There were as always interesting comments, butI will reply just to the one that was made most frequently. It is that there are external benefits from the study of certain subjects in college, such as English literature and other of the humanities (philosophy, classics, etc.), that would be lost without subsidized student loans. I disagree with this argument for subsidized loans, on several grounds. First, while there may be some external benefits to the study of the humanities, although I'd like to see the evidence or even the argument, I imagine that they are exhausted at a lower level than is generated by subsidization. Second, universities have flexibility with their endowments and they can allocate more endowment funds to the humanities if student tuition income drops because of withdrawal of loan subsidies. Third and most important, most of the ablest students go on to some form of graduate education, and for them the choice of an undergraduate major has few economic implications and so is unlikely to be affected by the existence of loan subsidies. One of the commenters pointed out that I myself majored in English in college. I think it was a valuable background to my subsequent legal studies and I would continue to recommend it as a college major.
« Reply to Comments on Student Loans-BECKER | Main | Comment on Tort Reform-BECKER »
01/16/2005
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c031153ef0133efcfadba970b
Listed below are links to weblogs that reference Reply to Student-Loan Comments--Posner:
» Why I Love Judge Posner from In the Agora
Do you know what I would love to see? A Judge Judy-style show, with Posner presiding over intellectual disputes. "Well, Your Honor, Susan Sontag's writings clearly--" "You are out of order! This is a court of intellect, not of poseurs!"... [Read More]
» The Government Should Stop Funding Student Loans from Hispanic Pundit
Only a crazy right winger, or libertarian could possibly believe that, you say? A proposal that favors the rich at the expense of the poor, you say?
If you do, you would be wrong on both counts. That is precisely the latest topic by one of the most... [Read More]
» Private Student Loan from Private Student Loan
Even with only two of us living here at stately Sinister House my student loan paymentsAll Consolidate loan student Info,... [Read More]
» College Loans from College Loans
All types of loans including personal loans, car laons finance, insurance, home loans, equity loans, education college stu... [Read More]
» Loans from Loans
Hitwise Search Intelligence data reveals that searches for 39;loans39; have increased The share of UK searches ... [Read More]
» Loans from Loans
Up to $1500.00 cash in your account. Payday loans approved in 30 seconds! ConsolidateJust complete loans application and you cou... [Read More]
» Click Here from Click Here
I found this great site while surfing. Take a look and see what you think [Read More]
» Finan Sure Student Loans from Finan Sure Student Loans
Always confirm the location with the business. 1101 [Read More]
» Act Student Loans from Act Student Loans
This law has been sitting in congress sense 2000, Clinton,Bush,has blocked it, there [Read More]
» Available Student Loans from Available Student Loans
I say "obvious" because it's clear scholarships and grants are a better deal than [Read More]
» Different Types Of Student Loans from Different Types Of Student Loans
I just finished reading Books on Trial: Red Scare in [Read More]
» Act Student Loans from Act Student Loans
Lending Services Retail & Operations Student Loans Privacy Statement USA Patriot Act [Read More]
» Student Loan from Student Loan
No fees, low interest rates, fast and easy- Apply online!www. N [Read More]
» Student Loans Or Student Grants from Student Loans Or Student Grants
The student loan deferment program is intact for now. Henc [Read More]
» Congress Student Loans from Congress Student Loans
New York Attorney General Andrew Cuomo urged Congress Wednesday to legislate a cl [Read More]
» Easy To Get Small Student Loans from Easy To Get Small Student Loans
TITLE: Easy To Get Small Student Loans
URL: http://student-loan-4youpurdana.info/easy-to-get-small-student-loans/
IP: 74.86.161.150
BLOG NAME: Easy To Get Small Student Loans
DATE: 06/04/2008 09:53:04 PM [Read More]
» Student Loans from Student Loans
From federal student loan consolidation, to applying for your first student loan, at you can l [Read More]
