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Also as long as US education remains a strongly positional good — that the value of your education continues to be mostly dependent on where your university sit
by larnmar 7y ago
Also as long as US education remains a strongly positional good — that the value of your education continues to be mostly dependent on where your university sits in the pecking order, rather than on some absolute value (e.g. of the knowledge you actually learn).
With a positional good, demand can never be really satisfied, because everyone always wants something further up the chain, so prices expand to whatever people can possibly pay.