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johnsonel7

The case for economics - by the numbers | MIT News - 0 views

  • In recent years, criticism has been levelled at economics for being insular and unconcerned about real-world problems. But a new study led by MIT scholars finds the field increasingly overlaps with the work of other disciplines, and, in a related development, has become more empirical and data-driven, while producing less work of pure theory.
  • In psychology journals, for instance, citations of economics papers have more than doubled since 2000. Public health papers now cite economics work twice as often as they did 10 years ago, and citations of economics research in fields from operations research to computer science have risen sharply as well.
  • As Angrist acknowledges, one impetus for the study was the wave of criticism the economics profession has faced over the last decade, after the banking crisis and the “Great Recession” of 2008-2009, which included the finance-sector crash of 2008. The paper’s title alludes to the film “Inside Job” — whose thesis holds that, as Angrist puts it, “economics scholarship as an academic enterprise was captured somehow by finance, and that academic economists should therefore be blamed for the Great Recession.”
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  • “If you ask me, economics has never been better,” says Josh Angrist, an MIT economist who led the study. “It’s never been more useful. It’s never been more scientific and more evidence-based.”
  • The study also details the relationship between economics and four additional social science disciplines: anthropology, political science, psychology, and sociology. Among these, political science has overtaken sociology as the discipline most engaged with economics. Psychology papers now cite economics research about as often as they cite works of sociology. The new intellectual connectivity between economics and psychology appears to be a product of the growth of behavioral economics, which examines the irrational, short-sighted financial decision-making of individuals — a different paradigm than the assumptions about rational decision-making found in neoclassical economics.
  • “It really seems to be the diversity of economics that makes it do well in influencing other fields,” Ellison says. “Operations research, computer science, and psychology are paying a lot of attention to economic theory. Sociologists are paying a lot of attention to labor economics, marketing and management are paying attention to industrial organization, statisticians are paying attention to econometrics, and the public health people are paying attention to health economics. Just about everything in economics is influential somewhere.”
katherineharron

Stimulus package: This missing piece could boost the economy (opinion) - CNN - 0 views

  • Coronavirus poses daunting challenges for economic policymakers. Public health efforts to contain the virus rely on "social distancing" by encouraging people to stay home and requiring businesses to reduce their output. In the past, the primary tools the government used to get our economy going focused on raising spending by encouraging people to do more of their usual activities. But that interferes with the public health effort against coronavirus.
  • In a typical recession, these effects are desirable. Unfortunately, what worked in previous recessions won't work for coronavirus. If schools and businesses are closed by order of public health authorities, then lower interest rates and tax cuts do not increase spending much. Instead, people are likely to save the money, undermining the stimulus effect. And if people do spend the money instead of saving it, monetary and fiscal stimulus may harm public health by encouraging people to go out and spend.
Javier E

The End of Courtship? - NYTimes.com - 0 views

  • “The word ‘date’ should almost be stricken from the dictionary,” Ms. Silver said. “Dating culture has evolved to a cycle of text messages, each one requiring the code-breaking skills of a cold war spy to interpret.”
  • Raised in the age of so-called “hookup culture,” millennials — who are reaching an age where they are starting to think about settling down — are subverting the rules of courtship.
  • Instead of dinner-and-a-movie, which seems as obsolete as a rotary phone, they rendezvous over phone texts, Facebook posts, instant messages and other “non-dates” that are leaving a generation confused about how to land a boyfriend or girlfriend.
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  • Blame the much-documented rise of the “hookup culture” among young people, characterized by spontaneous, commitment-free (and often, alcohol-fueled) romantic flings. Many students today have never been on a traditional date,
  • Hookups may be fine for college students, but what about after, when they start to build an adult life? The problem is that “young people today don’t know how to get out of hookup culture,”
  • In interviews with students, many graduating seniors did not know the first thing about the basic mechanics of a traditional date. “They’re wondering, ‘If you like someone, how would you walk up to them? What would you say? What words would you use?’ ”
  • Traditional courtship — picking up the telephone and asking someone on a date — required courage, strategic planning and a considerable investment of ego (by telephone, rejection stings). Not so with texting, e-mail, Twitter or other forms of “asynchronous communication,” as techies call it. In the context of dating, it removes much of the need for charm; it’s more like dropping a line in the water and hoping for a nibble.
  • Online dating services, which have gained mainstream acceptance, reinforce the hyper-casual approach by greatly expanding the number of potential dates. Faced with a never-ending stream of singles to choose from, many feel a sense of “FOMO” (fear of missing out), so they opt for a speed-dating approach — cycle through lots of suitors quickly.
  • “I’ve seen men put more effort into finding a movie to watch on Netflix Instant than composing a coherent message to ask a woman out,” said Anna Goldfarb, 34, an author and blogger in Moorestown, N.J. A typical, annoying query is the last-minute: “Is anything fun going on tonight?” More annoying still are the men who simply ping, “Hey” or “ ’sup.”
  • The mass-mailer approach necessitates “cost-cutting, going to bars, meeting for coffee the first time,” he added, “because you only want to invest in a mate you’re going to get more out of.”
  • in  a world where “courtship” is quickly being redefined, women must recognize a flirtatious exchange of tweets, or a lingering glance at a company softball game, as legitimate opportunities for romance, too.
  • THERE’S another reason Web-enabled singles are rendering traditional dates obsolete. If the purpose of the first date was to learn about someone’s background, education, politics and cultural tastes, Google and Facebook have taken care of that.
  • Dodgy economic prospects facing millennials also help torpedo the old, formal dating rituals. Faced with a lingering recession, a stagnant job market, and mountains of student debt, many young people — particularly victims of the “mancession” — simply cannot afford to invest a fancy dinner or show in someone they may or may not click with.
  • “Maybe there’s still a sense of a man taking care of a woman, but our ideology is aligning with the reality of our finances,” Ms. Rosin said. As a man, you might “convince yourself that dating is passé, a relic of a paternalistic era, because you can’t afford to take a woman to a restaurant.”
  • “A lot of men in their 20s are reluctant to take the girl to the French restaurant, or buy them jewelry, because those steps tend to lead to ‘eventually, we’re going to get married,’ ” Mr. Edness, 27, said. In a tight economy, where everyone is grinding away to build a career, most men cannot fathom supporting a family until at least 30 or 35, he said.
  • Even in an era of ingrained ambivalence about gender roles, however, some women keep the old dating traditions alive by refusing to accept anything less. Cheryl Yeoh, a tech entrepreneur in San Francisco, said that she has been on many formal dates of late — plays, fancy restaurants. One suitor even presented her with red roses. For her, the old traditions are alive simply because she refuses to put up with anything less. She generally refuses to go on any date that is not set up a week in advance, involving a degree of forethought. “If he really wants you,” Ms. Yeoh, 29, said, “he has to put in some effort.”
Javier E

