Friday, December 10, 2010

Anarchy in the UK

The Sex Pistols' Version

The Students' Version

Students riot across London as Parliament votes to raise tuition fees for UK Universities from roughly $5000 per year to $14000 per year. This is still quite a bargain by American standards, though the students do not want to shoulder the burden of these cost themselves and graduate with excessive debt. This entitlement generation would rather add the costs of their education to the national deficit than their own accounts. I guess it is a sweet deal as long as it lasts. But when the government finally runs out of other people's money things can get ugly. Fits are thrown, toys are broken. Feelings of betrayal are the order of the day. Could this happen in the US? The welfare state has expanded dramatically since the early 1960s and is unsustainable. When these implicit social contracts are broken watch out. The riots will be coming to this side of the Atlantic.

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