I didn’t think it would be possible to write a book that would make me feel sympathetic to central bankers around the world, but by the end of Nomi Prin’s “Collusion”—stylized, naturally, “COLLU$ION“—I admit, she’d done it.
This was not her intention. Prin’s main charge is an attractive one: that central bankers around the world, led by the United States Federal Reserve, colluded with one another in order to enrich those who were already the very wealthiest in society. To do this, they fabricated money to be pumped into the global economy through zero or near-zero interest rates, never bothering to address the fundamental, underlying problems. Because banks have been using all of their temporary, emergency measures consistently throughout the past decade, Prin says, they’ll have no other tools available when the next crisis hits, so it will be an even larger calamity.
Continue reading “BOOK REVIEW: This is your brain on ‘Collusion’”
Continued from racism and inequality.
I think there is a misunderstanding on what the inequality with college is. It isn’t the cost. There are scholarships and people of color have easier access and thanks to affirmative action often easier standards to get in. The money isn’t the problem. The problem is affirmative action, scholarships, whatever, don’t do anything because they don’t address the problem of why they need to curve downward to increase enrollment in the first place. Which is impoverished environment. It is that they started out poor that put them behind. By the time college rolls around it is already too late. If we legit want to help poor people and minorities we need to get them out of poverty. The current system is useless.
That’s part of it, sure. We agree. And attending schools with the materials and funding to provide quality education, and being in a socio-economic life situation where you even can focus on doing homework instead of other concerns. Yeah, this is an issue that’s over-determined, absolutely.
But specifically with wealth, there are not nearly enough scholarships available that will cover the cost of tuition, books, housing, and other living expenses at a quality university. Continue reading “The model makes the minority”