Republicans Against Science - NYTimes.com - 1 views

  • Mr. Hunstman has been willing to say the unsayable about the G.O.P. — namely, that it is becoming the “anti-science party.” This is an enormously important development. And it should terrify us.
  • Mr. Perry, the governor of Texas, recently made headlines by dismissing evolution as “just a theory,” one that has “got some gaps in it” — an observation that will come as news to the vast majority of biologists. But what really got people's attention was what he said about climate change: “I think there are a substantial number of scientists who have manipulated data so that they will have dollars rolling into their projects. And I think we are seeing almost weekly, or even daily, scientists are coming forward and questioning the original idea that man-made global warming is what is causing the climate to change.”
  • Mr. Perry and those who think like him know what they want to believe, and their response to anyone who contradicts them is to start a witch hunt.
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  • So how has Mr. Romney, the other leading contender for the G.O.P. nomination, responded to Mr. Perry’s challenge? In trademark fashion: By running away.
  • the deepening anti-intellectualism of the political right, both within and beyond the G.O.P., extends far beyond the issue of climate change.
  • Lately, for example, The Wall Street Journal’s editorial page has gone beyond its long-term preference for the economic ideas of “charlatans and cranks” — as one of former President George W. Bush’s chief economic advisers famously put it — to a general denigration of hard thinking about matters economic. Pay no attention to “fancy theories” that conflict with “common sense,” the Journal tells us. Because why should anyone imagine that you need more than gut feelings to analyze things like financial crises and recessions?
Javier E

This is what it's like to grow up in the age of likes, lols and longing | The Washingto... - 1 views

  • She slides into the car, and even before she buckles her seat belt, her phone is alight in her hands. A 13-year-old girl after a day of eighth grade.
  • She doesn’t respond, her thumb on Instagram. A Barbara Walters meme is on the screen. She scrolls, and another meme appears. Then another meme, and she closes the app. She opens BuzzFeed. There’s a story about Florida Gov. Rick Scott, which she scrolls past to get to a story about Janet Jackson, then “28 Things You’ll Understand If You’re Both British and American.” She closes it. She opens Instagram. She opens the NBA app. She shuts the screen off. She turns it back on. She opens Spotify. Opens Fitbit. She has 7,427 steps. Opens Instagram again. Opens Snapchat. She watches a sparkly rainbow flow from her friend’s mouth. She watches a YouTube star make pouty faces at the camera. She watches a tutorial on nail art. She feels the bump of the driveway and looks up. They’re home. Twelve minutes have passed.
  • Katherine Pommerening’s iPhone is the place where all of her friends are always hanging out. So it’s the place where she is, too.
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  • “Over 100 likes is good, for me. And comments. You just comment to make a joke or tag someone.”
  • The best thing is the little notification box, which means someone liked, tagged or followed her on Instagram. She has 604 followers. There are only 25 photos on her page because she deletes most of what she posts. The ones that don’t get enough likes, don’t have good enough lighting or don’t show the coolest moments in her life must be deleted.
  • Sociologists, advertisers, stock market analysts – everyone wants to know what happens when the generation born glued to screens has to look up and interact with the world.
  • “It kind of, almost, promotes you as a good person. If someone says, ‘tbh you’re nice and pretty,’ that kind of, like, validates you in the comments. Then people can look at it and say ‘Oh, she’s nice and pretty.’ ”
  • School is where she thrives: She is beloved by her teachers, will soon star as young Simba in the eighth-grade performance of “The Lion King” musical, and gets straight A’s. Her school doesn’t offer a math course challenging enough for her, so she takes honors algebra online through Johns Hopkins University.
  • “Happy birthday posts are a pretty big deal,” she says. “It really shows who cares enough to put you on their page.”
  • He checks the phone bill to see who she’s called and how much she’s been texting, but she barely calls anyone and chats mostly through Snapchat, where her messages disappear.
  • Some of Katherine’s very best friends have never been to her house, or she to theirs. To Dave, it seems like they rarely hang out, but he knows that to her, it seems like they’re together all the time.
  • Dave Pommerening wants to figure out how to get her to use it less. One month, she ate up 18 gigabytes of data. Most large plans max out at 10. He intervened and capped her at four GB. “I don’t want to crimp it too much,” he says. “That’s something, from my perspective, I’m going to have to figure out, how to get my arms around that.”
  • Even if her dad tried snooping around her apps, the true dramas of teenage girl life are not written in the comments. Like how sometimes, Katherine’s friends will borrow her phone just to un-like all the Instagram photos of girls they don’t like. Katherine can’t go back to those girls’ pages and re-like the photos because that would be stalking, which is forbidden.
  • Or how last week, at the middle school dance, her friends got the phone numbers of 10 boys, but then they had to delete five of them because they were seventh-graders. And before she could add the boys on Snapchat, she realized she had to change her username because it was her childhood nickname and that was totally embarrassing.
  • Then, because she changed her username, her Snapchat score reverted to zero. The app awards about one point for every snap you send and receive. It’s also totally embarrassing and stressful to have a low Snapchat score. So in one day, she sent enough snaps to earn 1,000 points.
  • Snapchat is where flirting happens. She doesn’t know anyone who has sent a naked picture to a boy, but she knows it happens with older girls, who know they have met the right guy.
  • Nothing her dad could find on her phone shows that for as good as Katherine is at math, basketball and singing, she wants to get better at her phone. To be one of the girls who knows what to post, how to caption it, when to like, what to comment.
  • Katherine doesn’t need magazines or billboards to see computer-perfect women. They’re right on her phone, all the time, in between photos of her normal-looking friends. There’s Aisha, there’s Kendall Jenner’s butt. There’s Olivia, there’s YouTube star Jenna Marbles in lingerie.
  • The whole world is at her fingertips and has been for years. This, Katherine offers as a theory one day, is why she doesn’t feel like she’s 13 years old at all. She’s probably, like, 16.
  • “I don’t feel like a child anymore” she says. “I’m not doing anything childish. At the end of sixth grade” — when all her friends got phones and downloaded Snapchat, Instagram and Twitter — “I just stopped doing everything I normally did. Playing games at recess, playing with toys, all of it, done.”
  • Her scooter sat in the garage, covered in dust. Her stuffed animals were passed down to Lila. The wooden playground in the back yard stood empty. She kept her skateboard with neon yellow wheels, because riding it is still cool to her friends.
  • On the morning of her 14th birthday, Katherine wakes up to an alarm ringing on her phone. It’s 6:30 a.m. She rolls over and shuts it off in the dark. Her grandparents, here to celebrate the end of her first year of teenagehood, are sleeping in the guest room down the hall. She can hear the dogs shuffling across the hardwood downstairs, waiting to be fed. Propping herself up on her peace-sign-covered pillow, she opens Instagram. Later, Lila will give her a Starbucks gift card. Her dad will bring doughnuts to her class. Her grandparents will take her to the Melting Pot for dinner. But first, her friends will decide whether to post pictures of Katherine for her birthday. Whether they like her enough to put a picture of her on their page. Those pictures, if they come, will get likes and maybe tbhs. They should be posted in the morning, any minute now. She scrolls past a friend posing in a bikini on the beach. Then a picture posted by Kendall Jenner. A selfie with coffee. A basketball Vine. A selfie with a girl’s tongue out. She scrolls, she waits. For that little notification box to appear.
Javier E

