Tag Archive: billionaires

Reformy Billionaires and the Money They Waste

Cross-posted from Jersey Jazzman.

Perhaps my favorite bad reformy argument — one favored by Tom Moran, among others — goes something like this:

We should listen to billionaires when they opine about education because:

1) Well, they’re billionaires, so they must know what they’re talking about.

2) They don’t have a direct stake in the outcome, so you can trust them.

I often harp on the absurdity of Point #2: even though a plutocrat may not have a direct stake in making public education more like corporate American, their reformy crusades certainly match their ideological predilections. And ancillary benefits like New Markets Tax Credits and union busting are happy little bonuses.

But I don’t often talk about Point #1. Watching the implosion of the Common Core is a great example: Bill Gates poured millions into its development and marketing, but it’s clear he really didn’t understand what he was getting himself into. I don’t think anyone, if they are being honest with themselves (and that includes Bill), would think that Gates is any sort of an expert in any field of education.  

NJ Nets & NBA: Dysfunction and Excess Among the 1%

Not a pretty picture: Millionaire players and mega millionaire owners duke it out over money while the rest of us who enjoy professional basketball are relegated to dark screens and closed arenas. What with the high ticket costs and concession prices, attending this sport, as with football and hockey, is becoming increasingly an event for the wealthy.  Exhibition games were supposed to have begun this month, but as of now the season has been cancelled through the end of november.

Wealthy players and owners are arguing over how to divide up the revenue and whether to lower salary caps.  In fact the sport has become more about money than the game, driving away fans of modest means, particular in low income cities like Newark where people love basketball but watch it on TV if they can afford their cable bills.

The solution is to reduce player salaries and owner profits so that tickets become more affordable. What a novel idea!  So great an idea that undoubtedly the 1% nationally will reduce their own exorbitant salaries and excessive profits.  A  nice thought for a snowy Saturday when electric power just went off.