» Llc Student Loans from Llc Student Loans
Student loans disbursed after 7/1/06 have a fixed interest rate of 6.8. Take the [Read More]
» Student Loans Programs from Student Loans Programs
Federal loan consolidation departments provide consolidation services to students who se [Read More]
» Student Loan from Student Loan
There was an unexpected error that occurred while processing your pa [Read More]
» Help With Student Loans To Go To School from Help With Student Loans To Go To School
How Spanish immersion trips can help students learn Spanish. I decided to buy the stude [Read More]
» Student Loan from Student Loan
Student Loan, College Funds, Money For College- Astrive S [Read More]
» Student Loans Finance Uk from Student Loans Finance Uk
TITLE: Student Loans Finance Uk
URL: http://www.studentloanconsols7xanezy.info/student-loans-finance-uk
IP: 74.86.161.142
BLOG NAME: Student Loans Finance Uk
DATE: 06/30/2008 05:14:51 PM [Read More]
» Student Loans from Student Loans
Student loan information, financial aid information and student l [Read More]
» Garden | Zee online from Garden | Zee online
Here in the U. S., National Geographic has been running a TV special on Jesus the man as part of a series of Christmas specials focusing on history, but surprisingly using the Bible as a core document. Reading your account here about your efforts to fi... [Read More]
» Everyone Approved Student Loans from Everyone Approved Student Loans
TITLE: Everyone Approved Student Loans
URL: http://studentloans-r2ntes0ter.info/everyone-approved-student-loans.php
IP: 74.86.160.98
BLOG NAME: Everyone Approved Student Loans
DATE: 08/28/2008 03:42:06 AM [Read More]
» College Student Loans from College Student Loans
Generally the eminent the borrowing pace, the college student loans degr [Read More]
» Post Graduate Student Loans from Post Graduate Student Loans
Post-graduate loan programs resemble undergraduate student loans in many ways; [Read More]
» Student Loans For Students Unnder 18 from Student Loans For Students Unnder 18
Both offer Stafford and Plus Positive ect loans hold the same criter [Read More]
» Online Payment Student Loans from Online Payment Student Loans
Usable at: About two-thirds of all subsidised Staffor [Read More]
» Auto Cash Loan from Auto Cash Loan
Quick Car Title Loans by AZ Cash-n-Go, Borrow Cash for your Car Title while Driving Your Car. Bad [Read More]
» Facts On Student Loans from Facts On Student Loans
Loan consolidation is a process of combining two (or [Read More]
» The Facts On Student Loans from The Facts On Student Loans
"That way, you can expression rugged questions early [Read More]
» Compare Small Student Loans from Compare Small Student Loans
home equity mortgage loan; home mortgage loan refinance; best student loans consolidation; sma [Read More]
» How To Lower Student Loans from How To Lower Student Loans
Those loans are sometimes interpreted out by undergraduates alone, others by the [Read More]
» Student Loans For Second Degree from Student Loans For Second Degree
Confidentiality 36Article Viii Term and Termination "Section 8. Educatee [Read More]
» Combine Student Loans from Combine Student Loans
This way two things for those applying for a private edu [Read More]
Verify your Comment
Previewing your Comment
This is only a preview. Your comment has not yet been posted.
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment
As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.
Having trouble reading this image? View an alternate.
Search
Become a Fan
Home Pages
June 2013
Recent Posts
- Reform of the Tax Code-Becker
- Tax Reform—Posner
- Abenomics and Japan’s Stagnation-Becker
- Should the European Union Emulate Japan's Inflationary Monetary Policy?—Posner
- China’s Tilt Toward the Private Sector? Becker
- The Chinese Economy—Posner
- Security Surveillance Cameras—Posner
- The Internet, Surveillance Cameras, and Misuse of Big Data-Becker
- The Rise in College Tuition and Student Loans-Becker
- College Costs and Quality—Posner
The economic value comes from creativity. I'm not saying, of course, that non-humanities majors are not creative. However, an undergraduate degree in the humanities reflects a broader-based education than any other field. Generally, one could likely also argue that someone with a humanities background places a high value on a broad-based education.