The Anger Wave That May Just Wipe Out Laissez-Faire Economics - The New York Times - 1 views

  • few would have guessed that the economic order built upon Mr. Reagan’s and Mrs. Thatcher’s common faith in unfettered global markets (and largely accepted by their more liberal successors Bill Clinton and Tony Blair) would be brought down by right-wing populists riding the anger of a working class that has been cast aside in the globalized economy that the two leaders trumpeted 40 years ago.
  • The so-called Brexit vote was driven by an inchoate sense among older white workers with modest education that they have been passed over, condemned by forces beyond their control to an uncertain job for little pay in a world where their livelihoods are challenged not just by cheap Asian workers halfway around the world, but closer to home by waves of immigrants of different faiths and skin tones.
  • It is the same frustration that has buoyed proto-fascist political parties across Europe. It is the same anger fueling the candidacy of Mr. Trump in the United States.
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  • Mr. Trump, the bombastic businessman who’s never held office, and Mr. Johnson, the former journalist turned mayor of London, might not put it this way, since they continue to cling to a conservative mantle. But they are riding a revolt of the working class against a 40-year-long project of the political right and its corporate backers that has dominated policy making in the English-speaking world for a generation.
  • The British political scientist Andrew Gamble at the University of Cambridge has argued that Western capitalism has experienced two transformational crises since the end of the 19th century. The first, brought about by the Depression of the 1930s, ended an era in which governments bowed to the gospel of the gold standard and were expected to butt out of the battles between labor and capital, letting markets function on their own, whatever the consequences
  • Mr. Keynes’s views ultimately prevailed, though, providing the basis for a new post-World War II orthodoxy favoring active government intervention in the economy and a robust welfare state. But that era ended when skyrocketing oil prices and economic mismanagement in the 1970s brought about a combination of inflation and unemployment that fatally undermined people’s trust in the state.
  • The Keynesian era ended when Margaret Thatcher and Ronald Reagan rode onto the scene with a version of capitalism based on tax cuts, privatization and deregulation that helped revive their engines of growth but led the workers of the world to the deeply frustrating, increasingly unequal economy of today.
  • After the Brexit vote, Lawrence Summers, former Treasury secretary under President Clinton and one of President Obama’s top economic advisers at the nadir of the Great Recession, laid out an argument for what he called “responsible nationalism,” which focused squarely on the interests of domestic workers.
  • Instead of negotiating more agreements to ease business across borders, governments would focus on deals to improve labor and environmental standards internationally. They might cut deals to prevent cross-border tax evasion.
  • There is, however, little evidence that the world’s leaders will go down that path. Despite the case for economic stimulus, austerity still rules across much of the West. In Europe, most governments have imposed stringent budget cuts — ensuring that all but the strongest economies would stall. In the United States, political polarization has brought fiscal policy — spending and taxes — to a standstill.
Duncan H

