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Javier E

How to Raise a University's Profile: Pricing and Packaging - NYTimes.com - 0 views

  • I talked to a half-dozen of Hugh Moren’s fellow students. A highly indebted senior who was terrified of the weak job market described George Washington, where he had invested considerable time getting and doing internships, as “the world’s most expensive trade school.” Another mentioned the abundance of rich students whose parents were giving them a fancy-sounding diploma the way they might a new car. There are serious students here, he acknowledged, but: “You can go to G.W. and essentially buy a degree.”
  • A recent study from the Organization for Economic Cooperation and Development found that, on average, American college graduates score well below college graduates from most other industrialized countries in mathematics. In literacy (“understanding, evaluating, using and engaging with written text”), scores are just average. This comes on the heels of Richard Arum and Josipa Roksa’s “Academically Adrift,” a study that found “limited or no learning” among many college students.Instead of focusing on undergraduate learning, nu
  • colleges have been engaged in the kind of building spree I saw at George Washington. Recreation centers with world-class workout facilities and lazy rivers rise out of construction pits even as students and parents are handed staggeringly large tuition bills. Colleges compete to hire famous professors even as undergraduates wander through academic programs that often lack rigor or coherence. Campuses vie to become the next Harvard — or at least the next George Washington — while ignoring the growing cost and suspect quality of undergraduate education.
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  • Mr. Trachtenberg understood the centrality of the university as a physical place. New structures were a visceral sign of progress. They told visitors, donors and civic leaders that the institution was, like beams and scaffolding rising from the earth, ascending. He added new programs, recruited more students, and followed the dictate of constant expansion.
  • the American research university had evolved into a complicated and somewhat peculiar organization. It was built to be all things to all people: to teach undergraduates, produce knowledge, socialize young men and women, train workers for jobs, anchor local economies, even put on weekend sports events. And excellence was defined by similarity to old, elite institutions. Universities were judged by the quality of their scholars, the size of their endowments, the beauty of their buildings and the test scores of their incoming students.
  • John Silber embarked on a huge building campaign while bringing luminaries like Saul Bellow and Elie Wiesel on board to teach and lend their prestige to the B.U. name, creating a bigger, more famous and much more costly institution. He had helped write a game plan for the aspiring college president.
  • GWU is, for all intents and purposes, a for-profit organization. Best example: study abroad. Their top program, a partnering with Sciences Po, costs each student (30 of them, on a program with 'prestige' status?) a full semester's tuition. It costs GW, according to Sciences Po website, €1000. A neat $20,000 profit per student (who is in digging her/himself deeper and deeper in debt.) Moreover, the school takes a $500 admin fee for the study abroad application! With no guarantee that all credits transfer. Students often lose a partial semester, GW profits again. Nor does GW offer help with an antiquated, one-shot/no transfers, tricky registration process. It's tough luck in gay Paris.Just one of many examples. Dorms with extreme mold, off-campus housing impossible for freshmen and sophomores. Required meal plan: Chick-o-Filet etc. Classes with over 300 students (required).This is not Harvard, but costs same.Emotional problems? Counselors too few. Suicides continue and are not appropriately addressed. Caring environment? Extension so and so, please hold.It's an impressive campus, I'm an alum. If you apply, make sure the DC experience is worth the price: good are internships, a few colleges like Elliot School, post-grad.GWU uses undergrad $$ directly for building projects, like the medical center to which students have NO access. (Student health facility is underfunded, outsourced.)Outstanding professors still make a difference. But is that enough?
  • Mr. Trachtenberg, however, understood something crucial about the modern university. It had come to inhabit a market for luxury goods. People don’t buy Gucci bags merely for their beauty and functionality. They buy them because other people will know they can afford the price of purchase. The great virtue of a luxury good, from the manufacturer’s standpoint, isn’t just that people will pay extra money for the feeling associated with a name brand. It’s that the high price is, in and of itself, a crucial part of what people are buying.
  • Mr. Trachtenberg convinced people that George Washington was worth a lot more money by charging a lot more money. Unlike most college presidents, he was surprisingly candid about his strategy. College is like vodka, he liked to explain.
  • The Absolut Rolex plan worked. The number of applicants surged from some 6,000 to 20,000, the average SAT score of students rose by nearly 200 points, and the endowment jumped from $200 million to almost $1 billion.
  • The university became a magnet for the children of new money who didn’t quite have the SATs or family connections required for admission to Stanford or Yale. It also aggressively recruited international students, rich families from Asia and the Middle East who believed, as nearly everyone did, that American universities were the best in the world.
  • U.S. News & World Report now ranks the university at No. 54 nationwide, just outside the “first tier.”
  • The watch and vodka analogies are correct. Personally, I used car analogies when discussing college choices with my kids. We were in the fortunate position of being able to comfortably send our kids to any college in the country and have them leave debt free. Notwithstanding, I told them that they would be going to a state school unless they were able to get into one of about 40 schools that I felt, in whatever arbitrary manner I decided, that was worth the extra cost. They both ended up going to state schools.College is by and large a commodity and you get out of it what you put into it. Both of my kids worked hard in college and were involved in school life. They both left the schools better people and the schools better schools for them being there. They are both now successful adults.I believe too many people look for the prestige of a named school and that is not what college should be primarily about.
  • In 2013, only 14 percent of the university’s 10,000 undergraduates received a grant — a figure on a par with elite schools but far below the national average. The average undergraduate borrower leaves with about $30,800 in debt.
  • When I talk to the best high school students in my state I always stress the benefits of the honors college experience at an affordable public university. For students who won't qualify for a public honors college. the regular pubic university experience is far preferable to the huge debt of places like GW.
  • Carey would do well to look beyond high ticket private universities (which after all are still private enterprises) and what he describes as the Olympian heights of higher education (which for some reason seems also to embitter him) and look at the system overall . The withdrawal of public support was never a policy choice; it was a political choice, "packaged and branded" as some tax cutting palaver all wrapped up in the argument that a free-market should decide how much college should cost and how many seats we need. In such an environment, trustees at private universities are no more solely responsible for turning their degrees into commodities than the administrations of state universities are for raising the number of out-of-state students in order to offset the loss of support from their legislatures. No doubt, we will hear more about market based solutions and technology from Mr. Carey
  • I went to GW back in the 60s. It was affordable and it got me away from home in New York. While I was there, Newsweek famously published a article about the DC Universities - GW, Georgetown, American and Catholic - dubbing them the Pony league, the schools for the children of wealthy middle class New Yorkers who couldn't get into the Ivy League. Nobody really complained. But that wasn't me. I went because I wanted to be where the action was in the 60s, and as we used to say - "GW was literally a stone's throw from the White House. And we could prove it." Back then, the two biggest alumni names were Jackie Kennedy, who's taken some classes there, and J. Edgar Hoover. Now, according to the glossy magazine they send me each month, it's the actress Kerry Washington. There's some sort of progress there, but I'm a GW alum and not properly trained to understand it.
  • This explains a lot of the modern, emerging mentality. It encompasses the culture of enforced grade inflation, cheating and anti-intellectualism in much of higher education. It is consistent with our culture of misleading statistics and information, cronyism and fake quality, the "best and the brightest" being only schemers and glad handers. The wisdom and creativity engendered by an honest, rigorous academic education are replaced by the disingenuous quick fix, the winner-take-all mentality that neglects the common good.
  • I attended nearby Georgetown University and graduated in 1985. Relative to state schools and elite schools, it was expensive then. I took out loans. I had Pell grants. I had work-study and GSL. I paid my debt of $15,000 off in ten years. Would I have done it differently? Yes: I would have continued on to graduate school and not worried about paying off those big loans right after college. My career work out and I am grateful for the education I received and paid for. But I would not recommend to my nieces and nephews debts north of $100,000 for a BA in liberal arts. Go community. Then go state. Then punch your ticket to Harvard, Yale or Stanford — if you are good enough.
  • American universities appear to have more and more drifted away from educating individuals and citizens to becoming high priced trade schools and purveyors of occupational licenses. Lost in the process is the concept of expanding a student's ability to appreciate broadly and deeply, as well as the belief that a republican democracy needs an educated citizenry, not a trained citizenry, to function well.Both the Heisman Trophy winner and the producer of a successful tech I.P.O. likely have much in common, a college education whose rewards are limited to the financial. I don't know if I find this more sad on the individual level or more worrisome for the future of America.
  • This is now a consumer world for everything, including institutions once thought to float above the Shakespearean briars of the work-a-day world such as higher education, law and medicine. Students get this. Parents get this. Everything is negotiable: financial aid, a spot in the nicest dorm, tix to the big game. But through all this, there are faculty - lots of 'em - who work away from the fluff to link the ambitions of the students with the reality and rigor of the 21st century. The job of the student is to get beyond the visible hype of the surroundings and find those faculty members. They will make sure your investment is worth it
  • My experience in managing or working with GW alumni in their 20's or 30's has not been good. Virtually all have been mentally lazy and/or had a stunning sense of entitlement. Basically they've been all talk and no results. That's been quite a contrast to the graduates from VA/MD state universities.
  • More and more, I notice what my debt-financed contributions to the revenue streams of my vendors earn them, not me. My banks earned enough to pay ridiculous bonuses to employees for reckless risk-taking. My satellite tv operator earned enough to overpay ESPN for sports programming that I never watch--and that, in turn, overpays these idiotic pro athletes and college sports administrators. My health insurer earned enough to defeat one-payor insurance; to enable the opaque, inefficient billing practices of hospitals and other providers; and to feed the behemoth pharmaceutical industry. My church earned enough to buy the silence of sex abuse victims and oppose progressive political candidates. And my govt earned enough to continue ag subsidies, inefficient defense spending, and obsolete transportation and energy policies.
  • as the parent of GWU freshman I am grateful for every opportunity afforded her. She has a generous merit scholarship, is in the honors program with some small classes, and has access to internships that can be done while at school. GWU also gave her AP credits to advance her to sophomore status. Had she attended the state flagship school (where she was accepted into that exclusive honors program) she would have a great education but little else. It's not possible to do foreign affairs related internship far from D.C. or Manhattan. She went to a very competitive high school where for the one or two ivy league schools in which she was interested, she didn't have the same level of connections or wealth as many of her peers. Whether because of the Common Application or other factors, getting into a good school with financial help is difficult for a middle class student like my daughter who had a 4.0 GPA and 2300 on the SAT. She also worked after school.The bottom line - GWU offered more money than perceived "higher tier" universities, and brought tuition to almost that of our state school system. And by the way, I think she is also getting a very good education.
