Can't get a job with your degree? Socialism won't save you.
As more and more democratic socialist candidates run for and win American elections, it’s time to take a closer look at who this rising ideology appeals to. Democratic socialists want to dramatically expand the welfare state, funded by heavier taxes on capital, and those most disaffected with capitalism are their prime targets.
Young Americans have been told their entire lives that going to college is the single most important thing they can do to improve their prospects in life. That's part of why 62% of high school graduates still go on to attend college.
Yet many of these people leave college and end up in jobs that don’t require the degree they acquired, or paid less than they expected anyway. This "underemployed" group is the one most likely to be attracted to left-wing ideologies, including socialism.
This group is looking in the wrong place for help. The underlying problems with our higher education system that are creating this situation can be fixed with free market reforms, not socialism.
America is producing too many college graduates
America is producing too many college graduates, and those who are part of the surplus are prime candidates for democratic socialism.
Up to 52% of college graduates are underemployed immediately after finishing school. Worse, even 10 years into their careers, 45% remain underemployed.
Meanwhile, the average student loan debt is $39,000 per borrower, and the average for those pursuing bachelor's degrees specifically is still more than $30,000.
That sum is manageable going into jobs that actually require a college degree, but hard to justify for the roughly half who........