Can Santorum Win in November? - NYTimes.com - 1 views

  • If one were to invent a Republican politician whose background and beliefs were ideally suited to a general-election campaign against Barack Obama, that dream candidate would share a number of qualities with Rick Santorum.
  • He would hail from the Midwest – a region filled with recession-battered swing states where the president’s support is weaker than in the country as a whole. He would be a Catholic rather than an Evangelical or a Mormon, because the Catholic vote swings back and forth between the two parties in ways that other religious demographics don’t. He would have a strong personal and biographical connection to blue-collar whites, a bloc of voters whose support President Obama has always had difficulty winning. His record would be conservative enough to excite the Republican Party’s base, but leavened with enough moderation and even populism on economic issues to reassure anxious middle-income voters that the Republican Party doesn’t just exist to serve Wall Street and the rich.
  • Santorum checks all of these boxes, while Mitt Romney – his Michigan ties and attempts to play the tribune of the middle class notwithstanding – decidedly does not. Which is why, as Romney flails and Santorum rises, a few pundits have found themselves tiptoeing toward what seems like the most counterintuitive of all possible conclusions: The possibility that the long-shot former senator from Pennsylvania, not his supposedly more electable rival, might stand a better chance of winning in November.
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  • This idea seems laughable if you assume that most swing voters are fiscal conservatives and social moderates, allergic to culture-war appeals and pining for a dream ticket of Michael Bloomberg and Olympia Snowe. But as New York magazine’s Jonathan Chait has explained, there’s more than one kind of “moderate” in American politics:
  • There are, very roughly speaking, two kinds of swing voters. One kind is economically conservative, socially liberal swing voters. This is the kind of voter you usually read about, because it’s the kind most familiar to political reporters – affluent and college educated. But there’s a second kind of voter at least as numerous – economically populist and socially conservative. Think of disaffected blue-collar workers, downscale white men who love guns, hate welfare, oppose free trade, and want higher taxes on the rich and corporations. Romney appeals to the former, but Santorum more to the latter
  • That’s because the former senator has the instincts of an activist, rather than of a president or statesman.
  • a Rust Belt background would be a potential advantage for a Republican presidential candidate. But a Rust Belt background that includes an 17-point repudiation from the Pennsylvania electorate that knew Santorum best looks more like a liability instead.
  • both Catholicism and social conservatism are potential assets in a campaign against a president who has spoken condescendingly about Middle Americans who “get bitter” and “cling to guns or religion.” But a Catholic conservatism that manifests itself in campaign-trail critiques of contraception promises to alienate many more voters (female voters, especially) than it attracts.
  • All things being equal, a populist style that’s at odds with the Acela corridor’s attitudes and values can often play well in the heartland. But no presidential candidate can succeed without a modicum of favorable media coverage, and so a successful populist needs to be able to disarm elite journalists (as Huckabee so expertly did, schmoozing on The Daily Show and elsewhere) as often as he alienates them. And nobody has ever used the word “disarming” to describe Rick Santorum’s approach to politics.
  • his political persona is worlds away from the Washington-New York definitions of “middle-of-the-road.” But a mix of social conservatism and economic populism has a great deal of general-election potential – especially in a contest against a president whose style of liberalism can seem professorial, condescending and aloof.
  • Whether the topic is social issues or foreign policy, his zeal exceeds his prudence, and as a result his career is littered with debating society provocations (referencing “man-on-dog” sex in an argument about gay marriage, using his doomed 2006 Senate bid to educate Pennsylvanians on the evils of Hugo Chavez, etc.) that have won him far more enemies than friends. His passion for ideas and argument often does him credit, but in a national campaign it would probably do him in.
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    Interesting article on Santorum's chances in the general election.
Emily Freilich

In Fiery Protest, Italian Museum Sets Art Ablaze : NPR - 0 views

  • Manfredi's "art war" consists of setting works of art on fire to protest cuts to Italy's arts budget. He's pledged to incinerate two or three pieces of art each week from a museum collection housing about 1,000 exhibits.
  • The budgets of state-run museums, archaeological sites and libraries are among the hardest hit.
  • not just about funding, but also an appeal for moral help and attention from authorities.
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  • "We want the institutions in Italy and around the world to understand that the culture is very important," he says. "And it's not possible when there is an economic problem in the world, [that] the first that the government destroys is the art."
  • Italian government spending on the arts has been slashed by some 76 percent over the past two years.
  • during the recession — when people don't have money to buy gasoline — the number of visitors to museums and archaeological sites is actually growing. Resca looks to the Greek philosopher Aristotle to explain the phenomenon. "He said that during successful period[s], culture was an ornament," Resca says. "In bad periods, culture is a big shelter.
Javier E

Our Cold Civil War Intensifies, Ctd « The Dish - 0 views

  • Taken alone, it would appear both sides share equal blame for the present political paralysis as each shifts to their ideological poles.
  • while both sides may be guilty of running to their respective corners, one is clearly more liable for putting the kibosh on negotiation deal-making.
  • one gets more liberal, the more he or she wants elected officials who compromise.
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  • only the Republicans are carrying out a primary purification to fit their no-compromise dispositions.
  • polarization per se is not the current critical crisis – it’s a refusal to compromise, to reach out from one’s ideological end of the spectrum to meet in the middle (where most of us already are), and demanding that one’s representatives refuse to negotiate to get things done and better the country.
  • A consistently liberal position is fine if you’re prepared to meet the other side halfway – and vice-versa of course. In fact, sometimes a strong position can help facilitate a real deal.
  • it’s the GOP that is the outlier, and long has been.
  • Liberals and conservatives are coming to rely on different worldviews motivated by different interpretations of what “reality” is. The Republican party has clearly decided that the only path open to them is to further embrace the resentment exhibited in rural, displaced white voters – people whose concerns have been unconscionably ignored but who have directed their anger at an entirely inappropriate target. They see Obama as the enemy but they vote for the people who are their real enemies.
  • If you think about it point by point, it becomes even less sensible. The debt? That was a result of Bush’s unfunded wars, irresponsible tax cuts and his corporatist Medicare expansion (which was itself just a subsidy for drug companies). The recession? A logical endpoint of a decades-long abandonment of responsible financial regulation. Immigration? There have been no significant changes to our immigration law since 1986, when Saint Reagan pushed through a bill that provided legal status to many who were undocumented – and the right conveniently proceeded to forget that. Ditto with gun control, since Reagan supported the Brady Bill publicly, and that clearly must be erased from the record.
  • The left, by contrast, did not throw Democrats out of office for supporting the Bush tax cuts. It did not throw Democrats out of office for opposing cap-and-trade legislation, immigration reform, or for stonewalling Obamacare until the very last minute when Scott Brown’s surprise election made inaction untenable. The left complained about these realities but never pretended that the reality was any different than what it was; we had the best we could get and that while Obama has let us down on specific issues, he has been a wholly underappreciated president – and history will very likely vindicate him
Javier E