  • This article reinforces something I have learned during my daughter's college application process. Most students choose a school based on emotion (reputation) and not value. This luxury good analogy holds up.
  • The entire education problem can be solved by MOOCs lots and lots of them plus a few closely monitored tests and personal interviews with people. Of course many many people make MONEY off of our entirely inefficient way of "educating" -- are we even really doing that -- getting a degree does NOT mean one is actually educated
  • As a first-generation college graduate I entered GW ambitious but left saddled with debt, and crestfallen at the hard-hitting realization that my four undergraduate years were an aberration from what life is actually like post-college: not as simple as getting an [unpaid] internship with a fancy titled institution, as most Colonials do. I knew how to get in to college, but what do you do after the recess of life ends?I learned more about networking, resume plumping (designated responses to constituents...errr....replied to emails), and elevator pitches than actual theory, economic principles, strong writing skills, critical thinking, analysis, and philosophy. While relatively easy to get a job after graduating (for many with a GW degree this is sadly not the case) sustaining one and excelling in it is much harder. It's never enough just to be able to open a new door, you also need to be prepared to navigate your way through that next opportunity.
  • this is a very telling article. Aimless and directionless high school graduates are matched only by aimless and directionless institutes of higher learning. Each child and each parent should start with a goal - before handing over their hard earned tuition dollars, and/or leaving a trail of broken debt in the aftermath of a substandard, unfocused education.
  • it is no longer the most expensive university in America. It is the 46th.Others have been implementing the Absolut Rolex Plan. John Sexton turned New York University into a global higher-education player by selling the dream of downtown living to students raised on “Sex and the City.” Northeastern followed Boston University up the ladder. Under Steven B. Sample, the University of Southern California became a U.S. News top-25 university. Washington University in St. Louis did the same.
  • I currently attend GW, and I have to say, this article completely misrepresents the situation. I have yet to meet a single person who is paying the full $60k tuition - I myself am paying $30k, because the school gave me $30k in grants. As for the quality of education, Foreign Policy rated GW the #8 best school in the world for undergraduate education in international affairs, Princeton Review ranks it as one of the best schools for political science, and U.S. News ranks the law school #20. The author also ignores the role that an expanding research profile plays in growing a university's prestige and educational power.
  • And in hundreds of regional universities and community colleges, presidents and deans and department chairmen have watched this spectacle of ascension and said to themselves, “That could be me.” Agricultural schools and technical institutes are lobbying state legislatures for tuition increases and Ph.D. programs, fitness centers and arenas for sport. Presidents and boards are drawing up plans to raise tuition, recruit “better” students and add academic programs. They all want to go in one direction — up! — and they are all moving with a single vision of what they want to be.
  • this is the same playbook used by hospitals the past 30 years or so. It is how Hackensack Hospital became Hackensack Medical Center and McComb Hospital became Southwest Mississippi Regional Medical Center. No wonder the results have been the same in healthcare and higher education; both have priced themselves out of reach for average Americans.
  • a world where a college is rated not by the quality of its output, but instaed, by the quality of its inputs. A world where there is practically no work to be done by the administration because the college's reputation is made before the first class even begins! This is isanity! But this is the swill that the mammoth college marketing departments nationwide have shoved down America's throat. Colleges are ranked not by the quality of their graduates, but rather, by the test scores of their incoming students!
  • The Pew Foundation has been doing surveys on what students learn, how much homework they do, how much time they spend with professors etc. All good stuff to know before a student chooses a school. It is called the National Survey of Student Engagement (NSSE - called Nessy). It turns out that the higher ranked schools do NOT allow their information to be released to the public. It is SECRET.Why do you think that is?
  • The article blames "the standard university organizational model left teaching responsibilities to autonomous academic departments and individual faculty members, each of which taught and tested in its own way." This is the view of someone who has never taught at a university, nor thought much about how education there actually happens. Once undergraduates get beyond the general requirements, their educations _have_ to depend on "autonomous departments" because it's only those departments know what the requirements for given degree can be, and can grant the necessary accreditation of a given student. The idea that some administrator could know what's necessary for degrees in everything from engineering to fiction writing is nonsense, except that's what the people who only know the theory of education (but not its practice) actually seem to think. In the classroom itself, you have tremendously talented people, who nevertheless have their own particular strengths and approaches. Don't you think it's a good idea to let them do what they do best rather than trying to make everyone teach the same way? Don't you think supervision of young teachers by older colleagues, who actually know their field and its pedagogy, rather than some administrator, who knows nothing of the subject, is a good idea?
  • it makes me very sad to see how expensive some public schools have become. Used to be you could work your way through a public school without loans, but not any more. Like you, I had the advantage of a largely-scholarship paid undergraduate education at a top private college. However, I was also offered a virtually free spot in my state university's (then new) honors college
  • My daughter attended a good community college for a couple of classes during her senior year of high school and I could immediately see how such places are laboratories for failure. They seem like high schools in atmosphere and appearance. Students rush in by car and rush out again when the class is over.The four year residency college creates a completely different feel. On arrival, you get the sense that you are engaging in something important, something apart and one that will require your full attention. I don't say this is for everyone or that the model is not flawed in some ways (students actually only spend 2 1/2 yrs. on campus to get the four yr. degree). College is supposed to be a 60 hour per week job. Anything less than that and the student is seeking himself or herself
  • This. Is. STUNNING. I have always wondered, especially as my kids have approached college age, why American colleges have felt justified in raising tuition at a rate that has well exceeded inflation, year after year after year. (Nobody needs a dorm with luxury suites and a lazy river pool at college!) And as it turns out, they did it to become luxury brands. Just that simple. Incredible.I don't even blame this guy at GWU for doing what he did. He wasn't made responsible for all of American higher ed. But I do think we all need to realize what happened, and why. This is front page stuff.
  • I agree with you, but, unfortunately, given the choice between low tuition, primitive dorms, and no athletic center VS expensive & luxurious, the customers (and their parents) are choosing the latter. As long as this is the case, there is little incentive to provide bare-bones and cheap education.
  • Wesleyan University in CT is one school that is moving down the rankings. Syracuse University is another. Reed College is a third. Why? Because these schools try hard to stay out of the marketing game. (With its new president, Syracuse has jumped back into the game.) Bryn Mawr College, outside Philadelphia hasn't fared well over the past few decades in the rankings, which is true of practically every women's college. Wellesley is by far the highest ranked women's college, but even there the acceptance rate is significantly higher than one finds at comparable coed liberal arts colleges like Amherst & Williams. University of Chicago is another fascinating case for Mr. Carey to study (I'm sure he does in his forthcoming book, which I look forward to reading). Although it has always enjoyed an illustrious academic reputation, until recently Chicago's undergraduate reputation paled in comparison to peer institutions on the two coasts. A few years ago, Chicago changed its game plan to more closely resemble Harvard and Stanford in undergraduate amenities, and lo and behold, its rankings shot up. It was a very cynical move on the president's part to reassemble the football team, but it was a shrewd move because athletics draw more money than academics ever can (except at engineering schools like Cal Tech & MIT), and more money draws richer students from fancier secondary schools with higher test scores, which lead to higher rankings - and the beat goes on.
  • College INDUSTRY is out of control. Sorry, NYU, GW, BU are not worth the price. Are state schools any better? We have the University of Michigan, which is really not a state school, but a university that gives a discount to people who live in Michigan. Why? When you have an undergraduate body 40+% out-of-state that pays tuition of over $50K/year, you tell me?Perhaps the solution is two years of community college followed by two at places like U of M or Michigan State - get the same diploma at the end for much less and beat the system.
  • In one recent yr., the majority of undergrad professors at Harvard, according to Boston.com, where adjuncts. That means low pay, no benefits, no office, temp workers. Harvard.Easily available student loans fueled this arms race of amenities and frills that in which colleges now engage. They moved the cost of education onto the backs of people, kids, who don't understand what they are doing.Students in colleges these days are customers and the customers must be able to get through. If it requires dumbing things down, so be it. On top of tuition, G.W. U. is known by its students as the land of added fees on top of added fees. The joke around campus was that they would soon be installing pay toilets in the student union. No one was laughing.
  • You could written the same story about my alma mater, American University. The place reeked of ambition and upward mobility decades ago and still does. Whoever's running it now must look at its measly half-billion-dollar endowment and compare it to GWU's $1.5 billion and seethe with envy, while GWU's president sets his sights on an Ivy League-size endowment. And both get back to their real jobs: 24/7 fundraising,Which is what university presidents are all about these days. Money - including million-dollar salaries for themselves (GWU's president made more than Harvard's in 2011) - pride, cachet, power, a mansion, first-class all the way. They should just be honest about it and change their university's motto to Ostende mihi pecuniam! (please excuse my questionable Latin)Whether the students are actually learning anything is up to them, I guess - if they do, it's thanks to the professors, adjuncts and the administrative staff, who do the actual work of educating and keep the school running.
  • When I was in HS (70s), many of my richer friends went to GW and I was then of the impression that GW was a 'good' school. As I age, I have come to realize that this place is just another façade to the emptiness that has become America. All too often are we faced with a dilemma: damned if we do, damned if we don't. Yep, 'education' has become a trap for all too many of our citizen.
  • I transferred to GWU from a state school. I am forever grateful that I did. I wanted to get a good rigorous education and go to one of the best International Affairs schools in the world. Even though the state school I went to was dirt-cheap, the education and the faculty was awful. I transferred to GW and was amazed at the professors at that university. An ambassador or a prominent IA scholar taught every class. GW is an expensive school, but that is the free market. If you want a good education you need to be willing to pay for it or join the military. I did the latter and my school was completely free with no debt and I received an amazing education. If young people aren't willing to make some sort of sacrifice to get ahead or just expect everything to be given to then our country is in a sad state.We need to stop blaming universities like GWU that strive to attract better students, better professors, and better infrastructure. They are doing what is expected in America, to better oneself.
