While here at the Universe, we try to keep a Janus face looking forward and backward, we are often shocked by the lack of perspective that we see in current “innovations”. Case in point, when we saw the article in quoted in Wired, about how colleges are now taking bets on the future earnings of their students to leverage their college costs against their potential earnings. In short, investors—including wealthy alumni, a hedge fund, and the Purdue Research Foundation—would front her $50,000 to cover two years of college. In exchange, she’d owe them 14.8 percent of whatever income she earned in the eight years after she graduated. “Bravo for the return to indentured servitude” our illustrious Mr Christian, cried when he heard the news, nothing the 18th century form of slavery wherein someone would work for a number of years at little or no salary for an determined period of time. While under this new system, one would only forfeit a percentage of their wages, in this case, a pittance of 14.8 %,- a bargain at twice the price! Imagine, putting your college education on your credit card- yes you get an education but at what price? How do we decide what ones potential would be? Why not have an open bidding system with the students with the most perceived potential can receive the money we think they might deserve. A sort of educational future market. We can only hope this is the death rattle of a outmoded educational system that takes all and gives little. How else can we keep the university system propped up to teach skills that are no longer needed in the coming economy? Will we need to tie students to the masts to avoid this sirens song of financial ruin or will they have awakened enough to know that what the new frontier needs is those who dance to a music being sung anew.
While driving to work the other morning and listening to Strauss Marches, I was reminded of a conversation with Richard Pearlman, a well know opera director, we were discussed an operetta I was singing at the time. I remember him saying, this is a subtle aria, you need to dig deep and mine for each small emotional change and make the most of each of these moments. With a world of information at our fingertips, perhaps like singing that operetta aria, we need to be like miners. We have a whole world of information at our fingertips and yet we are happy to feast on the low hanging fruit. We are willing to believe what ever we read and not be bothered with digging a bit deeper into the story, the claim or even the photograph. We gnash our teeth in outrage when we think that some foreign power might be influencing our elections and yet we are reticent to take on the responsibility to investigate these claims. We claim to want gold but are unwilling to dig beneath the surface seeming happy with our treasure trove of fools gold. As we have said before, media is plural but truth is singular. Let us also remember that wisdom is also plural and if we search for truth, we may gather wisdom along the way.