Comment by collinmcnulty
Comment by collinmcnulty 3 days ago
I think widening the aperture outside the USA shows how big societal progress has come out of universities of the type we now recognize, starting with 1800s Germany. Even within the USA, the technological and social progress that percolated on universities had big impacts beyond the people actually enrolled and were essential in providing the basis for the employment of many other Americans.
Finally, it’s worth qualifying the idea of America’s decline. The USA is still THE powerhouse economy of the world. We have huge problems with unequal distribution and things are seriously politically messed up, but in terms of raw productivity, we are doing gangbusters. And solving the political and inequality issues call for a more educated populace, not less.
> in terms of raw productivity
In terms of dubious financialized metrics of productivity, i.e. debt + fx driven growth. Which is valid indicator, but also the same inflated indicator that suggests 2025 tertiary that cost 200% 1980 tertiary (income/inflation adjusted) is somehow more productive and not parasitic. The entire problem is spreadsheet doing gangbusters is dependenant on increasingly inequitable CoL extraction to prop up GDP flows. US economy would appear much less powerhouse if not for all the disproportionate financiailization/rent extraction from inelastic sectors (rent/education/health etc) aggregated over past 40 years over functionally comparable value goods/services.