News for hackers. Stuff that matters.
Re:Matt Levine makes sense of Wall Street like none other by Klinky on Friday October 09, 2020 @09:03PM (#24735910)
Examples of worse outcomes? I mean, it sounds like you're saying rich people will find alternative ways to undermine integrity, so we should lessen the path of resistance and just accept it. I am not sure why anyone would be okay with that.
Re:Matt Levine makes sense of Wall Street like none other by roenxi on Saturday October 10, 2020 @04:56AM (#24737603)
Do you foresee a future where rich and powerful people don't routinely get what they want? That would involve redefining what it means to be rich and powerful.

The US's strategy of funnelling the power through visible, legal channels with some levels of consistency is by far the best. If they want their kids in prestigious universities then that is what will happen. There isn't an alternative where the powerful shrug sheepishly and let their position erode.

Re:Matt Levine makes sense of Wall Street like none other by Klinky on Saturday October 10, 2020 @10:30AM (#24739219)
Again, the argument is that rich people should be allowed to be corrupt and there is no way to stop them, which is garbage. Firstly, stop stating it's "best" or like OP noting it as "success".

Let's tax the rich more and give everyone access to higher education, even the playing field out. Yes you can redefine what rich means, and what poor means, over time through policies.

That last part sounds like almost a threat regarding what rich people might do if you block their corrupt behavior. That's already a sign there's a problem with the power dynamic here.

Re:Matt Levine makes sense of Wall Street like none other by roenxi on Saturday October 10, 2020 @05:47PM (#24742109)
> Let's tax the rich more and give everyone access to higher education...

Someone getting in by buying the institution a new building isn't denying anyone access to higher education. In fact, since the institution has a new building it is likely it is increasing access to either education or research opportunities.

> Let's tax the rich more and give everyone access to higher education...

30% of the US does get a degree, so higher education isn't exactly an elite marker.

[2-4 years of time] X [70% of the US that doesn't have a degree] is an enormous number of hours. If someone is not going to use it then they have better things to do than academics. The risk of most of that 70% just looking back at a couple of wasted years is pretty high.

I suppose in fairness it might work out, but even now there are a lot of people getting degrees who havn't managed to parley it up into better outcomes. But it is likely to be a terrible plan, expensive and with marginal positive outcomes.

Re:Matt Levine makes sense of Wall Street like none other by Applejinx on Saturday October 10, 2020 @08:51AM (#24738623)
At one point, a thing called the Magna Carta was arrived at for just such a purpose. One might say that redefining what it means to be rich and powerful, is normal.
Re:Matt Levine makes sense of Wall Street like none other by dodobirdlord on Saturday October 10, 2020 @02:09AM (#24736984)
Rich people can buy things with their money, that’s sorta the point. One of those things is a college admission. Whose integrity is compromised when a college trades an admission slot for a building?
Re:Matt Levine makes sense of Wall Street like none other by Klinky on Saturday October 10, 2020 @10:25AM (#24739192)
This isn't just for a building, but lesser donations can also potentially gain favor. There should certainly be disclosure if someone is getting favorable treatment due to money. If it's a public institution, it should not be possible at all.
Re:Matt Levine makes sense of Wall Street like none other by dodobirdlord on Saturday October 10, 2020 @08:38PM (#24742988)
I don't think this is a thing at public institutions for exactly that reason.
Re:Matt Levine makes sense of Wall Street like none other by Barrin92 on Sunday October 11, 2020 @11:45PM (#24751197)
over time the entirety of the state apparatus (and business as well) who recruit out of these institutions because excellence and merit are replaced by legacy more and more and the quality of government and leadership continues to decline.

I mean you can literally witness it with your own eyes right now when you look at the US on the world stage. Compare the quality of governance and selection of candidates to a country like Singapore, or hell even China whose ruthless political apparatus weeds out people who don't perform quite effectively.