  • "Whether the students are actually learning anything is up to them, I guess." How could it possibly be otherwise??? I am glad that you are willing to give credit to teachers and administrators, but it is not they who "do the actual work of educating." From this fallacy comes its corollary, that we should blame teachers first for "under-performing schools". This long-running show of scapegoating may suit the wallets and vanity of American parents, but it is utterly senseless. When, if ever, American culture stops reeking of arrogance, greed and anti-intellectualism, things may improve, and we may resume the habit of bothering to learn. Until then, nothing doing.
  • Universities sell knowledge and grade students on how much they have learned. Fundamentally, there is conflict of interest in thsi setup. Moreover, students who are poorly educated, even if they know this, will not criticize their school, because doing so would make it harder for them to have a career. As such, many problems with higher education remain unexposed to the public.
  • I've lectured and taught in at least five different countries in three continents and the shortest perusal of what goes on abroad would totally undermine most of these speculations. For one thing American universities are unique in their dedication to a broad based liberal arts type education. In France, Italy or Germany, for example, you select a major like mathematics or physics and then in your four years you will not take even one course in another subject. The amount of work that you do that is critically evaluated by an instructor is a tiny fraction of what is done in an American University. While half educated critics based on profoundly incomplete research write criticism like this Universities in Germany Italy, the Netherlands, South Korea and Japan as well as France have appointed committees and made studies to explain why the American system of higher education so drastically outperforms their own system. Elsewhere students do get a rather nice dose of general education but it ends in secondary school and it has the narrowness and formulaic quality that we would just normally associate with that. The character who wrote this article probably never set foot on a "campus" of the University of Paris or Rome
  • The university is part of a complex economic system and it is responding to the demands of that system. For example, students and parents choose universities that have beautiful campuses and buildings. So universities build beautiful campuses. State support of universities has greatly declined, and this decline in funding is the greatest cause of increased tuition. Therefore universities must compete for dollars and must build to attract students and parents. Also, universities are not ranked based on how they educate students -- that's difficult to measure so it is not measured. Instead universities are ranked on research publications. So while universities certainly put much effort into teaching, research has to have a priority in order for the university to survive. Also universities do not force students and parents to attend high price institutions. Reasonably priced state institutions and community colleges are available to every student. Community colleges have an advantage because they are funded by property taxes. Finally learning requires good teaching, but it also requires students that come to the university funded, prepared, and engaged. This often does not happen. Conclusion- universities have to participate in profile raising actions in order to survive. The day that funding is provided for college, ranking is based on education, and students choose campuses with simple buildings, then things will change at the university.
  • This is the inevitable result of privatizing higher education. In the not-so-distant past, we paid for great state universities through our taxes, not tuition. Then, the states shifted funding to prisons and the Federal government radically cut research support and the GI bill. Instead, today we expect universities to support themselves through tuition, and to the extent that we offered students support, it is through non-dischargeable loans. To make matters worse, the interest rates on those loans are far above the government's cost of funds -- so in effect the loans are an excise tax on education (most of which is used to support a handful of for-profit institutions that account for the most student defaults). This "consumer sovereignty" privatized model of funding education works no better than privatizing California's electrical system did in the era of Enron, or our privatized funding of medical service, or our increasingly privatized prison system: it drives up costs at the same time that it replace quality with marketing.
  • There are data in some instances on student learning, but the deeper problem, as I suspect the author already knows, is that there is nothing like a consensus on how to measure that learning, or even on when is the proper end point to emphasize (a lot of what I teach -- I know this from what students have told me -- tends to come into sharp focus years after graduation).
  • Michael (Baltimore) has hit the nail on the head. Universities are increasingly corporatized institutions in the credentialing business. Knowledge, for those few who care about it (often not those paying for the credentials) is available freely because there's no profit in it. Like many corporate entities, it is increasingly run by increasingly highly paid administrators, not faculty.
  • GWU has not defined itself in any unique way, it has merely embraced the bland, but very expensive, accoutrements of American private education: luxury dorms, food courts, spa-like gyms, endless extracurricular activities, etc. But the real culprit for this bloat that students have to bear financially is the college ranking system by US News, Princeton Review, etc. An ultimately meaningless exercise in competition that has nevertheless pushed colleges and universities to be more like one another. A sad state of affairs, and an extremely expensive one for students
  • It is long past time to realize the failure of the Reagonomics-neoliberal private profits over public good program. In education, we need to return to public institutions publicly funded. Just as we need to recognize that Medicare, Social Security, the post office, public utilities, fire departments, interstate highway system, Veterans Administration hospitals and the GI bill are models to be improved and expanded, not destroyed.
  • George Washington is actually not a Rolex watch, it is a counterfeit Rolex. The real Rolexes of higher education -- places like Hopkins, Georgetown, Duke, the Ivies etc. -- have real endowments and real financial aid. No middle class kid is required to borrow $100,000 to get a degree from those schools, because they offer generous need-based financial aid in the form of grants, not loans. The tuition at the real Rolexes is really a sticker price that only the wealthy pay -- everybody else on a sliding scale. For middle class kids who are fortunate enough to get in, Penn actually ends up costing considerably less than a state university.The fake Rolexes -- BU, NYU, Drexel in Philadelphia -- don't have the sliding scale. They bury middle class students in debt.And really, though it is foolish to borrow $100,000 or $120,000 for an undergraduate degree, I don't find the transaction morally wrong. What is morally wrong is our federal government making that loan non-dischargeable in bankruptcy, so many if these kids will be having their wages garnished for the REST OF THEIR LIVES.There is a very simple solution to this, by the way. Cap the amount of non-dischargeable student loan debt at, say, $50,000
  • The slant of this article is critical of the growth of research universities. Couldn't disagree more. Modern research universities create are incredibly engines of economic opportunity not only for the students (who pay the bills) but also for the community via the creation of blue and white collar jobs. Large research university employ tens of thousands of locals from custodial and food service workers right up to high level administrators and specialist in finance, computer services, buildings and facilities management, etc. Johns Hopkins University and the University of Maryland system employ more people than any other industry in Maryland -- including the government. Research universities typically have hospitals providing cutting-edge medical care to the community. Local business (from cafes to property rental companies) benefit from a built-in, long-term client base as well as an educated workforce. And of course they are the foundry of new knowledge which is critical for the future growth of our country.Check out the work of famed economist Dr. Julia Lane on modeling the economic value of the research university. In a nutshell, there are few better investments America can make in herself than research universities. We are the envy of the world in that regard -- and with good reason. How many *industries* (let alone jobs) have Stanford University alone catalyzed?
  • What universities have the monopoly on is the credential. Anyone can learn, from books, from free lectures on the internet, from this newspaper, etc. But only universities can endow you with the cherished degree. For some reason, people are will to pay more for one of these pieces of paper with a certain name on it -- Ivy League, Stanford, even GW -- than another -- Generic State U -- though there is no evidence one is actually worth more in the marketplace of reality than the other. But, by the laws of economics, these places are actually underpriced: after all, something like 20 times more people are trying to buy a Harvard education than are allowed to purchase one. Usually that means you raise your price.
  • Overalll a good article, except for - "This comes on the heels of Richard Arum and Josipa Roksa’s “Academically Adrift,” a study that found “limited or no learning” among many college students." The measure of learning you report was a general thinking skills exam. That's not a good measure of college gains. Most psychologists and cognitive scientists worth their salt would tell you that improvement in critical thinking skills is going to be limited to specific areas. In other words, learning critical thinking skills in math will make little change in critical thinking about political science or biology. Thus we should not expect huge improvements in general critical thinking skills, but rather improvements in a student's major and other areas of focus, such as a minor. Although who has time for a minor when it is universally acknowledged that the purpose of a university is to please and profit an employer or, if one is lucky, an investor. Finally, improved critical thinking skills are not the end all and be all of a college education even given this profit centered perspective. Learning and mastering the cumulative knowledge of past generations is arguably the most important thing to be gained, and most universities still tend to excel at that even with the increasing mandate to run education like a business and cultivate and cull the college "consumer".
  • As for community colleges, there was an article in the Times several years ago that said it much better than I could have said it myself: community colleges are places where dreams are put on hold. Without making the full commitment to study, without leaving the home environment, many, if not most, community college students are caught betwixt and between, trying to balance work responsibilities, caring for a young child or baby and attending classes. For males, the classic "end of the road" in community college is to get a car, a job and a girlfriend, one who is not in college, and that is the end of the dream. Some can make it, but most cannot.
  • as a scientist I disagree with the claim that undergrad tuition subsidizes basic research. Nearly all lab equipment and research personnel (grad students, technicians, anyone with the title "research scientist" or similar) on campus is paid for through federal grants. Professors often spend all their time outside teaching and administration writing grant proposals, as the limited federal grant funds mean ~%85 of proposals must be rejected. What is more, out of each successful grant the university levies a "tax", called "overhead", of 30-40%, nominally to pay for basic operations (utilities, office space, administrators). So in fact one might say research helps fund the university rather than the other way around. Flag
  • It's certainly overrated as a research and graduate level university. Whether it is good for getting an undergraduate education is unclear, but a big part of the appeal is getting to live in D.C..while attending college instead of living in some small college town in the corn fields.
Emilio Ergueta