Checking Privilege Checking - Phoebe Maltz Bovy - The Atlantic - 0 views

  • While privilege is nothing new, the term “privilege” is everywhere in post-recession America, not just on college campuses.
  • The ideas of Peggy “Invisible Knapsack” McIntosh and Pierre “Cultural Capital” Bourdieu have trickled into the culture.
  • “Privilege” isn't merely unearned advantage—it implies entitlement. To say that someone “comes across as privileged” is to call that person clueless and insensitive.
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  • to stand accused of privilege, one need not actually possess the form of privilege in question.
  • To call someone “privileged” is to say that his or her successes are undeserved. It’s a personal insult posing as social critique.
  • Use of the term “privilege” has, I’d argue, actually set back the cultural conversation about privilege. It's not just that “privilege,” when used as an accusation, silences. It’s also that it’s made cluelessness a greater crime than inequality. These ubiquitous expressions—“check your privilege” or “your privilege is showing”—ask the accused to own up to privilege, not to do anything about it.
  • There may be a vague, implied hope that privilege checking will lead to efforts to remedy some injustice, but the more direct concern is not coming across as entitled, not offending anyone underprivileged
  • more typically, it’s a way for someone privileged to play self-appointed spokesperson for the marginalized, so as to win a sensitivity competition with others similarly aloof.
  • Having the privilege conversation is itself an expression of privilege.
  • It’s not just that commenting online about privilege—or any other topic—suggests leisure time. It’s also that the vocabulary of “privilege” is learned at liberal-arts colleges or in highbrow publications.
  • A certain sort of self-deprecating privilege awareness has become, in effect, upper- or upper-middle-class good manners, maybe even a new form of noblesse oblige, reinforcing class divides.
  • because “privileged” is essentially an epithet, it ends up encouraging privilege denial. “Your privilege is showing” inspires—and Fortgang's essay is just the latest example of this—all these selective histories of people's upbringings (or, if they grew up truly "blessed," that of their parents or grandparents) to create the illusion of scrappiness and an upward trajectory.
  • he self-deprecatory, class-signaling approach might (but rarely does) serve as a first step towards genuine self-examination and, in turn, some broader social-justice commitment. But the main result of privilege talk is scrappiness one-upmanship among the privileged.
Ellie McGinnis

Why Do Some Brains Enjoy Fear? - Allegra Ringo - The Atlantic - 1 views

  • One of the most interesting things about studying fear is looking at the social constructions of fear, and learned fears versus those fears that appear to be more innate, or even genetic
  • Through fear conditioning (connecting a neutral stimulus with a negative consequence) we can link pretty much anything to a fear response.
  • So we know that we can learn to fear, and this means our socialization and the society in which we are raised is going to have a lot to do with what we find scary.
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  • This speaks to the fact that things that violate the laws of nature are terrifying. And really anything that doesn’t make sense or causes us some sort of dissonance, whether it is cognitive or aesthetic, is going to be scary (axe-wielding animals, masked faces, contorted bodies).
  • Humans are obsessed with death; we simply have a hard time wrapping our mind around what happens when we die.
  • Humans have been scaring themselves and each other since the birth of the species, through all kinds of methods like storytelling, jumping off cliffs, and popping out to startle each other from the recesses of some dark cave.
  • to build group unity, to prepare kids for life in the scary world, and, of course, to control behavior.
  • These scary stories provided, and continue to deliver, intrigue, exhilaration, and a jolt of excitement to our lives.
  • One of the reasons people love Halloween is because it produces strong emotional responses, and those responses work to build stronger relationships and memories. When we’re happy, or afraid, we’re releasing powerful hormones, like oxcytocin, that are working to make these moments stick in our brain. So we’re going to remember the people we’re with. If it was a good experience, then we’ll remember them fondly and feel close to them, more so than if we were to meet them during some neutral unexciting event.
  • We’re social and emotional beings. We need each other in times of stress, so the fact that our bodies have evolved to make sure we feel close to those we are with when afraid makes sense.
Javier E

