WillieTheSimp on Nostr: I am rapidly becoming Peter Turchin pilled. In essence, over-education leads to an ...

I am rapidly becoming Peter Turchin pilled.

In essence, over-education leads to an abundance of credentialed people. This over-competition for elite positions in society tends to alienate people into extreme political factions. Combine with modern monetary theory, and you have a system that stratifies society into haves and have-nots (see https://wtfhappenedin1971.com/). This sets up society for a major crisis, whether it's a violent civil war or a largely peaceful political revolution is unknowable ahead of time. But the combination of educated people not doing anything and an undervalued and angry lower class usually doesn't end well.

Maybe crypto saves us by providing a system that doesn't serve as a wealth pump, and over time the pricing pressures on higher ed will force them to adapt to the real demand for elites.

Or maybe this guy is a crackpot. His theory apparently is developed through analyzing historical economic data. Not sure how accurate the analysis of this stuff could possibly be, but the emergence of this pattern is quite interesting. It could be wrong, but I find that this theory makes a lot of sense.