7 facts that show the American dream is dead - Salon.com - 0 views

  • The public has reached this conclusion for a very simple reason: It’s true. The key elements of the American dream—a living wage, retirement security, the opportunity for one’s children to get ahead in life—are now unreachable for all but the wealthiest among us. And it’s getting worse. As inequality increases, the fundamental elements of the American dream are becoming increasingly unaffordable for the majority.
  • “Not only has the wealth of the very rich doubled since 2000, but corporate revenues are at record levels.” Edsall also observed that, “In 2013, according to Goldman Sachs, corporate profits rose five times faster than wages.”
  • These cost increases, combined with wage stagnation, mean that families are struggling to make ends meet—and that neither parent has the luxury of staying home any longer. In fact, parenthood has become a financial risk. Warren and Tyagi write that “Having a child is now the single best predictor that a woman will end up in financial collapse.” This book was written over a decade ago; things are even worse today.
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  • “Over the past 20 years the average increase in spending on some items has exceeded the growth of incomes. The gap is especially poignant for those under 25 years old.”
  • As of 2013, tuition at a private university was projected to cost nearly $130,000 on average over four years, and that’s not counting food, lodging, books, or other expenses.
  • Sure, there are still some scholarships and grants available. But even as college costs rise, the availability of those programs is falling, leaving middle-class and lower-income students further in debt as out-of-pocket costs rise.
  • Even as overall wealth in this country has shifted upward, away from middle-class families, the cost of medical care is increasingly being borne by the families themselves. As the Milliman study shows, the employer-funded portion of healthcare costs has risen 52 percent since 2007, the first year of the recession. But household costs have risen by a staggering 73 percent, or 8 percent per year, and now average $9,144.
  • he financial crisis of 2008, driven by the greed of Wall Street one percenters, robbed most American household of their primary assets. And right-wing “centrists” of both parties, not satisfied with the rising retirement age which has already cut the program’s benefits, continue to press for even deeper cuts to the program.
  • Vacations; an education; staying home to raise your kids; a life without crushing debt; seeing the doctor when you don’t feel well; a chance to retire: one by one, these mainstays of middle-class life are disappearing for most Americans. Until we demand political leadership that will do something about it, they’re not coming back.
  • Can the American dream be restored? Yes, but it will take concerted effort to address two underlying problems. First, we must end the domination of our electoral process by wealthy and powerful elites. At the same time, we must begin to address the problem of growing economic inequality. Without a national movement to call for change, change simply isn’t going to happen.
sissij

8 Common Thinking Mistakes Our Brains Make Every Day - 2 views

  • No matter how much I pay attention to the sunk cost fallacy, I still naturally gravitate towards it.
  • The reason we can’t ignore the cost, even though it’s already been paid, is that we wired to feel loss far more strongly than gain.
  • They asked subjects to assume they had spent $100 on a ticket for a ski trip in Michigan, but soon after found a better ski trip in Wisconsin for $50 and bought a ticket for this trip too. They then asked the people in the study to imagine they learned the two trips overlapped and the tickets couldn’t be refunded or resold. Which one do you think they chose, the $100 good vacation, or the $50 great one? Over half of the people in the study went with the more expensive trip. It may not have promised to be as fun, but the loss seemed greater.
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  • the sunk cost fallacy leads us to miss or ignore the logical facts presented to us, and instead make irrational decisions based on our emotions—without even realizing we’re doing so
  •  
    I think the sunk cost fallacy is a great example of how irrational our brain is. The strong emotion can blind us from a wiser decision. This is consistent with the logic of evolution because human long time ago cannot bear any loss when they living in the wilderness without any potential tools and weapons. --Sissi (09/22/2016)
Javier E

Inequality in America and Norway - The Atlantic - 0 views

  • Norway, like many European states, has public offerings many Americans would consider political fantasy. There is lengthy paid maternity leave, free university education, and long-term unemployment benefits
  • What is it about the Norwegian state—or about Scandinavian countries in general—that leads their populations to support redistribution policies in a way that Americans don’t?
  • A group of Scandinavian researchers recently did an experiment trying to tease that out. Their goal: to find out how social attitudes towards inequality in the U.S. and Norway differ, in an effort to explain why the two countries have such different redistribution policies. The difference, they discovered, hinges on how people think about luck and fairness.
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  • “In Norway, people very much disapprove of inequalities that are due to bad luck,”
  • “People in the U.S. are more willing to accept inequality, even if it reflects pure good luck for some and pure bad luck for others.”
  • The purpose of setting up the experiment this way, Tungodden told me, was to find out spectators’ views about different sources of inequality. In the first setting, inequality was a result of luck: The workers both did the task well, but one just got lucky and received a bonus. In the second, inequality was a result of merit: One worker did the task better. And the third was to assess whether people were willing to eradicate inequality created by luck if doing so had costs: The bonus was lower if the spectators chose to redistribute it more fairly.
  • In the experiment, Americans were more willing to accept inequality if it’s a result of luck than Norwegians were. When both workers did the task well, but only one got the bonus (the first setting), half of Americans said they wanted to redistribute the bonus equally. By contrast, 78 percent of Norwegians did. “It’s an enormous difference in exactly the same situation in a willingness to accept brute luck,” Tungodden said. “Americans hold this view of, whatever comes to you, good for you.”
  • When inequality was a result of merit, on the other hand, people in both countries were willing to accept it. Just 15 percent of people in the U.S. and 36 percent of people in Norway redistributed the bonus in the second situation.
  • Together, this helps explain why Norway has a more robust welfare state than the U.S. does, Tungodden said. Norwegians believe that when someone is, by bad luck, born into a poor family, or is, by bad luck, thrust into poverty, that person should have help from others. U.S. residents are more split on this idea
  • This could be because Americans admire wealth and would be hesitant to implement policies that would hurt people who, by luck, are wealthy.
  • There were some differences in which demographics in each country were willing to redistribute the bonuses.
  • white Americans tend to be more withholding when it comes to welfare if they believe the money is going to black Americans. It would be illuminating for another, similar study to be performed that looks at whether white people perceive luck as more or less fair if the beneficiary (or loser, as the case may be) is black.
  • Perhaps somewhat surprisingly, both Americans and Norwegians seemed willing to weather some costs of wealth redistribution. In the third setting, when spectators were told that the inequality was the result of luck, but that redistributing the bonus would have a significant cost, about equal numbers of Americans and Norwegians decided to redistribute
  • it shows that people in both countries are more concerned about whether inequalities are fair than about whether there are costs to redistribution.
  • Debates about the costs of a welfare state and redistribution in America, then, may be besides the point. Costs don’t seem to be Americans’ big hang-up with redistribution. Rather, their opposition seems to go to an underlying acceptance of fate and the fortunes it brings.
douglasn89

The Simple Economics of Machine Intelligence - 0 views

  • The year 1995 was heralded as the beginning of the “New Economy.” Digital communication was set to upend markets and change everything. But economists by and large didn’t buy into the hype.
  • Today we are seeing similar hype about machine intelligence. But once again, as economists, we believe some simple rules apply. Technological revolutions tend to involve some important activity becoming cheap, like the cost of communication or finding information. Machine intelligence is, in its essence, a prediction technology, so the economic shift will center around a drop in the cost of prediction.
  • The first effect of machine intelligence will be to lower the cost of goods and services that rely on prediction. This matters because prediction is an input to a host of activities including transportation, agriculture, healthcare, energy manufacturing, and retail.
    • douglasn89
       
      This emphasis on prediction ties into the previous discussion and reading we had which included the idea that humans by nature are poor predictors, so because of that, they have begun to design machines to predict.
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  • As machine intelligence lowers the cost of prediction, we will begin to use it as an input for things for which we never previously did. As a historical example, consider semiconductors, an area of technological advance that caused a significant drop in the cost of a different input: arithmetic. With semiconductors we could calculate cheaply, so activities for which arithmetic was a key input, such as data analysis and accounting, became much cheaper.
  • As machine intelligence improves, the value of human prediction skills will decrease because machine prediction will provide a cheaper and better substitute for human prediction, just as machines did for arithmetic.
  • Using the language of economics, judgment is a complement to prediction and therefore when the cost of prediction falls demand for judgment rises. We’ll want more human judgment.
  • But it yields two key implications: 1) an expanded role of prediction as an input to more goods and services, and 2) a change in the value of other inputs, driven by the extent to which they are complements to or substitutes for prediction. These changes are coming.
    • douglasn89
       
      This article agrees with the readings from Unit 5 Lesson 6 in its prediction of changes.
caelengrubb

Investment - Econlib - 0 views

  • nvestment is one of the most important variables in economics.
  • Its surges and collapses are still a primary cause of recessions.
  • By investment, economists mean the production of goods that will be used to produce other goods. This definition differs from the popular usage, wherein decisions to purchase stocks (see stock market) or bonds are thought of as investment.
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  • Investment is usually the result of forgoing consumption. In a purely agrarian society, early humans had to choose how much grain to eat after the harvest and how much to save for future planting. The latter was investment.
  • In a more modern society, we allocate our productive capacity to producing pure consumer goods such as hamburgers and hot dogs, and investment goods such as semiconductor foundries. If we create one dollar worth of hamburgers today, then our gross national product is higher by one dollar.
  • Investment need not always take the form of a privately owned physical product. The most common example of nonphysical investment is investment in human capital.
  • In an economy that is closed to the outside world, investment can come only from the forgone consumption—the saving—of private individuals, private firms, or government.
  • In an open economy, however, investment can surge at the same time that a nation’s saving is low because a country can borrow the resources necessary to invest from neighboring countries.
  • That economists have a fairly strong understanding of firms’ investment behavior makes sense. A firm that maximizes its profits must address investment using the framework discussed in this article.
  • The theory of investment dates back to the giants of economics. irving fisher, arthur cecil pigou, and alfred marshall all made contributions; as did john maynard keynes, whose Marshallian user cost theory is a central feature in his General Theory.
  • Investment fluctuates a lot because the fundamentals that drive investment—output prices, interest rates, and taxes—also fluctuate. But economists do not fully understand fluctuations in investment. Indeed, the sharp swings in investment that occur might require an extension to the Jorgenson theory.
  • In Jorgenson’s user cost model, firms will purchase a machine if the extra revenue the machine generates is a smidgen more than its cost.
  • The general conclusion is that there is a gain to waiting if there is uncertainty and if the installation of the machine entails sunk costs, that is, costs that cannot be recovered once spent.
  • Although quantifying this gain exactly is a highly mathematical exercise, the reasoning is straightforward. That would explain why firms typically want to invest only in projects that have a high expected profit.
  • The fact of irreversibility might explain the large fluctuations in investment that we observe.
  • This method of financing investment has been very important in the United States. The industrial base of the United States in the nineteenth century—railroads, factories, and so on—was built on foreign finance, especially from Britain. More recently, the United States has repeatedly posted significant investment growth and very low savings.
  • Consumer behavior is harder to study than firms’ behavior. Market forces that drive irrational people out of the marketplace are much weaker than market forces that drive bad companies from the market.
  • Because the saving response of consumers must be known if one is to fully understand the impact of any investment policy, and because saving behavior is so poorly understood, much work remains to be done.
pier-paolo