Triumph of the Unthinking - NYTimes.com - 0 views

  • “Words,” wrote John Maynard Keynes, “ought to be a little wild, for they are the assault of thoughts on the unthinking.”
  • It’s true that in practice Mr. Obama pushed through a stimulus that, while too small and short-lived, helped diminish the depth and duration of the slump. But when Republicans began talking nonsense, declaring that the government should match the belt-tightening of ordinary families — a recipe for full-on depression — Mr. Obama didn’t challenge their position. Instead, within a few months the very same nonsense became a standard line in his speeches, even though his economists knew better, and so did he.
  • Like Mr. Obama and company, Labour’s leaders probably know better, but have decided that it’s too hard to overcome the easy appeal of bad economics, especially when most of the British news media report this bad economics as truth.
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  • What nonsense am I talking about? Simon Wren-Lewis of the University of Oxford, who has been a tireless but lonely crusader for economic sense, calls it “mediamacro.” It’s a story about Britain that runs like this: First, the Labour government that ruled Britain until 2010 was wildly irresponsible, spending far beyond its means. Second, this fiscal profligacy caused the economic crisis of 2008-2009. Third, this in turn left the coalition that took power in 2010 with no choice except to impose austerity policies despite the depressed state of the economy. Finally, Britain’s return to economic growth in 2013 vindicated austerity and proved its critics wrong.
  • every piece of this story is demonstrably, ludicrously wrong
  • Yet this nonsense narrative completely dominates news reporting, where it is treated as a fact rather than a hypothesis. And Labour hasn’t tried to push back, probably because they considered this a political fight they couldn’t win. But why?
  • Mr. Wren-Lewis suggests that it has a lot to do with the power of misleading analogies between governments and households, and also with the malign influence of economists working for the financial industry, who in Britain as in America constantly peddle scare stories about deficits and pay no price for being consistently wrong. If U.S. experience is any guide, my guess is that Britain also suffers from the desire of public figures to sound serious, a pose which they associate with stern talk about the need to make hard choices (at other people’s expense, of course.)
  • The fact is that Britain and America didn’t need to make hard choices in the aftermath of crisis. What they needed, instead, was hard thinking — a willingness to understand that this was a special environment, that the usual rules don’t apply in a persistently depressed economy, one in which government borrowing doesn’t compete with private investment and costs next to nothing.
Javier E

Many on Wall Street Say It Remains Untamed - NYTimes.com - 0 views

  • virtually all the large firms said that if there was bad behavior, it is behind them.Well, it isn’t.
  • A new report on financial professionals’ views of their industry paints a troubling picture. Rather than indicating that Wall Street has cleaned itself up, it suggests that many of the lessons of the crisis still haven’t been learned.
  • about a third of the people who said they made more than $500,000 annually contend that they “have witnessed or have firsthand knowledge of wrongdoing in the workplace.”
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  • “Nearly one in five respondents feel financial service professionals must sometimes engage in unethical or illegal activity to be successful in the current financial environment.”
  • One in 10 said they had directly felt pressure “to compromise ethical standards or violate the law.”
  • And nearly half of the high-income earners say law enforcement and regulatory authorities in their country are ineffective “in detecting, investigating and prosecuting securities violations.”
  • expanded its questionnaire to more than 1,200 traders, portfolio managers, investment bankers and hedge fund professionals both in the United States and Britain
  • Its results appear even more noteworthy today for the sheer number of individuals who continue to say the ethics of the industry remain unchanged since the crisis (a third said that, by the way)
Javier E

The M.I.T. Gang - The New York Times - 0 views

  • what distinguishes M.I.T. economics, and why does it matter? To answer that question, you need to go back to the 1970s, when all the people I’ve just named went to graduate school.
  • At the time, the big issue was the combination of high unemployment with high inflation. The coming of stagflation was a big win for Milton Friedman, who had predicted exactly that outcome if the government tried to keep unemployment too low for too long; it was widely seen, rightly or (mostly) wrongly, as proof that markets get it right and the government should just stay out of the way
  • Or to put it another way, many economists responded to stagflation by turning their backs on Keynesian economics and its call for government action to fight recessions.
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  • At M.I.T., however, Keynes never went away. To be sure, stagflation showed that there were limits to what policy can do. But students continued to learn about the imperfections of markets and the role that monetary and fiscal policy can play in boosting a depressed economy.
  • And the M.I.T. students of the 1970s enlarged on those insights in their later work. Mr. Blanchard, for example, showed how small deviations from perfect rationality can have large economic consequences; Mr. Obstfeld showed that currency markets can sometimes experience self-fulfilling panic.
  • This open-minded, pragmatic approach was overwhelmingly vindicated after crisis struck in 2008. Chicago-school types warned incessantly that responding to the crisis by printing money and running deficits would lead to 70s-type stagflation, with soaring inflation and interest rates. But M.I.T. types predicted, correctly, that inflation and interest rates would stay low in a depressed economy, and that attempts to slash deficits too soon would deepen the slump.
  • The truth, although nobody will believe it, is that the economic analysis some of us learned at M.I.T. way back when has worked very, very well for the past seven years.
  • But has the intellectual success of M.I.T. economics led to comparable policy success? Unfortunately, the answer is no.
  • True, there have been some important monetary successes. The Fed, led by Mr. Bernanke, ignored right-wing pressure and threats — Rick Perry, as governor of Texas, went so far as to accuse him of treason — and pursued an aggressively expansionary policy that helped limit the damage from the financial crisis. In Europe, Mr. Draghi’s activism has been crucial to calming financial markets, probably saving the euro from collapse. Continue reading the main story 215 Comments
  • On other fronts, however, the M.I.T. gang’s good advice has been ignored. The I.M.F.’s research department, under Mr. Blanchard’s leadership, has done authoritative work on the effects of fiscal policy, demonstrating beyond any reasonable doubt that slashing spending in a depressed economy is a terrible mistake, and that attempts to reduce high levels of debt via austerity are self-defeating. But European politicians have slashed spending and demanded crippling austerity from debtors anyway.
  • Meanwhile, in the United States, Republicans have responded to the utter failure of free-market orthodoxy and the remarkably successful predictions of much-hated Keynesians by digging in even deeper, determined to learn nothing from experience.
  • being right isn’t necessarily enough to change the world. But it’s still better to be right than to be wrong, and M.I.T.-style economics, with its pragmatic openness to evidence, has been very right indeed
Javier E

