I can\’t think of anything which would explain this lot today other than ingestion of a goodly quantity of happy pills.
In what Ucas calls \”the most competitive year ever\”, remember how 20 years ago anyone who could scrape together a couple of passes found a place on some university course somewhere, with little to pay. Once students pay the whole cost, the value of that degree needs to be cashable. Creeping credentialism means anyone without a degree competes at a disadvantage with graduates for jobs that never needed a degree before.
Yes, quite. This is the point about making students aware of the cost of their education.
When everyone can get a degree at no direct personal cost then we\’ll see that credentialism as everyones\’ got a degree. Make people realise the true cost of a degree and we\’ll see that degrees are demanded only for those times and places when a degree is necessary.
More simply, supply and demand really do work you know? If 50% of the age cohort have degrees then 50% of the jobs will demand degrees. It\’s a simple filter for people doing the hiring.
It\’s an odd irony, and no doubt one he feels himself, that David Willetts, author of the best book on the broken intergenerational social contract, is now responsible for making university so much harder to access. The Pinch: How the Baby Boomers Stole Their Children\’s Future, is a devastating critique of our \”selfish giant\” of a postwar generation, where 45-65s hold 52% of the wealth, and the under 45s only 13%.
Dear God Above. This is simple maths Polly.
To examine how much inequality you would get even in a perfectly equal society, I whipped up a simple Python script to compute wealth distribution in a society where every person works for the exact same salary (this should be enough equality for anybody, yes?) of which he saves the exact same amount. For a 5% annual interest rate, the five wealth quintiles controlled 2, 7, 15, 28, and 47 percent of total wealth, respectively. For 10%, these quintiles controlled 0, 4, 10, 25 and 60 percent of wealth.
Lifetime savings hypothesis and all that. People don\’t start saving until they start work. They the keep saving while they work. Thus, obviously, wealth will be concentrated in the hands of those who have been saving for decades, not those who have been saving for the last 5 minutes since they first got a job.
What\’s more, their children now marry into their own class more than before, due to \”assortative mating\”,
Indeed, but what are we going to do about it? State distribution of marriage partners next?
Since private schools spend around three times more per pupil, that\’s no surprise.
The State spends, umm, £6k, £7 k per pupil, something like that isn\’t it? Boarding schools might spend three times that but no day school does. That\’s over the edge of the damned lies part of the statistics continuum isn\’t it?
The young pay for the financiers\’ calamity while my generation keeps its bus pass, winter fuel allowance and hefty state subsidy to pension contributions.
Err, no. Winter fuel and bus passes come when you retire. By definition, when you retire, you\’re not making pension contributions nor enjoying tax relief on them, are you?
But I\’ll agree with you there, abolish the bus passes and the winter fuel allowance. Finally Polly agrees with Christopher Fildes on something…..