Opinion | The War on Logic - The New York Times - 0 views

  • We are, I believe, witnessing something new in American politics. Last year, looking at claims that we can cut taxes, avoid cuts to any popular program and still balance the budget, I observed that Republicans seemed to have lost interest in the war on terror and shifted focus to the war on arithmetic. But now the G.O.P. has moved on to an even bigger project: the war on logic.
  • First of all, says the analysis, the true cost of reform includes the cost of the “doc fix.”
  • in 1997 Congress enacted a formula to determine Medicare payments to physicians. The formula was, however, flawed; it would lead to payments so low that doctors would stop accepting Medicare patients. Instead of changing the formula, however, Congress has consistently enacted one-year fixes.
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  • And Republicans claim that the estimated cost of future fixes, $208 billion over the next 10 years, should be considered a cost of health care reform.But the same spending would still be necessary if we were to undo reform. So the G.O.P. argument here is exactly like claiming that my mortgage payments, which I’ll have to make no matter what we do tonight, are a cost of going out for dinner.
  • So, is the Republican leadership unable to see through childish logical fallacies? No. The key to understanding the G.O.P. analysis of health reform is that the party’s leaders are not, in fact, opposed to reform because they believe it will increase the deficit
  • All they ever needed or wanted were some numbers and charts to wave at the press, fooling some people into believing that we’re having some kind of rational discussion. We aren’t.
Javier E

Quitters Never Win: The Costs of Leaving Social Media - Woodrow Hartzog and Evan Seling... - 2 views

  • Manjoo offers this security-centric path for folks who are anxious about the service being "one the most intrusive technologies ever built," and believe that "the very idea of making Facebook a more private place borders on the oxymoronic, a bit like expecting modesty at a strip club". Bottom line: stop tuning in and start dropping out if you suspect that the culture of oversharing, digital narcissism, and, above all, big-data-hungry, corporate profiteering will trump privacy settings.
  • Angwin plans on keeping a bare-bones profile. She'll maintain just enough presence to send private messages, review tagged photos, and be easy for readers to find. Others might try similar experiments, perhaps keeping friends, but reducing their communication to banal and innocuous expressions. But, would such disclosures be compelling or sincere enough to retain the technology's utility?
  • The other unattractive option is for social web users to willingly pay for connectivity with extreme publicity.
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  • go this route if you believe privacy is dead, but find social networking too good to miss out on.
  • While we should be attuned to constraints and their consequences, there are at least four problems with conceptualizing the social media user's dilemma as a version of "if you can't stand the heat, get out of the kitchen".
  • The efficacy of abandoning social media can be questioned when others are free to share information about you on a platform long after you've left.
  • Second, while abandoning a single social technology might seem easy, this "love it or leave it" strategy -- which demands extreme caution and foresight from users and punishes them for their naivete -- isn't sustainable without great cost in the aggregate. If we look past the consequences of opting out of a specific service (like Facebook), we find a disconcerting and more far-reaching possibility: behavior that justifies a never-ending strategy of abandoning every social technology that threatens privacy -- a can being kicked down the road in perpetuity without us resolving the hard question of whether a satisfying balance between protection and publicity can be found online
  • if your current social network has no obligation to respect the obscurity of your information, what justifies believing other companies will continue to be trustworthy over time?
  • Sticking with the opt-out procedure turns digital life into a paranoid game of whack-a-mole where the goal is to stay ahead of the crushing mallet. Unfortunately, this path of perilously transferring risk from one medium to another is the direction we're headed if social media users can't make reasonable decisions based on the current context of obscurity, but instead are asked to assume all online social interaction can or will eventually lose its obscurity protection.
  • The fourth problem with the "leave if you're unhappy" ethos is that it is overly individualistic. If a critical mass participates in the "Opt-Out Revolution," what would happen to the struggling, the lonely, the curious, the caring, and the collaborative if the social web went dark?
  • Our point is that there is a middle ground between reclusion and widespread publicity, and the reduction of user options to quitting or coping, which are both problematic, need not be inevitable, especially when we can continue exploring ways to alleviate the user burden of retreat and the societal cost of a dark social web.
  • it is easy to presume that "even if you unfriend everybody on Facebook, and you never join Twitter, and you don't have a LinkedIn profile or an About.me page or much else in the way of online presence, you're still going to end up being mapped and charted and slotted in to your rightful place in the global social network that is life." But so long it remains possible to create obscurity through privacy enhancing technology, effective regulation, contextually appropriate privacy settings, circumspect behavior, and a clear understanding of how our data can be accessed and processed, that fatalism isn't justified.
nataliedepaulo1

Companies are already lining up to build the U.S.-Mexico border wall - Mar. 2, 2017 - 0 views

  • Businesses will be asked to submit their proposals to design and build prototype wall structures near the United States border with Mexico starting next week, according to the Department of Homeland Security's Customs and Border Protection agency.
  • Trump has said that the entire wall will cost $10 billion, citing an estimate that he received during the campaign from the National Precast Concrete Association. But other estimates have put the cost at as much as $25 billion, according to a report from Bernstein Research, which tracks materials costs.
caelengrubb

As more are vaccinated, it makes economic sense to gradually open the economy, study fi... - 1 views

  • A University of New Mexico research team conducted a data analysis that has found that as a larger portion of the population gets vaccinated against COVID-19, it becomes economically advantageous to start relaxing social distancing measures and open businesses.
  • The study looked at data from four metropolitan statistical areas (MSAs) within the United States: Seattle, New York City, Los Angeles and Houston from January 21 to July 8, 2020. The four cities were chosen because they have had divergent trends with the virus (Seattle and New York City were early hotspots, while Los Angeles and Houston peaked in the summer).
  • "Our work is quantitative, so it can hopefully offer some evidence that shows the vaccines are going to allow us to loosen social distancing measures, including opening businesses," he said. "It provides a measure of hope as we go forward and increase the percentage of citizens who are vaccinated."
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  • Sorrentino said the study defined economic impact by the extent that a city's economy was closed -- businesses like restaurants, gyms, salons and airports that would lose business without people's physical presence.
  • The study took into account both the costs associated with quarantining (which requires supervision costs as well as costs due to lowered productivity) as well as social distancing (which incurs costs only due to productivity).
  • "But our model shows that even before we achieve herd immunity, we can relax social distancing compared to the situation prior to immunization."
  • The analysis looked at Seattle, beginning on December 14, 2020, when the vaccine was first being administered. Even with this limited data, the effect of vaccinations was dramatic, impacting the so-called "optimal control solution."
  • While the optimal interventions would vary depending on a number of factors, we always saw that a gradual relaxation of social distancing was possible after roughly 10% of the population got vaccinated," he said.
  • After just 20 days, the trend was becoming clear when comparing with the case in which the effects of vaccinations were not incorporated in the model.
  • Sorrentino emphasizes also that everyone should continue to follow the current policy and health guidelines, and that the relaxing of social distancing should adhere to these guidelines and be gradual. And of course, that guidance may change, based on the rates of spread of the virus and the variants.
Javier E

The Sad Trombone Debate: The RNC Throws in the Towel and Gets Ready to Roll Over for Tr... - 0 views

  • Death to the Internet
  • Yesterday Ben Thompson published a remarkable essay in which he more or less makes the case that the internet is a socially deleterious invention, that it will necessarily get more toxic, and that the best we can hope for is that it gets so bad, so fast, that everyone is shocked into turning away from it.
  • Ben writes the best and most insightful newsletter about technology and he has been, in all the years I’ve read him, a techno-optimist.
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  • this is like if Russell Moore came out and said that, on the whole, Christianity turns out to be a bad thing. It’s that big of a deal.
  • Thompson’s case centers around constraints and supply, particularly as they apply to content creation.
  • In the pre-internet days, creating and distributing content was relatively expensive, which placed content publishers—be they newspapers, or TV stations, or movie studios—high on the value chain.
  • The internet reduced distribution costs to zero and this shifted value away from publishers and over to aggregators: Suddenly it was more important to aggregate an audience—a la Google and Facebook—than to be a content creator.
  • Audiences were valuable; content was commoditized.
  • What has alarmed Thompson is that AI has now reduced the cost of creating content to zero.
  • what does the world look like when both the creation and distribution of content are zero?
  • Hellscape
  • We’re headed to a place where content is artificially created and distributed in such a way as to be tailored to a given user’s preferences. Which will be the equivalent of living in a hall of mirrors.
  • What does that mean for news? Nothing good.
  • It doesn’t really make sense to talk about “news media” because there are fundamental differences between publication models that are driven by scale.
  • So the challenges the New York Times face will be different than the challenges that NPR or your local paper face.
  • Two big takeaways:
  • (1) Ad-supported publications will not survive
  • Zero-cost for content creation combined with zero-cost distribution means an infinite supply of content. The more content you have, the more ad space exists—the lower ad prices go.
  • Actually, some ad-supported publications will survive. They just won’t be news. What will survive will be content mills that exist to serve ads specifically matched to targeted audiences.
  • (2) Size is determinative.
  • The New York Times has a moat by dint of its size. It will see the utility of its soft “news” sections decline in value, because AI is going to be better at creating cooking and style content than breaking hard news. But still, the NYT will be okay because it has pivoted hard into being a subscription-based service over the last decade.
  • At the other end of the spectrum, independent journalists should be okay. A lone reporter running a focused Substack who only needs four digits’ worth of subscribers to sustain them.
  • But everything in between? That’s a crapshoot.
  • Technology writers sometimes talk about the contrast between “builders” and “conservers” — roughly speaking, between those who are most animated by what we stand to gain from technology and those animated by what we stand to lose.
  • in our moment the builder and conserver types are proving quite mercurial. On issues ranging from Big Tech to medicine, human enhancement to technologies of governance, the politics of technology are in upheaval.
  • Dispositions are supposed to be basically fixed. So who would have thought that deep blue cities that yesterday were hotbeds of vaccine skepticism would today become pioneers of vaccine passports? Or that outlets that yesterday reported on science and tech developments in reverent tones would today make it their mission to unmask “tech bros”?
  • One way to understand this churn is that the builder and the conserver types each speak to real, contrasting features within human nature. Another way is that these types each pick out real, contrasting features of technology. Focusing strictly on one set of features or the other eventually becomes unstable, forcing the other back into view.
Javier E

