'Under pressure from voters, Biden seems to be addressing a portion of the problem, but college debt is just a bit of fungal decay growing on a vast expanse of infected matter.'
President Joe Biden recently instituted a program to forgive some of the student debt that plagues approximately 45 million Americans. That is all well and good, but why are so many people in debt up to their eyeballs for a vaporous commodity that, in so many cases, delivers nothing? This isn’t bitter hyperbole, but tangible fact when you add up all the dropouts and the hybrid degrees in, say, comparative Latin poetry and transpersonal themes of 19th century German philosophy .
Only 35% of freshman students will both manage to graduate and use their degrees to launch a career, and many of these careers involve sketchy middle management positions that the late anthropologist, David Graeber, deemed, “bullshit jobs.” Graeber subdivided this ghostly faction of the workforce into five categories—flunkies, goons, box tickers, duct tapers, and task masters—each a talisman of administrative bloat.
Giving money away to flimflam artists is as old as money itself. Paying hundreds of thousands in tuition and buying $400 textbooks , suggests a medieval prototype—the church indulgence .
Medieval church officials, to their credit, made relatively modest claims regarding their product. They neither promised to enhance your future earnings or make you into a more desirable marriage partner. A church indulgence, like toothpaste or medicated foot powder, did only one thing—it shortened your torments in hellfire, period. A college education, on the other hand, is lauded for so many different things that few of us know exactly what it does.
Biden, under pressure from voters, seems to be addressing a portion of the problem, but college debt is just a bit of fungal decay growing on a vast expanse of infected matter. A huge chorus calls for the elimination of college debt but who calls for the elimination of college? Okay, that may be too extreme—maybe college merely needs to be regulated, like toxic waste, carbon emissions and controlled substances. At bare minimum, colleges should be investigated.
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