News for hackers. Stuff that matters.
Re:Patrick Collison's Questions by peacefulhat on Sunday August 23, 2020 @09:51PM (#24256900)
Subsidized corn is not rapidly and consistently increasing in price.
Re:Patrick Collison's Questions by grandmczeb on Sunday August 23, 2020 @09:59PM (#24256934)
I don’t necessarily buy the idea that student loans are driving price increases, but there’s a tangible difference between subsidizing producers versus consumers (corn subsidies are generally the former, student loans are the latter).
Re:Patrick Collison's Questions by dantheman on Sunday August 23, 2020 @10:14PM (#24257009)
If people couldn't get the loans the price wouldn't be that high, people don't have the money to pay it.
Re:Patrick Collison's Questions by xoxoy on Sunday August 23, 2020 @10:11PM (#24256993)
education is a highly inelastic good...couple that with essentially unlimited federally back loans and you get price increases year after year
Re:Patrick Collison's Questions by donw on Monday August 24, 2020 @03:01AM (#24258137)
Corn is an example of subsidized supply.

Government money increases the supply of corn, and drives the price down. Hence, corn, and products derived from it -- high-fructose corn syrup (HFCS), corn-fed beef, Nu Metal bands, etc -- are cheaper.

College is an example of subsidized demand.

Government money increases the number of prospective students, by lowering the financial barrier to attend university. The result being that the cost of a university education has risen, drastically, while the quality of that education has plummeted.

Re:Patrick Collison's Questions by xoxoy on Sunday August 23, 2020 @10:09PM (#24256985)
education is not a commodity in the same sense as corn

and it’s much more of an inelastic good than corn

the difference between 50k in tuition and expenses and 55k will not change demand a meaningful amount, and universities exploit the fact that education is inelastic and the money is coming from a guaranteed source regardless of the student’s ability to pay upfront.

Re:Patrick Collison's Questions by dragonwriter on Sunday August 23, 2020 @10:17PM (#24257028)
The reason for the subsidies is to support farmers by offsetting what would otherwise be price decreases, so...