Generative AI Brings Cost of Creation Close to Zero, Andreessen Horowitz's Martin Casad... - 0 views

  • The value of ChatGPT-like technology comes from bringing the cost of producing images, text and other creative projects close to zero
  • With only a few prompts, generative AI technology—such as the giant language models underlying the viral ChatGPT chatbot—can enable companies to create sales and marketing materials from scratch quickly for a fraction of the price of using current software tools, and paying designers, photographers and copywriters, among other expenses
  • “That’s very rare in my 20 years of experience in doing just frontier tech, to have four or five orders of magnitude of improvement on something people care about
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  • many corporate technology chiefs have taken a wait-and-see approach to the technology, which has developed a reputation for producing false, misleading and unintelligible results—dubbed AI ‘hallucinations’. 
  • Though ChatGPT, which is available free online, is considered a consumer app, OpenAI has encouraged companies and startups to build apps on top of its language models—in part by providing access to the underlying computer code for a fee.
  • here are “certain spaces where it’s clearly directly applicable,” such as summarizing documents or responding to customer queries. Many startups are racing to apply the technology to a wider set of enterprise use case
  • “I think it’s going to creep into our lives in ways we least expect it,” Mr. Casado said.
Javier E

The Class Politics of Instagram Face - Tablet Magazine - 0 views

  • by approaching universality, Instagram Face actually secured its role as an instrument of class distinction—a mark of a certain kind of woman. The women who don’t mind looking like others, or the conspicuousness of the work they’ve had done
  • Instagram Face goes with implants, middle-aged dates and nails too long to pick up the check. Batting false eyelashes, there in the restaurant it orders for dinner all the food groups of nouveau riche Dubai: caviar, truffle, fillers, foie gras, Botox, bottle service, bodycon silhouettes. The look, in that restaurant and everywhere, has reached a definite status. It’s the girlfriend, not the wife.
  • Does cosmetic work have a particular class? It has a price tag, which can amount to the same thing, unless that price drops low enough.
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  • Before the introduction of Botox and hyaluronic acid dermal fillers in 2002 and 2003, respectively, aesthetic work was serious, expensive. Nose jobs and face lifts required general anesthesia, not insignificant recovery time, and cost thousands of dollars (in 2000, a facelift was $5,416 on average, and a rhinoplasty $4,109, around $9,400 and $7,000 adjusted).
  • In contrast, the average price of a syringe of hyaluronic acid filler today is $684, while treating, for example, the forehead and eyes with Botox will put you out anywhere from $300 to $600
  • We copied the beautiful and the rich, not in facsimile, but in homage.
  • In 2018, use of Botox and fillers was up 18% and 20% from five years prior. Philosophies of prejuvenation have made Botox use jump 22% among 22- to 37-year-olds in half a decade as well. By 2030, global noninvasive aesthetic treatments are predicted to triple.
  • The trouble is that a status symbol, without status, is common.
  • Beauty has always been exclusive. When someone strikes you as pretty, it means they are something that everyone else is not.
  • It’s a zero-sum game, as relative as our morals. Naturally, we hoard of beauty what we can. It’s why we call grooming tips “secrets.”
  • Largely the secrets started with the wealthy, who possess the requisite money and leisure to spare on their appearances
  • Botox and filler only accelerated a trend that began in the ’70s and ’80s and is just now reaching its saturation point.
  • we didn’t have the tools for anything more than emulation. Fake breasts and overdrawn lips only approximated real ones; a birthmark drawn with pencil would always be just that.
  • Instagram Face, on the other hand, distinguishes itself by its sheer reproducibility. Not only because of those new cosmetic technologies, which can truly reshape features, at reasonable cost and with little risk.
  • built in to the whole premise of reversible, low-stakes modification is an indefinite flux, and thus a lack of discretion.
  • Instagram Face has replicated outward, with trendsetters giving up competing with one another in favor of looking eerily alike. And obviously it has replicated down.
  • Eva looks like Eva. If she has procedures in common with Kim K, you couldn’t tell. “I look at my features and I think long and hard of how I can, without looking different and while keeping as natural as possible, make them look better and more proportional. I’m against everything that is too invasive. My problem with Instagram Face is that if you want to look like someone else, you should be in therapy.”
  • natural looks have always been, and still are, more valuable than artificial ones. Partly because of our urge to legitimize in any way we can the advantages we have over other people. Hotness is a class struggle.
  • As more and more women post videos of themselves eating, sleeping, dressing, dancing, and Only-Fanning online, in a logical bid for economic ascendance, the women who haven’t needed to do that gain a new status symbol.
  • Privacy. A life which is not a ticketed show. An intimacy that does not admit advertisers. A face that does not broadcast its insecurity, or the work undergone to correct it.
  • Upper class, private women get discrete work done. The differences aren’t in the procedures themselves—they’re the same—but in disposition
  • Eva, who lives between central London, Geneva, and the south of France, says: “I do stuff, but none of the stuff I do is at all in my head associated with Instagram Face. Essentially you do similar procedures, but the end goal is completely different. Because they are trying to get the result of looking like another human being, and I’m just beautifying myself.”
  • But the more rapidly it replicates, and the clearer our manuals for quick imitation become, the closer we get to singularity—that moment Kim Kardashian fears unlike any other: the moment when it becomes unclear whether we’re copying her, or whether she is copying us.
  • what he restores is complicated and yet not complicated at all. It’s herself, the fingerprint of her features. Her aura, her presence and genealogy, her authenticity in space and time.
  • Dr. Taktouk’s approach is “not so formulaic.” He aims to give his patients the “better versions of themselves.” “It’s not about trying to be anyone else,” he says, “or creating a conveyor belt of patients. It’s about working with your best features, enhancing them, but still looking like you.”
  • “Vulgar” says that in pursuing indistinguishability, women have been duped into another punishing divide. “Vulgar” says that the subtlety of his work is what signals its special class—and that the women who’ve obtained Instagram Face for mobility’s sake have unwittingly shut themselves out of it.
  • While younger women are dissolving their gratuitous work, the 64-year-old Madonna appeared at the Grammy Awards in early February, looking so tragically unlike herself that the internet launched an immediate postmortem.
  • The folly of Instagram Face is that in pursuing a bionic ideal, it turns cosmetic technology away from not just the reality of class and power, but also the great, poignant, painful human project of trying to reverse time. It misses the point of what we find beautiful: that which is ephemeral, and can’t be reproduced
  • Age is just one of the hierarchies Instagram Face can’t topple, in the history of women striving versus the women already arrived. What exactly have they arrived at?
  • Youth, temporarily. Wealth. Emotional security. Privacy. Personal choices, like cosmetic decisions, which are not so public, and do not have to be defended as empowered, in the defeatist humiliation of our times
  • Maybe they’ve arrived at love, which for women has never been separate from the things I’ve already mentioned.
  • I can’t help but recall the time I was chatting with a plastic surgeon. I began to point to my features, my flaws. I asked her, “What would you do to me, if I were your patient?” I had many ideas. She gazed at me, and then noticed my ring. “Nothing,” she said. “You’re already married.”
karenmcgregor

Decoding the Investment: Cost Analysis of CCNA Assignment Writing Help - 1 views

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Javier E

Global Slavery, by the Numbers - NYTimes.com - 0 views

  • While slavery is illegal across the globe, the SumAll Foundation noted, there are 27 million slaves worldwide, more than in 1860, when there were 25 million. Most are held in bonded servitude, particularly after taking loans they could not repay. Slaves cost slightly more now, with a median price of $140, compared with $134 per human then. Debt slaves cost on average $60; trafficked sex slaves cost $1,910.
Emily Horwitz

U.S. Stockpiles Smallpox Drug in Case of Bioterror Attack - NYTimes.com - 0 views

  • The United States government is buying enough of a new smallpox medicine to treat two million people in the event of a bioterrorism attack, and took delivery of the first shipment of it last week. But the purchase has set off a debate about the lucrative contract, with some experts saying the government is buying too much of the drug at too high a price.
  • Smallpox was eradicated by 1980, and the only known remaining virus is in government laboratories in the United States and Russia
  • Experts say the virus could also be re-engineered into existence in a sophisticated genetics lab.
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  • the government is paying more than $200 for each course of treatment.
  • But when stockpiling a smallpox drug was first proposed in 2001 after the Sept. 11 and anthrax attacks, it was expected to cost only $5 to $10 per course, said Dr. Donald A. Henderson, who led a government advisory panel on biodefense in the wake of those attacks. Dr. Henderson was a leader in the eradication of smallpox in the 1960s and is now at the Center for Biosecurity at the University of Pittsburgh Medical Center.
  • Smallpox has such a long incubation period that the vaccine can prevent disease even if it is given as late as three days after infection. Arestvyr may also prevent infection if given early enough, but that has not been proven.
  • the price being charged for a patented drug was a bargain compared with AIDS antiretrovirals that cost $20,000 a year and cancer drugs that cost more than $100,000 a year.
  • “There are 80 million courses of Tamiflu in the strategic national stockpile,” he said. “Smallpox is just as contagious and has 30 times the mortality. By measures like that, I’d say 2 million is on the low end.”
  •  
    After reading this article, I thought about how much fear and the perceived threat of terrorism can be used quite effectively as manipulative tools. The article seemed to suggest that, because the US is so afraid/wary of a bioterrorism attack involving smallpox, we were willing to pay an excessive amount of money for emergency-use vaccines.
Javier E

McSweeney's Internet Tendency: It's Not You, It's Quantitative Cost-Benefit Analysis. - 0 views

  • Susan, we need to talk. I’ve been doing a lot of thinking lately. About us. I really like you, but ever since we met in that econ class in college I knew there was something missing from how I felt: quantitative reasoning. We can say we love each other all we want, but I just can’t trust it without the data. And after performing an in-depth cost-benefit analysis of our relationship, I just don’t think this is working out.
Javier E

Our economy is a hellscape for consumers. The United flier is the latest victim. - The ... - 0 views

