Economic Blog

What ironies present themselves in reading these two articles from the Wall St Journal, and what might that say about our country, its values, and what lies ahead?

The major irony that I derived from the two articles was that while some people, like Steve Wynn, are still pumping money into these fabulous resorts while American families are trying to scrape together enough money for an education. To me, this does not really reflect poorly on America though. I think that, especially since we are a capitalistic market, it is certainly within Steve Wynn's right to continue to fund his hotels. If he loses money, it is his problem. I also think that in some sense, it reflects poorly on the college admissions process. Many people are unable to access most information about their colleges; Web sites are a myriad of information, and deciphering it is somewhat difficult. At Brophy, we are fortunate to have more intimate conversations with admissions counselors, and hear about how they plan to support us attending their school. However, someone less fortunate might not have access to this. I think that schools need to make their fiscal aid more widely recognized; schools such as the Ivy League schools have increased their funding dramatically, and many schools also practice need blind admission (financial need is not a factor in admission). As for what lies ahead, I would say that I hope that Mr. Wynn does not lose out with his hotel, and that those who are considering other options realize that financial aid is becoming more readily available.