Has anyone noticed that Marco Rubio proposed reinstituting slavery? Those weren’t the exact words he used. However, the result has an eerie resemblance to the economics of slavery. His New Age Slavery is a market-based solution that addresses the problem of student loans.
Let’s say you are a student who needs $10,000 to pay for your last year of school. Instead of taking this money out in the form of a loan, you could apply for a “Student Investment Plan” from an approved and certified private investment group. In short, these investors would pay your $10,000 tuition in return for a percentage of your income for a set period of time after graduation – let’s say, for example, 4% a year for 10 years. Rubio Proposes Ideas For Higher Education Reform At Miami-Dade College
This is, in updated form, the economic logic of slavery. Human beings are investment vehicles, and investors expect to make money. In the case of slavery, nearly any horror could be justified in the name of recouping one’s investment and assuring a steady flow of profits. It is certainly not hard to imagine a time in the future when the laws governing this new type of investment are modified to the benefit of the investor and the detriment of the student.
(Related Post: The End of Slavery)by