  • We are told that this is the era of the empowered consumer:
  • Better information means more competition, which means lower prices — all features, of course, of an open marketplace ostensibly presided over by a regulatory authority that, while distant, exists to protect our safety.
  • This vision is a lie. Air travel is the most concentrated version of an essentially authoritarian experience that can be found throughout today’s economy. We live, work, shop, and travel under a system of grossly asymmetric power relationships, in which consumers sign away most of their rights just by purchasing a ticket and companies deputize themselves to enforce contracts with hired goons.
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  • It doesn’t help that the Trump administration is rapidly stripping away as many regulations as it can, promising to repeal two for every new one implemented — an ultra-wealthy administration’s attempt to formalize the plutocratic free-for-all that has followed decades of growing corporate power, defined by massive income inequality, regulatory capture, a revolving door between agencies and the industries they oversee, and steadily eroding consumer rights. The empowered consumer is a figment of our imagination.
  • Experiences that used to be standardized are being divided into tiers denoting various rights, access and costs. The result is to both pit consumers against one another — as they compete for a limited pool of guaranteed seats on an airplane, for example — and to extract more money out of better-heeled customers.
  • If we violate any of the strictures of the contract we’ve implicitly signed by buying a ticket, then the airline — backed with the imprimatur of state authority, perhaps even with the help of local police — has every right to remove us from the plane without apology.
  • Survey the economic landscape and you’re likely to find similarly scrambled power relationships. During the foreclosure crisis, banks acted like arms of the state, with local sheriffs becoming the banking industry’s eviction force. Health insurers dictate access to health care for millions while a small coterie of chief executives reaps huge payouts. The telecommunications industry has consolidated into a handful of industry behemoths that maintain regional monopolies
  • The result is a lack of competition and slow, pricey service
  • Increasingly we’re not just paying more for less; we are sacrificing our privacy rights in the process, as personal data has become a huge driver of the digital economy
  • Those are the economic costs of this arrangement. The social and cultural costs are harder to define but no less important. As Sandel explains, common experiences become increasingly fragmented and subjected to the vicissitudes of the market: “At a time of rising inequality, the marketization of everything means that people of affluence and people of modest means lead increasingly separate lives. We live and work and shop and play in different places. Our children go to different schools.”
  • traditionally guaranteed rights become more contingent and benefits accrue to the wealthy.
  • We get what we pay for, which increasingly means whatever a company like United decides.
Javier E

The American Scholar: The Decline of the English Department - William M. Chace - 1 views

  • The number of young men and women majoring in English has dropped dramatically; the same is true of philosophy, foreign languages, art history, and kindred fields, including history. As someone who has taught in four university English departments over the last 40 years, I am dismayed by this shift, as are my colleagues here and there across the land. And because it is probably irreversible, it is important to attempt to sort out the reasons—the many reasons—for what has happened.
  • English: from 7.6 percent of the majors to 3.9 percent
  • In one generation, then, the numbers of those majoring in the humanities dropped from a total of 30 percent to a total of less than 16 percent; during that same generation, business majors climbed from 14 percent to 22 percent.
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  • History: from 18.5 percent to 10.7 percent
  • These, then, are some of the external causes of the decline of English: the rise of public education; the relative youth and instability (despite its apparent mature solidity) of English as a discipline; the impact of money; and the pressures upon departments within the modern university to attract financial resources rather than simply use them up.
  • The twin focus, then, was on the philological nature of the enterprise and the canon of great works to be studied in their historical evolution.
  • Studying English taught us how to write and think better, and to make articulate many of the inchoate impulses and confusions of our post-adolescent minds. We began to see, as we had not before, how such books could shape and refine our thinking. We began to understand why generations of people coming before us had kept them in libraries and bookstores and in classes such as ours. There was, we got to know, a tradition, a historical culture, that had been assembled around these books. Shakespeare had indeed made a difference—to people before us, now to us, and forever to the language of English-speaking people.
  • today there are stunning changes in the student population: there are more and more gifted and enterprising students coming from immigrant backgrounds, students with only slender connections to Western culture and to the assumption that the “great books” of England and the United States should enjoy a fixed centrality in the world. What was once the heart of the matter now seems provincial. Why throw yourself into a study of something not emblematic of the world but representative of a special national interest? As the campus reflects the cultural, racial, and religious complexities of the world around it, reading British and American literature looks more and more marginal. From a global perspective, the books look smaller.
  • With the cost of a college degree surging upward during the last quarter century—tuition itself increasing far beyond any measure of inflation—and with consequent growth in loan debt after graduation, parents have become anxious about the relative earning power of a humanities degree. Their college-age children doubtless share such anxiety. When college costs were lower, anxiety could be kept at bay. (Berkeley in the early ’60s cost me about $100 a year, about $700 in today’s dollars.)
  • Economists, chemists, biologists, psychologists, computer scientists, and almost everyone in the medical sciences win sponsored research, grants, and federal dollars. By and large, humanists don’t, and so they find themselves as direct employees of the institution, consuming money in salaries, pensions, and operating needs—not external money but institutional money.
  • But the deeper explanation resides not in something that has happened to it, but in what it has done to itself. English has become less and less coherent as a discipline and, worse, has come near exhaustion as a scholarly pursuit.
  • several of my colleagues around the country have called for a return to the aesthetic wellsprings of literature, the rock-solid fact, often neglected, that it can indeed amuse, delight, and educate. They urge the teaching of English, or French, or Russian literature, and the like, in terms of the intrinsic value of the works themselves, in all their range and multiplicity, as well-crafted and appealing artifacts of human wisdom. Second, we should redefine our own standards for granting tenure, placing more emphasis on the classroom and less on published research, and we should prepare to contest our decisions with administrators whose science-based model is not an appropriate means of evaluation.
  • “It may be that what has happened to the profession is not the consequence of social or philosophical changes, but simply the consequence of a tank now empty.” His homely metaphor pointed to the absence of genuinely new frontiers of knowledge and understanding for English professors to explore.
  • unlike other members of the university community, they might well have been plying their trade without proper credentials: “Whereas economists or physicists, geologists or climatologists, physicians or lawyers must master a body of knowledge before they can even think of being licensed to practice,” she said, “we literary scholars, it is tacitly assumed, have no definable expertise.”
  • no one has come forward in years to assert that the study of English (or comparative literature or similar undertakings in other languages) is coherent, does have self-limiting boundaries, and can be described as this but not that.
  • to teach English today is to do, intellectually, what one pleases. No sense of duty remains toward works of English or American literature; amateur sociology or anthropology or philosophy or comic books or studies of trauma among soldiers or survivors of the Holocaust will do. You need not even believe that works of literature have intelligible meaning; you can announce that they bear no relationship at all to the world beyond the text.
  • With everything on the table, and with foundational principles abandoned, everyone is free, in the classroom or in prose, to exercise intellectual laissez-faire in the largest possible way—I won’t interfere with what you do and am happy to see that you will return the favor
  • Consider the English department at Harvard University. It has now agreed to remove its survey of English literature for undergraduates, replacing it and much else with four new “affinity groups”
  • there would be no one book, or family of books, that every English major at Harvard would have read by the time he or she graduates. The direction to which Harvard would lead its students in this “clean slate” or “trickle down” experiment is to suspend literary history, thrusting into the hands of undergraduates the job of cobbling together intellectual coherence for themselves
  • Those who once strove to give order to the curriculum will have learned, from Harvard, that terms like core knowledge and foundational experience only trigger acrimony, turf protection, and faculty mutinies. No one has the stomach anymore to refight the Western culture wars. Let the students find their own way to knowledge.
  • In English, the average number of years spent earning a doctoral degree is almost 11. After passing that milestone, only half of new Ph.D.’s find teaching jobs, the number of new positions having declined over the last year by more than 20 percent; many of those jobs are part-time or come with no possibility of tenure. News like that, moving through student networks, can be matched against, at least until recently, the reputed earning power of recent graduates of business schools, law schools, and medical schools. The comparison is akin to what young people growing up in Rust Belt cities are forced to see: the work isn’t here anymore; our technology is obsolete.
  • In this country and in England, the study of English literature began in the latter part of the 19th century as an exercise in the scientific pursuit of philological research, and those who taught it subscribed to the notion that literature was best understood as a product of language.
  • English departments need not refight the Western culture wars. But they need to fight their own book wars. They must agree on which texts to teach and argue out the choices and the principles of making them if they are to claim the respect due a department of study.
  • They can teach their students to write well, to use rhetoric. They should place their courses in composition and rhetoric at the forefront of their activities. They should announce that the teaching of composition is a skill their instructors have mastered and that students majoring in English will be certified, upon graduation, as possessing rigorously tested competence in prose expression.
  • The study of literature will then take on the profile now held, with moderate dignity, by the study of the classics, Greek and Latin.
  • But we can, we must, do better. At stake are the books themselves and what they can mean to the young. Yes, it is just a literary tradition. That’s all. But without such traditions, civil societies have no compass to guide them.
Javier E

Ivy League Schools Are Overrated. Send Your Kids Elsewhere. | New Republic - 1 views