The American Scholar: The Lottery Society - William Deresiewicz - 1 views

  • I think it’s great when rich people do good things with their money. I think it’s appalling that we need them to. To put it bluntly, the money that the Brins and Bloombergs have to shower down on a fortunate few—that money, and a great deal more besides—should be taxed away and allocated by democratic means.
  • the problem goes beyond taxation. Markets allocate resources, but governments structure markets. Never mind that the rich don’t pay enough in taxes. (And as we know, it isn’t even that they don’t pay more than the rest of us. In a lot of cases, they pay a great deal less.) They shouldn’t be in a position to make that kind of money in the first place.
  • You want to tell me that they earned it? Earned is a moral term. How do you measure the share of the money that somebody gets that they actually “earn”? From 1978 to 2011, the average worker’s pay went up by 6 percent. The average compensation of a CEO went up by 727 percent. Do you really believe that executives earned a raise that’s 120 times greater than their workers did?
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  • The problem is the way that wealth has come to be distributed. The share of national income that accrues to the top one percent, which had stayed at about 10 percent from 1954 to 1980, has risen to about 23 percent. In a $15 trillion economy, the difference represents a premium of almost $2 trillion a year, or more than twice the current annual federal budget deficit. As far as I’m concerned, that money belongs to the rest of us, especially the bottom 80 percent, whether in the form of increased pay or higher public spending. By manipulating the legislative and legal systems—which is to say, by buying them—the rich have simply stolen it.
  • The outcome is the lottery society that’s with us now. Social mobility has slowed to a crawl. If you work hard and play by the rules, it probably won’t make a damn bit of difference
Javier E

How the Internet Gets Inside Us : The New Yorker - 0 views

  • It isn’t just that we’ve lived one technological revolution among many; it’s that our technological revolution is the big social revolution that we live with
  • The idea, for instance, that the printing press rapidly gave birth to a new order of information, democratic and bottom-up, is a cruel cartoon of the truth. If the printing press did propel the Reformation, one of the biggest ideas it propelled was Luther’s newly invented absolutist anti-Semitism. And what followed the Reformation wasn’t the Enlightenment, a new era of openness and freely disseminated knowledge. What followed the Reformation was, actually, the Counter-Reformation, which used the same means—i.e., printed books—to spread ideas about what jerks the reformers were, and unleashed a hundred years of religious warfare.
  • Robert K. Logan’s “The Sixth Language,” begins with the claim that cognition is not a little processing program that takes place inside your head, Robby the Robot style. It is a constant flow of information, memory, plans, and physical movements, in which as much thinking goes on out there as in here. If television produced the global village, the Internet produces the global psyche: everyone keyed in like a neuron, so that to the eyes of a watching Martian we are really part of a single planetary brain. Contraptions don’t change consciousness; contraptions are part of consciousness.
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  • In a practical, immediate way, one sees the limits of the so-called “extended mind” clearly in the mob-made Wikipedia, the perfect product of that new vast, supersized cognition: when there’s easy agreement, it’s fine, and when there’s widespread disagreement on values or facts, as with, say, the origins of capitalism, it’s fine, too; you get both sides. The trouble comes when one side is right and the other side is wrong and doesn’t know it. The Shakespeare authorship page and the Shroud of Turin page are scenes of constant conflict and are packed with unreliable information. Creationists crowd cyberspace every bit as effectively as evolutionists, and extend their minds just as fully. Our trouble is not the over-all absence of smartness but the intractable power of pure stupidity, and no machine, or mind, seems extended enough to cure that.
  • “The medium does matter,” Carr has written. “As a technology, a book focuses our attention, isolates us from the myriad distractions that fill our everyday lives. A networked computer does precisely the opposite. It is designed to scatter our attention. . . . Knowing that the depth of our thought is tied directly to the intensity of our attentiveness, it’s hard not to conclude that as we adapt to the intellectual environment of the Net our thinking becomes shallower.”
  • when people struggle to describe the state that the Internet puts them in they arrive at a remarkably familiar picture of disassociation and fragmentation. Life was once whole, continuous, stable; now it is fragmented, multi-part, shimmering around us, unstable and impossible to fix.
  • The odd thing is that this complaint, though deeply felt by our contemporary Better-Nevers, is identical to Baudelaire’s perception about modern Paris in 1855, or Walter Benjamin’s about Berlin in 1930, or Marshall McLuhan’s in the face of three-channel television (and Canadian television, at that) in 1965.
  • If all you have is a hammer, the saying goes, everything looks like a nail; and, if you think the world is broken, every machine looks like the hammer that broke it.
  • Blair argues that the sense of “information overload” was not the consequence of Gutenberg but already in place before printing began.
  • Anyway, the crucial revolution was not of print but of paper: “During the later Middle Ages a staggering growth in the production of manuscripts, facilitated by the use of paper, accompanied a great expansion of readers outside the monastic and scholastic contexts.” For that matter, our minds were altered less by books than by index slips. Activities that seem quite twenty-first century, she shows, began when people cut and pasted from one manuscript to another; made aggregated news in compendiums; passed around précis. “Early modern finding devices” were forced into existence: lists of authorities, lists of headings.
  • The book index was the search engine of its era, and needed to be explained at length to puzzled researchers—as, for that matter, did the Hermione-like idea of “looking things up.” That uniquely evil and necessary thing the comprehensive review of many different books on a related subject, with the necessary oversimplification of their ideas that it demanded, was already around in 1500, and already being accused of missing all the points.
  • at any given moment, our most complicated machine will be taken as a model of human intelligence, and whatever media kids favor will be identified as the cause of our stupidity. When there were automatic looms, the mind was like an automatic loom; and, since young people in the loom period liked novels, it was the cheap novel that was degrading our minds. When there were telephone exchanges, the mind was like a telephone exchange, and, in the same period, since the nickelodeon reigned, moving pictures were making us dumb. When mainframe computers arrived and television was what kids liked, the mind was like a mainframe and television was the engine of our idiocy. Some machine is always showing us Mind; some entertainment derived from the machine is always showing us Non-Mind.
  • What we live in is not the age of the extended mind but the age of the inverted self. The things that have usually lived in the darker recesses or mad corners of our mind—sexual obsessions and conspiracy theories, paranoid fixations and fetishes—are now out there: you click once and you can read about the Kennedy autopsy or the Nazi salute or hog-tied Swedish flight attendants. But things that were once external and subject to the social rules of caution and embarrassment—above all, our interactions with other people—are now easily internalized, made to feel like mere workings of the id left on its own.
  • A social network is crucially different from a social circle, since the function of a social circle is to curb our appetites and of a network to extend them.
  • And so the peacefulness, the serenity that we feel away from the Internet, and which all the Better-Nevers rightly testify to, has less to do with being no longer harried by others than with being less oppressed by the force of your own inner life. Shut off your computer, and your self stops raging quite as much or quite as loud.
  • Now television is the harmless little fireplace over in the corner, where the family gathers to watch “Entourage.” TV isn’t just docile; it’s positively benevolent. This makes you think that what made television so evil back when it was evil was not its essence but its omnipresence. Once it is not everything, it can be merely something. The real demon in the machine is the tirelessness of the user.
  • the Internet screen has always been like the palantír in Tolkien’s “Lord of the Rings”—the “seeing stone” that lets the wizards see the entire world. Its gift is great; the wizard can see it all. Its risk is real: evil things will register more vividly than the great mass of dull good. The peril isn’t that users lose their knowledge of the world. It’s that they can lose all sense of proportion. You can come to think that the armies of Mordor are not just vast and scary, which they are, but limitless and undefeatable, which they aren’t.
Javier E

