General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRobert Reich: The Ivy Leagues are a ludicrous waste of resources
http://www.salon.com/2014/08/05/robert_reich_the_ivy_leagues_are_a_total_waste_of_resources_partner/?utm_source=facebook&utm_medium=socialflow...
Or consider kindergarten teachers, who make an average of $53,590 a year. Before you conclude thats generous, consider that a good kindergarten teacher is worth his or her weight in gold, almost. One study found that children with outstanding kindergarten teachers are more likely to go to college and less likely to become single parents than a random set of children similar to them in every way other than being assigned a superb teacher.
...
Most financiers, corporate lawyers, lobbyists, and management consultants are competing with other financiers, lawyers, lobbyists, and management consultants in zero-sum games that take money out of one set of pockets and put it into another. Theyre paid gigantic amounts because winning these games can generate far bigger sums, while losing them can be extremely costly. Its said that by moving money to where it can make more money, these games make the economy more efficient. In fact, the games amount to a mammoth waste of societal resources. They demand ever more cunning innovations but they create no social value. High-frequency traders who win by a thousandth of a second can reap a fortune, but society as a whole is no better off.
...
Meanwhile, the games consume the energies of loads of talented people who might otherwise be making real contributions to society if not by tending to human needs or enriching our culture then by curing diseases or devising new technological breakthroughs, or helping solve some of our most intractable social problems. Graduates of Ivy League universities are more likely to enter finance and consulting than any other career. For example, in 2010 (the most recent date for which we have data) close to 36 percent of Princeton graduates went into finance (down from the pre-financial crisis high of 46 percent in 2006). Add in management consulting, and it was close to 60 percent. The hefty endowments of such elite institutions are swollen with tax-subsidized donations from wealthy alumni, many of whom are seeking to guarantee their own kids admissions so they too can become enormously rich financiers and management consultants. But I can think of a better way for taxpayers to subsidize occupations with more social merit: Forgive the student debts of graduates who choose social work, child care, elder care, nursing, and teaching.
1StrongBlackMan
(31,849 posts)Extend the list to include (any form of) government service.
PeoViejo
(2,178 posts)Financial Death from millions of bloodsucking parasites that drain wealth from us all.
AndyTiedye
(23,500 posts)What are the other 40% of the Ivy League graduates working at?
Pretty fugly job market out there for them everywhere else.
AndyTiedye
(23,500 posts)Finland is rapidly becoming the best-educated country on the planet and this is a very good thing for them.
A Finn does not have to have wealthy parents to get a college degree or even a PhD.
KT2000
(20,576 posts)who work with their hands such as mechanics. My nephew owns a company that replaces transmissions in large equipment - construction equip; fire trucks etc. He has a hard time finding skilled workers. The applicants are older men who are approaching retirement. What happens when they are all retired?
We used to have vocational schools, before all the budget cutting. Not sure how much is left of them.
Is that where the current transmission workers got their training?
KT2000
(20,576 posts)My nephew went to a school in Arizona (from Washington) where he specialized in hydraulics. He had a scholarship, otherwise it would have been too expensive for him. I am guessing cost is a deterrent for people.
One of his customers is the US Army. One would think they could supply their own skilled people?
mopinko
(70,077 posts)the one i went to moons ago had a most excellent auto repair program.
it was great to be a student there. they would fix your car for the cost of the parts.
they pick up a TON of slack for the common schools. most have ged programs where they are teaching basic skill.
they are required to meet the same standards as the state universities in illinois.
KT2000
(20,576 posts)who run the sewage treatment plants. We can thank them for not facing the risk of cholera every day.
JI7
(89,247 posts)these are people who if they did not have the name or money would not even have gotten into state public schools .
it just seems too much about status and not enough about actually learning .
it could just be those who actually go there to learn and did get a lot out of it have mostly quiet lives .
but too many of them go public and just look stupid and make the schools look overrated.
harvard seems ok for someone who may really want to get into public office and mostly because of connections.
ancianita
(36,023 posts)daleanime
(17,796 posts)erpowers
(9,350 posts)I agree with some of what Robert Reich says, but I also disagree with some of what he says. I agree that the government should forgive the student loans of people who go into careers like teaching and social work. However, I disagree with the idea that Ivy League schools are a waste of resources.
In my opinion the real problem is that too many low income kids do not know the true value of an Ivy League education. The true value of an Ivy League education is the networking ability gained by going to an Ivy League school. Also, it seems there are too few low income kids who are encouraged to go to Ivy League schools. The Ivy League should try to reach out to more low income students. It would be a good thing if Ivy League schools contacted teachers in low income areas and asked those teachers to suggest students they think the Ivy League should look into offering admission.
I also disagree with the notion that financiers, corporate lawyers, and lobbyists do not add value to society. The finance industry has allowed itself to sullied. Even though there are problems with the finance industry it has brought us many great ideas, companies, and benefits. How would new companies be created without the finance industry? Lobbyists have also been overly criticized. Most lobbyists do work that benefits society. Most lobbyists are not like Jack Abramoff; they are not stealing from people. Most are just trying to get the ideas of their clients heard by politicians.