The problems of the economics profession

Ronald Coase has an interesting new piece titled Saving economics from the economics profession. You may like to see What is wrong with Economics on this blog.

Last week, in the US, I heard that the number of Ph.D. graduates coming out vastly exceeds the number of academic job openings. Most economics Ph.Ds. are . . . → Read More: The problems of the economics profession

Educational Scalability

Richard Posner [Hat tip]:

Finally, I am not clear what we should think the problem of American education (below the college level) is. Most children of middle-class (say upper quartile of households, income starting at $80,000) Americans are white or Asian and attend good public or private schools, usually predominantly white. The average white . . . → Read More: Educational Scalability

The Squirrel and the Grasshopper

The text below was forwarded to me a few years ago and I rediscovered it today. I’ve edited it to take out Australian specific references. The Squirrel and the Grasshopper story really resonated with me when I first heard it as a kid. I thought the squirrel was prudent. I’m sure other kids felt . . . → Read More: The Squirrel and the Grasshopper

Government-Imposed Failure

Chuck has good idea for reforming education:

Sometimes you hear lamentation over the fact that teachers aren’t regarded with proper levels of esteem. That we have star athletes but no star teachers even when most students would benefit more from the latter. A possible solution to that problem with a keener eye for improving . . . → Read More: Government-Imposed Failure

Unhappy Dependence Day

In my childhood and teen years, “going to the mall” meant going to the grand expanse stretching from the United States Capitol building to the Lincoln Memorial, with the Washington Monument in the center, bordered by the Smithsonian Institution’s museums and by federal government buildings along Constitution Avenue on the north, and Independence Avenue . . . → Read More: Unhappy Dependence Day

Gigantic Waste of Time

The NYT on the value of introductory economic classes:

Needless to say, a course can be valuable even if unpleasant. Unfortunately, however, most students seem to emerge from introductory economics courses without having learned even the most important basic principles. According to one recent study, their ability to answer simple economic questions several . . . → Read More: Gigantic Waste of Time

Barry Ritholtz’s Tiny Mistake

Barry weighs in on the education bubble:

“He thinks it’s fundamentally wrong for a society to pin people’s best hope for a better life on something that is by definition exclusionary. “If Harvard were really the best education, if it makes that much of a difference, why not franchise it so more people can . . . → Read More: Barry Ritholtz’s Tiny Mistake

The Idolatry of Work

I came across this other day when stumbling around In Mala Fide:

God may be dead, but the cubicle jockeys and castrated middle-class drones of this land still think of themselves as part of a warped Calvinist elect. To them, their willingness to have their humanity stripped away day by day sucking at Mammon’s . . . → Read More: The Idolatry of Work

Does One Form of Sensation-Seeking Substitute for Another?

In the last post Ruth, a mental health nurse, discussed how she had been more willing to participate in risky activities such as bungee jumping while she was working in prisons. This led to a discussion of changes in perception of identity that may be associated with drug taking by young people who are . . . → Read More: Does One Form of Sensation-Seeking Substitute for Another?

Delta Airlines Sucks And Teaches Scottevest Some Austrian Economics

What is absolutely required during an interaction with Customs? … Like muscles as you flex your rights they become stronger; so use them or lose them.

This article is mainly just some very helpful hints with some slight economic analysis. Being an entrepreneur who enjoys creating wealth and building from scratch I . . . → Read More: Delta Airlines Sucks And Teaches Scottevest Some Austrian Economics