Tuesday, January 27, 2004
On Student Fees and interesting debate on Crooked Timber of Humanity (this is NOT the Cuthbertson site ) with a long post on Kelly Betting as a strategy for deciding whether or not a future student should pay a Blair Fee for an university education. 'Kelly Betting' has nothing whatever to do with Dr Kelly and the Iraq war by the way... Overall the argument looks supportive of the LibDem position, although the counterarguments in the comments are worth pondering.
The key point (I think) thing is that even without upfront payments a student at the start of a course has to gamble on taking up a big financial commitment which represents a large proportion of current wealth in order to place a bet on getting a large future gain. The risk increases present vulnerability. The question is whether poorer students will rationally be more risk-adverse than students from a wealthier backgroundand the answer it appears is yes.
The key point (I think) thing is that even without upfront payments a student at the start of a course has to gamble on taking up a big financial commitment which represents a large proportion of current wealth in order to place a bet on getting a large future gain. The risk increases present vulnerability. The question is whether poorer students will rationally be more risk-adverse than students from a wealthier backgroundand the answer it appears is yes.
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