Graduation ceremony.

فقاعة التعليم في أميركا

سان فرانسيسكو ــ يتمثل أحد المقاصد الرئيسية من الحكومة في تحسين ورفع مستوى المنافع والمصالح العامة. بيد أن السعي وراء تحقيق أهداف اجتماعية كبرى من الممكن إذا لم يتم تناوله بحرص أن يفضي إلى عواقب اقتصادية ومالية مؤسفة، بل وقد يؤدي في بعض الأحيان إلى اختلالات جهازية قد لا يقتصر ضررها على تقويض الأهداف ذاتها فحسب.

وقد حدث هذا قبل عشر سنوات في الولايات المتحدة، مع الجهود التي بذلت لتوسيع ملكية المساكن. ومؤخرا، تشهد الصين نفس الأمر، في أعقاب مبادرة لتوسيع المشاركة في سوق الأوراق المالية (البورصة). ومن الممكن أن يحدث مرة أخرى في الولايات المتحدة، ولكن هذه المرة كنتيجة لمحاولة لتحسين القدرة على الوصول إلى التمويل للتعليم العالي.

في الحالة الأولى، كانت حكومة الولايات المتحدة حريصة على دعم الجهود الرامية إلى جعل الوصول إلى قروض الرهن العقاري أيسر وأقل تكلفة، بما في ذلك إنشاء كافة أشكال أدوات الإقراض "الغريبة". وقد نجح ذلك النهج، ولكن أكثر قليلاً مما ينبغي. فقد تسبب الارتفاع الذي صاحبه في الطلب الممكن بالاستدانة في دفع أسعار العقارات إلى الارتفاع، في حين كان الاستعداد الزائد من قِبَل البنوك لتقديم القروض سبباً في دفع العديد من الناس إلى شراء مساكن تتجاوز أسعارها قدراتهم المالية. وكاد انهيار الفقاعة التي نشأت لاحقا ــ أحد أهم أسباب اندلاع الأزمة المالية العالمية عام 2008 ــ يدفع الاقتصاد العالمي إلى كساد ربما كان ليستمر لسنوات.

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