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>Just compare for profit higher education with public higher education. The wages/benefits for workers former very much lag those of the latter. And here appea
by pravda 9y ago
>Just compare for profit higher education with public higher education. The wages/benefits for workers former very much lag those of the latter.
And here appears the Broken Window Fallacy!
- TheCoelacanth 9y agoWhat exactly do you think is "broken" when a worker gets higher pay? In the Broken Window Fallacy story, the total wealth in the system is decreased when the window is destroyed. In this example, no wealth is destroyed, it is just distributed differently. If you believe that wealth has a decreasing marginal utility as you become more wealthy, the more even distribution where the worker is paid more has a higher overall utility even though the total wealth is exactly the same.
- sharemywin 9y ago"decreasing marginal utility" I know I'm bastardizing the meaning but it got me thinking about Elon Musk versus "prototypical lotto winner that loses everything" you could certainly argue that he is using his wealth(as well as others) to benefit society, ie. mars, electrification of transportation, etc.
- TheCoelacanth 9y agoBut if you count that then you also have to count the billionaires spending money lobbying to be allowed to continue pumping carbon into the atmosphere or for more bombs to be built. If you start using that method of calculating utility, I wouldn't be surprised if the marginal utility is actually negative at some point.