Richard Posner [Hat tip]:
Finally, I am not clear what we should think the problem of American education (below the college level) is. Most children of middle-class (say upper quartile of households, income starting at $80,000) Americans are white or Asian and attend good public or private schools, usually predominantly white. The average white . . . → Read More: Educational Scalability
Like this isn’t an attempt to split a non-existent hair:
The segregation model predicts that as the society gets wealthier, the dollar cost of college will get higher. The signaling model would not necessarily predict that. In fact, it would predict that the market would try to find less expensive signals.
It’s like Kling . . . → Read More: The Cost of Signaling
Walter E. Williams, on the federal income tax:
During the legislative debate before enactment of the 16th Amendment, Republican President William Taft and congressional supporters argued that only the rich would ever pay federal income taxes. In fact, in 1913, only one-half of 1 percent of income earners were affected. Those earning $250,000 a . . . → Read More: Interesting History
In his book, ‘A Theory of Justice’, John Rawls considered what principles of justice would be agreed upon by all behind a veil of ignorance in which no one knows their place in society – their wealth, their class position or social status, their intelligence, strength, state of health etc. One of the principles . . . → Read More: What Distribution Principle Would you Choose Behind a Veil of Ignorance?
Your chances of success in life depend on your intelligence, your family background and your temperament, don’t they? Yes, to some extent. But over the last few days I have read about research findings which suggest that beyond a threshold IQ doesn’t make much difference, the important aspects of family background are only superficially . . . → Read More: What determines whether we have successful lives?