  • a blizzard of admissions jargon that I had to pick up on the fly. “Good rig”: the transcript exhibits a good degree of academic rigor. “Ed level 1”: parents have an educational level no higher than high school, indicating a genuine hardship case. “MUSD”: a musician in the highest category of promise. Kids who had five or six items on their list of extracurriculars—the “brag”—were already in trouble, because that wasn’t nearly enough.
  • With so many accomplished applicants to choose from, we were looking for kids with something special, “PQs”—personal qualities—that were often revealed by the letters or essays. Kids who only had the numbers and the résumé were usually rejected: “no spark,” “not a team-builder,” “this is pretty much in the middle of the fairway for us.” One young person, who had piled up a truly insane quantity of extracurriculars and who submitted nine letters of recommendation, was felt to be “too intense.”
  • On the other hand, the numbers and the résumé were clearly indispensable. I’d been told that successful applicants could either be “well-rounded” or “pointy”—outstanding in one particular way—but if they were pointy, they had to be really pointy: a musician whose audition tape had impressed the music department, a scientist who had won a national award.
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  • When I speak of elite education, I mean prestigious institutions like Harvard or Stanford or Williams as well as the larger universe of second-tier selective schools, but I also mean everything that leads up to and away from them—the private and affluent public high schools; the ever-growing industry of tutors and consultants and test-prep courses; the admissions process itself, squatting like a dragon at the entrance to adulthood; the brand-name graduate schools and employment opportunities that come after the B.A.; and the parents and communities, largely upper-middle class, who push their children into the maw of this machine.
  • Our system of elite education manufactures young people who are smart and talented and driven, yes, but also anxious, timid, and lost, with little intellectual curiosity and a stunted sense of purpose: trapped in a bubble of privilege, heading meekly in the same direction, great at what they’re doing but with no idea why they’re doing it.
  • “Super People,” the writer James Atlas has called them—the stereotypical ultra-high-achieving elite college students of today. A double major, a sport, a musical instrument, a couple of foreign languages, service work in distant corners of the globe, a few hobbies thrown in for good measure: They have mastered them all, and with a serene self-assurance
  • Like so many kids today, I went off to college like a sleepwalker. You chose the most prestigious place that let you in; up ahead were vaguely understood objectives: status, wealth—“success.” What it meant to actually get an education and why you might want one—all this was off the table.
  • It was only after 24 years in the Ivy League—college and a Ph.D. at Columbia, ten years on the faculty at Yale—that I started to think about what this system does to kids and how they can escape from it, what it does to our society and how we can dismantle it.
  • I taught many wonderful young people during my years in the Ivy League—bright, thoughtful, creative kids whom it was a pleasure to talk with and learn from. But most of them seemed content to color within the lines that their education had marked out for them. Very few were passionate about ideas. Very few saw college as part of a larger project of intellectual discovery and development. Everyone dressed as if they were ready to be interviewed at a moment’s notice.
  • Look beneath the façade of seamless well-adjustment, and what you often find are toxic levels of fear, anxiety, and depression, of emptiness and aimlessness and isolation. A large-scale survey of college freshmen recently found that self-reports of emotional well-being have fallen to their lowest level in the study’s 25-year history.
  • So extreme are the admission standards now that kids who manage to get into elite colleges have, by definition, never experienced anything but success. The prospect of not being successful terrifies them, disorients them. The cost of falling short, even temporarily, becomes not merely practical, but existential. The result is a violent aversion to risk.
  • There are exceptions, kids who insist, against all odds, on trying to get a real education. But their experience tends to make them feel like freaks. One student told me that a friend of hers had left Yale because she found the school “stifling to the parts of yourself that you’d call a soul.”
  • What no one seems to ask is what the “return” is supposed to be. Is it just about earning more money? Is the only purpose of an education to enable you to get a job? What, in short, is college for?
  • The first thing that college is for is to teach you to think.
  • College is an opportunity to stand outside the world for a few years, between the orthodoxy of your family and the exigencies of career, and contemplate things from a distance.
  • it is only through the act of establishing communication between the mind and the heart, the mind and experience, that you become an individual, a unique being—a soul. The job of college is to assist you to begin to do that. Books, ideas, works of art and thought, the pressure of the minds around you that are looking for their own answers in their own ways.
  • College is not the only chance to learn to think, but it is the best. One thing is certain: If you haven’t started by the time you finish your B.A., there’s little likelihood you’ll do it later. That is why an undergraduate experience devoted exclusively to career preparation is four years largely wasted.
  • Elite schools like to boast that they teach their students how to think, but all they mean is that they train them in the analytic and rhetorical skills that are necessary for success in business and the professions.
  • Everything is technocratic—the development of expertise—and everything is ultimately justified in technocratic terms.
  • Religious colleges—even obscure, regional schools that no one has ever heard of on the coasts—often do a much better job in that respect.
  • At least the classes at elite schools are academically rigorous, demanding on their own terms, no? Not necessarily. In the sciences, usually; in other disciplines, not so much
  • professors and students have largely entered into what one observer called a “nonaggression pact.”
  • higher marks for shoddier work.
  • today’s young people appear to be more socially engaged than kids have been for several decades and that they are more apt to harbor creative or entrepreneurial impulses
  • they tend to be played out within the same narrow conception of what constitutes a valid life: affluence, credentials, prestige.
  • Experience itself has been reduced to instrumental function, via the college essay. From learning to commodify your experiences for the application, the next step has been to seek out experiences in order to have them to commodify
  • there is now a thriving sector devoted to producing essay-ready summers
  • To be a high-achieving student is to constantly be urged to think of yourself as a future leader of society.
  • what these institutions mean by leadership is nothing more than getting to the top. Making partner at a major law firm or becoming a chief executive, climbing the greasy pole of whatever hierarchy you decide to attach yourself to. I don’t think it occurs to the people in charge of elite colleges that the concept of leadership ought to have a higher meaning, or, really, any meaning.
  • The irony is that elite students are told that they can be whatever they want, but most of them end up choosing to be one of a few very similar things
  • As of 2010, about a third of graduates went into financing or consulting at a number of top schools, including Harvard, Princeton, and Cornell.
  • Whole fields have disappeared from view: the clergy, the military, electoral politics, even academia itself, for the most part, including basic science
  • It’s considered glamorous to drop out of a selective college if you want to become the next Mark Zuckerberg, but ludicrous to stay in to become a social worker. “What Wall Street figured out,” as Ezra Klein has put it, “is that colleges are producing a large number of very smart, completely confused graduates. Kids who have ample mental horsepower, an incredible work ethic and no idea what to do next.”
  • t almost feels ridiculous to have to insist that colleges like Harvard are bastions of privilege, where the rich send their children to learn to walk, talk, and think like the rich. Don’t we already know this? They aren’t called elite colleges for nothing. But apparently we like pretending otherwise. We live in a meritocracy, after all.
  • Visit any elite campus across our great nation, and you can thrill to the heart-warming spectacle of the children of white businesspeople and professionals studying and playing alongside the children of black, Asian, and Latino businesspeople and professionals
  • That doesn’t mean there aren’t a few exceptions, but that is all they are. In fact, the group that is most disadvantaged by our current admissions policies are working-class and rural whites, who are hardly present
  • The college admissions game is not primarily about the lower and middle classes seeking to rise, or even about the upper-middle class attempting to maintain its position. It is about determining the exact hierarchy of status within the upper-middle class itself.
  • This system is exacerbating inequality, retarding social mobility, perpetuating privilege, and creating an elite that is isolated from the society that it’s supposed to lead. The numbers are undeniable. In 1985, 46 percent of incoming freshmen at the 250 most selective colleges came from the top quarter of the income distribution. By 2000, it was 55 percent
  • The major reason for the trend is clear. Not increasing tuition, though that is a factor, but the ever-growing cost of manufacturing children who are fit to compete in the college admissions game
  • Wealthy families start buying their children’s way into elite colleges almost from the moment they are born: music lessons, sports equipment, foreign travel (“enrichment” programs, to use the all-too-perfect term)—most important, of course, private-school tuition or the costs of living in a place with top-tier public schools.
  • s there anything that I can do, a lot of young people have written to ask me, to avoid becoming an out-of-touch, entitled little shit? I don’t have a satisfying answer, short of telling them to transfer to a public university. You cannot cogitate your way to sympathy with people of different backgrounds, still less to knowledge of them. You need to interact with them directly, and it has to be on an equal footing
  • Elite private colleges will never allow their students’ economic profile to mirror that of society as a whole. They can’t afford to—they need a critical mass of full payers and they need to tend to their donor base—and it’s not even clear that they’d want to.
  • Elite colleges are not just powerless to reverse the movement toward a more unequal society; their policies actively promote it.
  • The SAT is supposed to measure aptitude, but what it actually measures is parental income, which it tracks quite closely
  • U.S. News and World Report supplies the percentage of freshmen at each college who finished in the highest 10 percent of their high school class. Among the top 20 universities, the number is usually above 90 percent. I’d be wary of attending schools like that. Students determine the level of classroom discussion; they shape your values and expectations, for good and ill. It’s partly because of the students that I’d warn kids away from the Ivies and their ilk. Kids at less prestigious schools are apt to be more interesting, more curious, more open, and far less entitled and competitive.
  • The best option of all may be the second-tier—not second-rate—colleges, like Reed, Kenyon, Wesleyan, Sewanee, Mount Holyoke, and others. Instead of trying to compete with Harvard and Yale, these schools have retained their allegiance to real educational values.
  • Not being an entitled little shit is an admirable goal. But in the end, the deeper issue is the situation that makes it so hard to be anything else. The time has come, not simply to reform that system top to bottom, but to plot our exit to another kind of society altogether.
  • The education system has to act to mitigate the class system, not reproduce it. Affirmative action should be based on class instead of race, a change that many have been advocating for years. Preferences for legacies and athletes ought to be discarded. SAT scores should be weighted to account for socioeconomic factors. Colleges should put an end to résumé-stuffing by imposing a limit on the number of extracurriculars that kids can list on their applications. They ought to place more value on the kind of service jobs that lower-income students often take in high school and that high achievers almost never do. They should refuse to be impressed by any opportunity that was enabled by parental wealth
  • More broadly, they need to rethink their conception of merit. If schools are going to train a better class of leaders than the ones we have today, they’re going to have to ask themselves what kinds of qualities they need to promote. Selecting students by GPA or the number of extracurriculars more often benefits the faithful drudge than the original mind.
  • reforming the admissions process. That might address the problem of mediocrity, but it won’t address the greater one of inequality
  • The problem is the Ivy League itself. We have contracted the training of our leadership class to a set of private institutions. However much they claim to act for the common good, they will always place their interests first.
  • I’ve come to see that what we really need is to create one where you don’t have to go to the Ivy League, or any private college, to get a first-rate education.
  • High-quality public education, financed with public money, for the benefit of all
  • Everybody gets an equal chance to go as far as their hard work and talent will take them—you know, the American dream. Everyone who wants it gets to have the kind of mind-expanding, soul-enriching experience that a liberal arts education provides.
  • We recognize that free, quality K–12 education is a right of citizenship. We also need to recognize—as we once did and as many countries still do—that the same is true of higher education. We have tried aristocracy. We have tried meritocracy. Now it’s time to try democracy.
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