Reading Report 3

Student Name: Haochen Ye (Joe)
Date: 2013/11/19
Instructor’s Name: Justine Jun

* Outline
Introduction: Kids in U.S. are taught to believe the process: good at high school, then a good college, then a good job, career, which is the American dream

Main idea 1: The tuition of college is so high but there is no pay back and no job guarantee

Main idea 2: The United State government is making a college bubble that student can borrow money so easy to pay tuition. However, make the tuition even higher.

Main idea 3: Students can not pay the loan which led to bad debt and endanger all holders of U.S. dollars.

Main idea 4: College is worthless. It does not provide a higher opportunity or higher quality job.
The insanely high tuition will never appear. Another thing that will not happen without government intervention is that the notion of good college equal to good life will be much less strong because the government will not promoted. In this way, the number of college students will not be that huge and will still be valuable.
The reason why I think the government operate the education system like that is the government is in election system, which is elected by a few years performance. Because of the current election system, the government is not capable to do any long-term project, especially it will led to a temporary decrease in economy. Just like a human that will have fever when we recovering from the cold, the power of market can fix its own problem, which will led to a temporary decrease in economy, but will rebuild the balance of economy. Like the issue mentioned in the documentary, in 2008’s economic crisis, the tuition should decline just like other business. While United States government consider promoting college education is the solution the increase the employment rate, they intervene in the education business and cause the higher and higher tuition.
To sum up, government intervention may be not a wise choice for the market if it can not consider the situation in a long term.

*