On their current course, South Korea and Indonesia will be  considered 1st world countries thanks to Capitalism, and Socialism is theft, no matter how you spin it or what modifier you put in front of it.
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Job opportunities are not "dismal," and no one is forcing anyone to either go to college or take out loans to do so.  I pay 0.00 to attend UAA if I graduate in the top 10% of my class, and I cover its cost in one summer of work.