Creativity generates economic stimulus. Creativity requires ideas. An idea is the synthesis of disparite elements. An education in the humanities emphasizes the act of synthesizing disparite elements. Therefore, college graduates with a background in the humanities have economic value, especially for entrepreneurial ventures.
Posted by: Joe | 01/17/2005 at 09:19 PM
One point that I have not seen raised here with regards to students in the humanities is that they pay the same tuition as students in technical fields, even though the costs of their education to the university are considerably lower. In other words, we have some sort of distortion going on here, some sort of cross subsidy, something that I think should be dealt with before discussing if such careers should be subsidized or not. Personally, I am currently teaching a economic sociology class here in the US, and my students pay the same tuition as students in biology or chemistry. Offering sociology classes (for example) is a lot cheaper than offering Chemistry classes, with all its labs and supplies. Perhaps, then, subsidies would not be necessary if there was a difference in tuitions in accordance to their actual course.
A potential negative outcome of this would be what has been going on in my native country, Brazil: we are experiencing a boom in the number of people with college degrees, but most of these degrees are from small private colleges that only offer the cheaper courses, such as Business Administration and accounting, and that do not offer classes in more technological fields, something sorely needed in a developing country.
Posted by: Diogo | 01/21/2005 at 09:26 PM
Only paris hilton sex tape
Posted by: Anonymous | 06/11/2009 at 02:23 AM
Best Free paris hilton sex tape
Posted by: Anonymous | 06/11/2009 at 02:23 AM
Is it real to see kristin davis sex tape online
Posted by: Anonymous | 06/12/2009 at 12:36 AM
مركز تحميل
Posted by: Anonymous | 06/26/2009 at 11:06 PM
thanks for your post.perhaps you will like abercrombie
Posted by: Anonymous | 06/29/2009 at 03:56 AM
Very nice site! cheap viagra
Posted by: Anonymous | 07/01/2009 at 02:44 AM
Very nice site!
Posted by: Anonymous | 07/01/2009 at 02:44 AM
Thank you, you always get to all new and used it
شات
دردشة
Posted by: Anonymous | 07/14/2009 at 08:31 AM
شات مصر
--
دردشة مصرية
Posted by: Anonymous | 07/14/2009 at 07:00 PM
دردشة
___
صور
Posted by: Anonymous | 07/17/2009 at 03:54 AM
Good morning. All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.
I am from Northern and also now'm speaking English, tell me right I wrote the following sentence: "Booking new mexico vacation rental will make you feel relaxed in holidaying town."
THX :o, Starr.
Posted by: Anonymous | 07/18/2009 at 12:30 PM
شات الرياض
شات غرام
Posted by: Anonymous | 07/21/2009 at 09:16 AM
دردشة الشلة
دردشة تعب قلبي
Posted by: Anonymous | 07/23/2009 at 03:50 PM
دردشة الشلة
شات روحي تحبك
Posted by: Anonymous | 07/24/2009 at 08:03 PM
شات الخليج
شات حبي
Posted by: Anonymous | 07/25/2009 at 02:23 AM
Help me to find the,
Posted by: Anonymous | 07/29/2009 at 04:06 AM
Is it so important?,
Posted by: Anonymous | 07/29/2009 at 07:41 AM
Your Site Is Great,
Posted by: Anonymous | 07/29/2009 at 11:16 AM
دردشة الشلة
دردشة الرياض
Posted by: Anonymous | 07/29/2009 at 02:06 PM
Excellent site. It was pleasant to me.,
Posted by: Anonymous | 07/29/2009 at 02:54 PM
دردشة برق
دردشة الخليج
Posted by: Anonymous | 07/29/2009 at 05:35 PM
Nice,
Posted by: Anonymous | 07/29/2009 at 06:16 PM
Hi,
Posted by: Anonymous | 07/29/2009 at 09:35 PM