2 ms·

http://slatestarcodex.com/2015/06/06/against-tulip-subsidies/ http://slatestarcodex.com/2015/06/06/against-tulip-subsidies...

• pjscott 11y ago
  Quick summary: subsidizing positional goods makes them more expensive (because there's always someone willing to pay more for a higher place on the totem pole), and it looks like this effect has driven up the cost of higher education, which is partly a positional good. Beware of throwing more money at this.