Tuesday, March 8, 2011

What comes after the Blue Social Model

Walter Russell Mead takes on Paul Krugman, showing where the Nobel-prize winner is both right and wrong about the future of higher education and the professions.

Mead quoting Oliver Wendall Holmes,

"How it went to pieces all at once,
All at once, and nothing first,
Just as bubbles do when they burst."


But all is not doom and gloom with Mead, he also hints at where we could be headed,

"But this process of creative destruction is not a Scrooge-like endeavor to squeeze the honest workers for the benefit of fat cats.  It is clearing the field for new enterprises and new professions.  If education, government and other important services become cheaper and better in quality, and as inflation in other sectors like health care is better controlled, it will be easier and cheaper than ever to start new businesses."

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