Partially: that’s the perfectly rational position but … how many teenagers did you know who carefully planned the game-theoretical optimum for their life? The g

Partially: that’s the perfectly rational position but … how many teenagers did you know who carefully planned the game-theoretical optimum for their life? The guy who got a scholarship to MIT is doing that but public policy has to think more about how the 50th percentile person is doing and I think that’s where what you see around you matters more: someone academically driven or who grew up comfortably with professional class parents has the cultural preparation to stick with it but someone who has non-stellar grades, needs to juggle work and school, is thinking regularly about how many years of their parents’ annual income their student debt translates into – that’s who’s likely to give up.