relatively low. However, if there is an influx of people wanting to become what you are or want to be, this will cause employers to lower the price.

This is economics 101 here. If the supply goes up, the price will go down. Your college education will be useless. You might as well just skip college and get the best paying job you can that doesn't require a secondary education.

If the progressives get their way, everyone should make the same wage anyway, as this is the entire premise of socialism -- equality for everyone. They see it as if everyone is equal then everyone is a winner. However, the reality of it all is, if everyone is equal, then everyone is also a loser. If everyone is equal, then everyone gets paid the same and everyone will end up in poverty. Worded another way: if everyone is equal, everyone is poor.

And there you have socialism. In a nutshell. This is another example of how socialism fails everywhere it's tried. It looks good. It sounds good. It probably even feels good. But it never works. It has never worked, and I'm certain it will never work.

So, if you think you don't get paid enough already, just wait until the price to become what you are drops. And if any or all of this happens, what's the point of getting an education?