EDUCATION AS LUXURY GOOD Ivy League universities are becoming in the eyes of the new Asian upper class the ultimate status luxury good. Harvard is like a Vuitton bag and a Cartier watch. It is a huge drag on the middle class, who have been plowing an increased share of their savings into educational institutions, transferring their money to bureaucrats, real estate developers, tenured professors of some discipline that would not otherwise exist (gender studies, comparative literature, or international economics), and other parasites. In the United States, we have a buildup of student loans
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