The book was discussed as a good way to understand the economic concept of a bubble, which the authors argue is happening with student loans in the United States.
And he says the best way to think of a bubble in financial terms is to think about a stock that people keep buying mostly because other people are buying the same thing. It's a herd movement.
— Episode: CLASSIC: The Student Loan Conspiracy
Episode: CLASSIC: The Student Loan Conspiracy
The book was discussed as a good way to understand the economic concept of a bubble, which the authors argue is happening with student loans in the United States.
And he says the best way to think of a bubble in financial terms is to think about a stock that people keep buying mostly because other people are buying the same thing. It's a herd movement.
And they said the best known examples of recent bubbles would be the mortgage crisis, the homes that people live in in the US.
And the problem here is that people say, people feel like companies like Navient and Wall Street investors and colleges and universities are accelerating this bubble because people are saying, well, college education is worth so much over the span of my life that I should go to college even if it costs twice what it did when my parents went.