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Culture War Roundup for the week of August 14, 2023

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A parent is the trustee/owner of his child. Therefore, he is empowered to sell to the kindergarten a share of that trusteeship/ownership.

In the unlikely event that the child disavows the contract with the kindergarten when the trusteeship is terminated (whether at adulthood or at some earlier date), the parent is obligated by the same contract to repay to the kindergarten the lost expected value of the child's future earnings.

If the child can disavow the contract before they ever have to pay it never meaningfully existed. This is just the parents taking out a loan and hoping the child will eventually help them pay it back

That just ends up becoming parental debt. What person at 18 years old isn’t going to repudiated the debt on the grounds they didn’t consent?

And the entire point of the income share program is to get around the parents not having the money. So the debt going back to the parent has a value of zero.

We’ve known for a while that income share programs don’t work in practice because of negative selection effects. Engineers and financially stable don’t take them.