[Flick Lives]

President Obama and his minions have brought the student loans under the auspices of the federal government. Senator Elizabeth Warren (D-MA) wants to decrease the interest rates being paid on these loans because she feels some are too high. Neither one wants to address the root cause, which is the soaring cost of a college education. They would never do so because their friends in the “intelligentsia” would have to answer questions about their mismanagement of resources.

Surprise, surprise. Those who crave power will always give away what belongs to others to gain the votes of the masses. Free food, free education. free healthcare, free housing.

Never mind that the economic physics of what they have done will cause the exact opposite thing to occur.

• The government reduces interest rates. The price of housing goes up.
• The government hands out EBT cards. The price of food goes up.
• The government hands out student loans. The price of a college degree goes up.

[The_Reader_David]

There is a problem with the analysis give briefly in the sentence: "They would never do so because their friends in the `intelligentsia' would have to answer questions about their mismanagement of resources."

The people who are mismanaging resources at universities are not members of the intelligentsia, but members of what Djilas called "the new class", professional managers. Universities would cost less and would be better run if they were still run by their faculty, yes even the loons in [aggrieved group] Studies departments, than by professional university administrators who build personal fiefdoms, expand activities which are not the core purpose of a university, and largely control their own remuneration and that of the faculty. I refer you all to the book entitled The Fall of the Faculty: the Rise of the All-Administrative University by a member of the faculty at Johns Hopkins for broad documentation of the phenomenon, and cite as an example my own university (a land-grant university in the Great Plains) where in 20 years enrollments rose about 25%, the faculty shrank 0.4%, and the number of administrators and support staff rose by 50%, all while the faculty's salaries barely kept pace with inflation, while administrators normal got raises in the range of 8% per annum.