Since the 1960s Milton Friedman taught economics at the University of Chicago’s College of Economics and was even awarded a nobel prize for his theories. I highlighted in November that he was not the only one with a idea and that sometimes the wrong ideas win.
Unfortunately Friedman’s theories did win and the MBAs influenced by his teachings subsequently lead America’s companies to squeeze every legal ounce of profit out of their customers in the name of shareholder returns.
Last week according to the WIA Report, the University of Chicago announced a program that offers grants to help doctoral students pay for child care. After surveying the university’s graduate students the provost’s office discovered that more than 200 doctoral students had at least one child and many were interested in flexible part-time care.
Deborah Nelson, an associate professor of English and deputy provost for graduate education at the University of Chicago, stated, “I know first-hand that the challenges of parenting are many. It is our sincere hope that the grant pilot program will alleviate some of the financial hurdles that student parents face.”
This move is certainly a helpful one and will hopefully just a be a first step in providing more services at universities around the country as benefits such as these are used competitively in the recruitment of students.
I wonder if this program would be necessary had Friedman not been so successful at pushing his overly simple economic theories while ironically teaching at the University’s own College of Economics?
Would essential services like child care, health care, and insurance be more affordable today?
This is certainly a good step in reversing some of the damage Friedman has wreaked on America’s economy.