Comments on A Typical Blog: Academic egalitarianism

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2005-11-11T20:29:00.000-08:00

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2005-11-11T15:37:00.000-08:00

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Dear A Typical BloggerStrange devices these comput...

2005-11-09T16:43:00.000-08:00

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2005-11-03T03:57:00.000-08:00

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2005-10-26T03:24:00.000-07:00

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2005-10-25T05:59:00.000-07:00

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Interesting comments, let me respond.It is true th...

2005-08-22T22:53:00.000-07:00

Interesting comments, let me respond.

It is true that the signaling function of income -- telling the person what to do -- would be destroyed through redistribution, just like giving poor people better grades might destroy their incentives to work hard. In that respect, the two are indeed similar. My point was that these liberal professors presumably want to help the poor students, but under a system of redistributing grades the poor students wouldn't be helped by their meaningless As. Meanwhile, in a system of income redistribution, poor people are helped by the additional income. That is a clear distinction.

As for grades being a result of luck, I never said that luck didn't affect grades, only that it seems to affect them less than income and wealth.

In general, I follow the Hayekian line that it is very ill-advised for conservatives and libertarians to base their defense of free markets on the notion that rich people deserve what they have; I do, however, think that students tend to deserve the grades that they get.

I disagree on every point, but I think you get it ...

2005-08-20T07:16:00.000-07:00

I disagree on every point, but I think you get it particularly wrong on #3:

Equalizing grades would absolutely destroy their value, Everyone, especially Mr. Caplan himself, would agree.

However, when you say "Unlike with income", you are dead wrong. The *exact* same thing happens with income.

As you redistribute and equalize income, you reduce the rewards, incentives, and motivation for people and businesses to be more successful and productive.

On point #2: Income is a more basic necessity in today's society than academic achievement and prestige. However, once people have satisfied basic income needs, most people value prestige and rank more than income. To say one is more important than the other isn't really accurate.

I think you're wrong on several counts. First of ...

2005-08-19T04:41:00.000-07:00

I think you're wrong on several counts. First of all, in some objective sense, even merit is a matter of luck; you hit the Pick 6 in the parental lottery, giving you hte genetic and environmental legacy that made you hardworking, smart, etc. The fact that academic success is so unevenly distributed among the privileged indicates that there is more at work than merit.

Second of all, to an economist, wages, like college degrees, are a signal. They have value because they help society function efficiently. THe value of the wage/price signal is destroyed by redistribution, just as the value of the college education signal is destroyed by redistribution. They're not really very different.