In Jobless Youth, U.S. Is Said to Pay High Price - NYTimes.com - 0 views

  • “When you have an entire generation of people that are out of work, it’s going to create tremendous costs for taxpayers both now and in the future.”
  • Fifteen percent of workers ages 16 to 24 are unemployed, compared with 7.3 percent of all workers. That does not include young people who are not working because they are in school, who are no longer looking for work or who were too discouraged to begin a job search.
  • The report is the latest in several detailing the disproportionate effect of the recession on young people and their lifetime earnings. The findings have renewed interest in programs that long ago went out of fashion, like apprenticeships and vocational high schools.
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  • youth work programs went out of style in the 1980s, as the baby boom generation stopped needing them.
  • Now, struggles among white, middle-class young people have helped bring the issue back to the fore, he said. “They’re not getting traction,” he added. “The fear that’s the strongest of all is that young people won’t be middle class anymore.”
  • Still, Mr. Carnevale said, “Spending for retirement is crowding out investment in young people, especially human capital investment.”
  • Young Invincibles said that federal youth jobs programs had been cut by $1 billion a year since 2002, and recommended expanding the Labor Department’s registered apprenticeship program and AmeriCorps, a national service program that had more than half a million applicants last year for about 80,000 positions, Mr. O’Sullivan said. It also advocates restoring financing to Youth Opportunity Grants, which were aimed at at-risk youth and were ended in 2005.
maddieireland334

Who Spewed That Abuse? Anonymous Yik Yak App Isn't Telling - 0 views

  •  
    During a brief recess in an honors course at Eastern Michigan University last fall, a teaching assistant approached the class's three female professors. "I think you need to see this," she said, tapping the icon of a furry yak on her iPhone. The app opened, and the assistant began scrolling through the feed.
Javier E

A New Report Argues Inequality Is Causing Slower Growth. Here's Why It Matters. - NYTim... - 0 views

  • Is income inequality holding back the United States economy? A new report argues that it is, that an unequal distribution in incomes is making it harder for the nation to recover from the recession
  • The fact that S.&P., an apolitical organization that aims to produce reliable research for bond investors and others, is raising alarms about the risks that emerge from income inequality is a small but important sign of how a debate that has been largely confined to the academic world and left-of-center political circles is becoming more mainstream.
  • “Our review of the data, as well as a wealth of research on this matter, leads us to conclude that the current level of income inequality in the U.S. is dampening G.D.P. growth,” the S.&P. researchers write
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  • To understand why this matters, you have to know a little bit about the many tribes within the world of economics.
  • There are the academic economists who study the forces shaping the modern economy. Their work is rigorous but often obscure. Some of them end up in important policy jobs (See: Bernanke, B.) or write books for a mass audience (Piketty, T.), but many labor in the halls of academia for decades writing carefully vetted articles for academic journals that are rigorous as can be but are read by, to a first approximation, no one.
  • Then there are the economists in what can broadly be called the business forecasting community. They wear nicer suits than the academics, and are better at offering a glib, confident analysis of the latest jobs numbers delivered on CNBC or in front of a room full of executives who are their clients. They work for ratings firms like S.&P., forecasting firms like Macroeconomic Advisers and the economics research departments of all the big banks.
  • they are trying to do the practical work of explaining to clients — companies trying to forecast future demand, investors trying to allocate assets — how the economy is likely to evolve. They’re not really driven by ideology, or by models that are rigorous enough in their theoretical underpinnings to pass academic peer review. Rather, their success or failure hinges on whether they’re successful at giving those clients an accurate picture of where the economy is heading.
  • worries that income inequality is a factor behind subpar economic growth over the last five years (and really the last 15 years) is going from an idiosyncratic argument made mainly by left-of center economists to something that even the tribe of business forecasters needs to wrestle with.
  • Because the affluent tend to save more of what they earn rather than spend it, as more and more of the nation’s income goes to people at the top income brackets, there isn’t enough demand for goods and services to maintain strong growth, and attempts to bridge that gap with debt feed a boom-bust cycle of crises, the report argues. High inequality can feed on itself, as the wealthy use their resources to influence the political system toward policies that help maintain that advantage, like low tax rates on high incomes and low estate taxes, and underinvestment in education and infrastructur
  • The report itself does not break any major new analytical or empirical ground. It spends many pages summarizing the findings of various academic and government economists who have studied inequality and its discontents, and stops short of recommending any radical policy changes
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.
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