Equity financing for college education

In the New York Times today, Luigi Zingales floated out what most probably consider a terrible idea for financing college education: private investors buying out equity stakes in students’ future income. Investors could finance students’ education with equity rather than debt. In exchange for their capital, the investors would receive a fraction of a student’s… Continue reading Equity financing for college education

Remember oil price hysteria?

Back in February, a short-term spike in oil prices managed to find itself into the cacophony of stupidity that is right-wing cable and television programming. The sentiments expressed ranged from Obama being a failure because he cannot control oil prices to Obama conspiring to raise oil prices to serve his environmentalist agenda. I had a… Continue reading Remember oil price hysteria?

All the merit money can buy

Chris Hayes has an excellent piece in The Nation about the slipperiness of meritocracy in the United States. In it, Hayes establishes what he calls the Iron Law of Meritocracy: The Iron Law of Meritocracy states that eventually the inequality produced by a meritocratic system will grow large enough to subvert the mechanisms of mobility.… Continue reading All the merit money can buy