I agree that the situation with (most) college graduates is very similar to indentured servitude. The difference, though, would be that college graduates have a great deal of choice over what kind of work they do and for whom they work in contrast to indentured servants. I was going to say that they might also have an opportunity to save some money, but I'm not sure how true that is anymore.
Like almost all nations that are poor, Uzbekistan fails because its people operate under extractive economic institutions, which provide few incentives for investment or technological ingenuity, and force people to engage in activities that they do not wish or are not well-suited to (such as farmers being forced to grow crops that they don’t want and children being forced to pick cotton rather than learn in school).
This is more or less the British plan for the post-recession economy - only in a first-world country. Not quite as primitive obviously, but yes, they want the poor stacking shelves in supermarkets in return for welfare payments (which will be replaced by food stamps as soon as they get rid of those pesky Truck Acts). They want everyone else mortgaged to the hilt and stuck in dead end, shitty jobs. The minimum wage is increasingly seen by our elites not as a floor, but a ceiling - check this story out to see their thinking on this
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I agree that the situation with (most) college graduates is very similar to indentured servitude. The difference, though, would be that college graduates have a great deal of choice over what kind of work they do and for whom they work in contrast to indentured servants. I was going to say that they might also have an opportunity to save some money, but I'm not sure how true that is anymore.
Reply
This is more or less the British plan for the post-recession economy - only in a first-world country. Not quite as primitive obviously, but yes, they want the poor stacking shelves in supermarkets in return for welfare payments (which will be replaced by food stamps as soon as they get rid of those pesky Truck Acts). They want everyone else mortgaged to the hilt and stuck in dead end, shitty jobs. The minimum wage is increasingly seen by our elites not as a floor, but a ceiling - check this story out to see their thinking on this ( ... )
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