Posts tagged economics

Will Rogers on Deficit

Will Rogers

Will Rogers

“Alexander Hamilton started the U.S. Treasury with nothing, and that was the closest our country has ever been to being even.”

–Will Rogers

Masters Degrees Equaling Massive Debt

Every now and then, I’m contacted by people recently graduated from Ivy League schools who want to go to work for WordPros.

The potential interviewee is usually in their mid-twenties and has never published anything. Not even an article in the school paper.

Me: “And why do you want to be a writer?”
Grad: “Oh, I’ve ALWAYS wanted to be a writer.”
Me: “What have you written?”
Grad: “Oh, I’ve been too busy getting my degree to publish anything.”
Me: “Not even a blog?”
Grad: “No.”
Me: SIGH.

This phenomenon has ALWAYS puzzled me. But I carried 18 credit hours a semester while working three part-time jobs (yes, it nearly killed me and my GPA, but I made it). I even periodically squeezed in some volunteer work.

Gradually, over the years, I’ve realized there’s a certain class of professional student who never feels quite qualified enough to actually get a job and GO TO WORK.

So, they’re endlessly preparing, gathering credentials, planning to have all the certifications they may ever need to do the best job EVER in any field.

Without actually doing any real work. Just PREPARING. Forever.

(I even blogged about one facet of this phenomena, “failure to fledge,” last Spring).

Well…

Here’s a fascinating article from Bloomberg, highlighting a painful fact of life for holders of Masters Degrees in today’s job market:

About one-third of people with master’s degrees make less money on average than a typical bachelor’s degree holder, said Stephen J. Rose, a labor economist with Georgetown University’s Center on Education and the Workforce, citing U.S. Census data.

Students who borrow to fund their further education are finding themselves in dire situations. One student plans to arrange to pay 15% of his salary for the next 25 years, with the understanding that the remaining debt will be forgiven after that time.

Is the treadmill really worth it? Probably not.

Click here to read the full story: Trapped by $50,000 Degree in Low-Paying Job.

Book Review: Googled by Ken Auletta

Googled: The End of the World As We Know It

41B7NrA03OL._SL160_


* * * Interesting in Parts, But Reads Too Much Like A Corporate Dossier

(Snapshot Review by Kerri Elders)

Without a doubt, Ken Auletta’s Googled is thoroughly and expertly researched.

However, it took me numerous ambivalent weeks to read it (BTW, it is not at all unusual for me to read 3 books at once and be finished with them all in two days and I am most positively interested in technology). Unfortunately, this one didn’t “grab” me like I thought it would, given its topic: the most brazen, upstart Corporation in the History of the Universe. The Anti-Microsoft. What I call “The God Box,” otherwise known as Google.

Although I can say I learned a lot I didn’t know before (like the incredible level to which we have all been contributing personal data streams to cable, satellite, internet, and phone companies for YEARS; the commercial value of this information; the fact that My Favorite NerdHero, Amazon Founder Jeff Bezos, is one of the original angel investors in Google; AND that Amazon’s search technology is based on an offshoot of Google’s), it felt like those nuggets of wisdom were buried in a lot of unnecessary background noise.

I think if you personally knew some of the people covered in this book, you would find it more engaging than I did. For me, the first 2/5ths of the book read like a corporate dossier, reciting the degrees and digital pedigrees of individual employees and associated boardmembers, etc.

What I really wanted to read about was what the title promised: how Google transformed the world and how it would build it anew. I also hoped it would delve into how Google might be addressing the problem of Search Engine Optimizers who are gaming Google’s algorithm and degrading the quality of search results.

I HATE to criticize a talented writer who has obviously poured so much effort into a project, but this book just fell short on delivery of its promised “sizzle,” for my tastes.

However, if you are fascinated by all things technical, the final 3/5ths of the book offer some interesting insights into Google’s worldview and its current domination of the advertising marketplace (yes, it has morphed into an ADVERTISING and data collection behemoth). Worth reading, if you can slug your way through the corporate biographies!

[Review First published on WordPros blog 12/9/09]

ETF’s vs. Mutual Funds

Yeah, so you think you know the difference between an ETF and a Mutual Fund? Me either. So I Googled it and got this answer from The God Box.

Go to Top