The wisest men follow their own direction.
Euripides
Factoid of the Day
From Cato Institute's Chris Edwards:
The fee [on all nuclear electric utilities by Nuclear Waste Policy Act of 1982, i.e., Yucca Mountain] currently generates about $760 million annually for the Nuclear Waste Fund, which by 2008 had accumulated a balance of $22 billion. But this fund is just an accounting entry—the utility charges have actually gone to the U.S. Treasury and been spent on other federal activities, not on the storage of nuclear waste.Hmmm. Methinks that we are talking about some kind of waste, but it's not nuclear.
The College Bubble:
George Will, "Subprime College Education": Thumbs UP!
I've written multiple posts about some of my experience as a past full-time college professor, and Mark J. Perry of Carpe Diem often posts on a variety of college related topics, including the college cost bubble, the top-heavy (administrative) layer, grade inflation, etc.
George Will has a distinctive style and always finds a way of weaving some fairly distinctive takeaways into his discussion. Here are a few that caught my eye (my edits):
- " Since 1961, the time students spend reading, writing and otherwise studying has fallen from 24 hours a week to about 15."
- "Tuitions and fees have risen more than 440 percent in 30 years as schools happily raised prices — and lowered standards — to siphon up federal money."
- "As many people — perhaps more — have student loan debts as have college degrees. Twenty-nine percent of borrowers never graduate."
- "In 2009 the base salary of UC Berkeley’s vice chancellor for equity and inclusion was $194,000, almost four times that of starting assistant professors. And by 2006, academic administrators outnumbered faculty."
- "In 2010, the New York Times reported on Cortney Munna, then 26, a New York University graduate with almost $100,000 in debt. Her degree is in religious and women’s studies. [Her job:] $2,300 monthly after-tax income as a photographer’s assistant. [Loan payment:] $700 monthly."
I have ZERO patience or tolerance for politically correct, intellectually pretentious, vapid propaganda masquerading as a respectable, "legitimate" academic discipline, i.e., diversity, ethnic/women's studies, inclusion, and other assorted academic claptrap. [If there is any legitimate research in these areas, they should be special-interest topics in a more comprehensive reference discipline like sociology and history.] George Will touches a raw nerve when he talks about colleges eliminating programs in engineering and European literature to make room for pseudo-sciences, and doing away with mainstream requirements to make way for some pushing-on-a-string elitist-prescribed vacuous self-esteem course (as if pervasive progressive groupthink isn't enough!)
This is the same-old, same-old nonsense. In the description for my blog, I told about things like flattened structures; I've preached against top-heavy school administrations. This is not the 1960's when students of color were denied permission to state universities. The US is a different place: for example, in 2010, three former female CEO's ran for governor or the US Senate as Republicans. Why in the world are universities sinking this kind of money and personnel into an already-decided issue?
I think, like all bubbles, the college bubble is going to end badly. I don't know any private sector banker whom would think it's a good idea to loan $100K for education in a field with dubious employment prospects, like religious and women's studies. I suspect that information technology will revolutionize the college experience, as it has already started with online courses unavailable when I taught; for example, there could be virtual, extensible classrooms, cross-university class enrollments, and small university departments could store past class lectures for self-directed classes or when class enrollments are insufficient. We could see alternate approaches like universities partnering with community colleges, residency periods at the end of a degree program, etc.
All of this is speculative, of course, but one thing I'm certain of: the federal government cannot afford to prop up the status quo. It is unsustainable. Plus, watered-down degree programs fool no one.
Hey, Mr. Congressman:
Take a Stand for Liberty
Then on Election Day Morning
I'll Come Voting for You
Kudos to Tom McClintock (R-CA) (yes, there are conservatives in the People's Republic of California; they are protected by the Endangered Species Act). Congressman McClintock proposed a number of amendments to strip various funding for energy industry or program subsidies (over $2B across multiple amendments-even the granddaddy program sponsoring Solyndra!), and over 100 Republicans joined the opposition in defeating the cuts.
The Unintended Consequences of
Politically Correct Labor Laws
From the Gray Lady (my edit):
The sheriff arrived at the factory here to shut it down, part of a national enforcement drive against clothing manufacturers who violate the minimum wage. But women working on the factory floor — the supposed beneficiaries of the crackdown — clambered atop cutting tables and ironing boards to raise anguished cries against it. “Why? Why?” shouted Nokuthula Masango, 25. She made just $36 a week, $21 less than the minimum wage, but needed the meager pay to help support a large extended family that includes her five unemployed siblings and their children. The women feared being out of work more than getting stuck in poorly paid jobs. Over a third of South Africa’s workforce is now idle. [Because of global competition], the number of garment workers employed in South Africa has plummeted to 60,000 from 150,000 in 1996. If the more than 300 factories violating minimum wages ultimately close down, 20,000 more jobs could vanish.I think that many progressive critics engage in perceptual bias using our cultural expectations, our cost of living and labor standards. Personally, I would not like to work in a sweatshop. But what is clear here is that for these women, this was the best option to earn the most wages. The opportunities at the given minimum wage are already oversubscribed; the minimum wage is just an arbitrary number. The law of supply and demand works: at a lower wage, more labor hours are available. These ladies don't need some progressive knight in shining armor saving them from the world of consensual employment, just like some liberating army destroying a village to save it.
Musical Interlude: My Favorite Groups
Tom Petty & the Heartbreakers (with Stevie Nicks), "Needles and Pins". Remakes are interesting--most barely hit the charts. Johnny Rivers made a living out of it; Linda Ronstadt consistently did it in the later 70's. Céline Dion has done it (e.g., "The Power of Love" and "If You Asked Me To"), Whitney Houston did it at least 3 times ("The Greatest Love of All", "The Star-Spangled Banner", and "I Will Always Love You"). A Sonny Bono co-authored classic for the Searchers (Jackie DeShannon did an earlier hit version that didn't chart well but is amazing); I think I also heard a killer version in the late 1970's, but I don't recall the artist. Tom Petty proves that he can put his own brilliant mark on someone else's material--and what can I say about Stevie Nicks? "Rhiannon", "Gypsy", and "Leather and Lace"?
My personal favorite remakes? I love the originals, but I think the remakes bring the respective songs to a whole new level: Dave Mason's "Will You Still Love Me Tomorrow?", the Hollies' "Stop! In the Name of Love", Dan Fogelberg, "The Rhythm of the Rain", Simon, Garfunkel and Taylor's "What a Wonderful World", and Johnny Rivers' "Baby, I Need Your Loving".
