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Everyone has to be rich now??

Ok, reminder, no religious discussion, of any kind. I'm leaving in place a quote that happens to come from a religious source but was not cited in an inherently religious vein. Subsequent discussion of the quote has been deleted without penalties, but leave it alone.

You know, if the existing 12-14 year free public education system isn't meeting the goals of an educated citizenry that can participate in public life and meet their responsibilties in adult life, extending it for another 4 years (or more) isn't likely to fix the problems.

When you're in a hole, first thing is to stop digging. Rather than throwing good money after bad, how about getting something for the vast amounts of money we're already spending?

A couple of things here;

First of all, in the American system, for the most part the student is treated as a customer. Their education is treated as a commodity they purchase with their own (generally borrowed) money. So the question isn't, in the abstract, for society to decide whether they're "throwing good money after bad" but for the student to make that decision. "We're" not spending piles of money, students are.

Secondly...

I think this “need” for higher education is starting to turn around. Lots of kids coming out of school with degrees but no real ability to apply anything they learned, or they’re learning stuff that’s either already obsolete or just irrelevant to the job at hand. I’m seeing more and more businesses looking for people with some baseline abilities (MS Suite), good communication skills, and the ability to connect the dots with what’s being communicated in an interview. It’s going to be a long and slow process, but I think the shift is starting.
... define "lots." For all the hullabaloo about supposed deadbeat grads and "worthless" degrees, the fact is that college grads continue to place as well as ever in the job market and make good livings. And that's not even getting at the bigger issues of becoming thoughtful members of society, where I think objectively the current crop of college grads are doing as well as any generation ever did in modern times. I mean, there's a book out there about Boomers titled "A Generation of Sociopaths." 21-year-olds have always been on a learning curve stepping into adult maturity.

A human being is not a factory product, and college is not an assembly line. They don't pop out into the world with their degrees all packaged up and in the best operating condition they'll ever be in. It's more like planting an orchard of fruit trees; they take a lot of watering and pruning but the payoff doesn't come until long after. College students get exposed not only to a lot of information about different topics, but a lot of experiences and ways of doing things and ways of thinking. That's not all guaranteed to gel the moment they graduate. There was an interesting article about five years ago, from a women who double-majored in engineering and philosophy. She pursued a career in engineering; she said that she actually USES her philosophy degree, in practical ways, MUCH more often, fifteen years later. Most of what she learned in engineering classes is obsolete by now, but the thinking methods she learned in philosophy continue to be useful.

The "getting something" is going to have to begin at pre-school and carry right on through to high school graduation. Unlike those who get all up in arms about what is being taught K-12, I am more alarmed by what is NOT being taught. I still see colleagues in the English Department at my former university who repeatedly tell me the students they are getting are not college material, they cannot even write a five-paragraph theme, they don't know ANYthing. And this flaw cannot be blamed on higher education.

When I began in 1985 we marketed to students who were the first in their families to attend college, and not only mom and pop but the extended family all chipped in to cover expenses. Even so, I saw kids working two and three jobs while taking a full course load, and even with that burden those kids took their studies seriously. They WANTED to learn. And the faculty were so sympathetic to that that we bent over backwards -- we did everything we could -- to help those kids.

I don't even recognize my university now.

Sorry you don't recognize yours; but what you describe sounds a lot like mine. This is what goes on every year on my campus. We recently graduated the woman who didn't finish high school, got her GED, drove a school bus, went to community college, transferred in to us and completed her bachelor's degree while still driving the bus each day. And she's amazing, a constant fountain of questions and ideas.

I agree, there's definitely an issue with college preparedness, and it's a lifelong thing. It isn't like kids arrive at college in the same state they did forty years ago and somehow colleges can't educate them like they used to.

Part of it, as I mentioned in a previous post, is that a far higher proportion of the population goes to college in the first place. In 1940 6% of the population had a college degree, now 37% do. We're working with a broad swath of the population, not just groomed elites.

Another part is that not just education, but the total life experience, is different now. Far fewer people read books. There's a study that started tracking these things back in the 1970s, at which point something like 40% of high school graduates had read 6 or more books for pleasure in the prior year. Now it's down around 10%. I teach history; to be sure, there are lots of technological ways we convey information than were available in the past, the internet and video and all. But by the same token, the modern student has a much bigger barrier to receive information the way that people of the past received it, and therefore to understand the ways they recorded the information of their lives. That information is in books, and students have a much harder time actually reading whole books themselves.

That doesn't mean forget about college, or about teaching history in college, altogether. There are still lots of students who do great at it. But it does mean that, as a professor, I think about my pedagogy, how to meet the students where there at and give them the chance to get where they need to get to. Some won't; failure is always a possibility in the system. But I've had lots of them do very well and truly impress me.
 
I have pretty much read all 13 pages here. Some post I agree with and others not so much. That said, as far as even the near future goes, there has been no mention how AI is going to affect the future of job markets, wages & salaries, and the overall economics that are being discussed here. Quite frankly, AI scares the hell out of me. Just my two cents.
Agreed. I just finished "Careless People," a memoir from the woman who was previously Facebook's Director of Foreign Policy. At the end of the book, she states that we have absolutely no idea what we are in store for regarding AI. Hearing this from someone who was on the inside makes me incredibly scared.
 
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Agreed. I just finished "Careless People," a memoir from the woman who was previously Facebook's Director of Foreign Policy. At the end of the book, she states that we have absolutely no idea what we are in store for regarding AI. Hearing this from someone who was on the inside makes me incredibly scared.
Agreed. The sad part is that there are so many people who are 'all in' on AI and don't care to recognize the very serious threat it poses to not only jobs and livelihoods, but our society in general. It's another existential crisis on top of the handful of other existential crises we're already facing.... and when it comes to climate impacts from AI's server farms and infrastructure demands, AI is ramping that up with both feet on the accelerator pedal. It seems like 'plan for the worst but hope for the best' isn't even happening with AI... instead, the popular mindset in the AI industry and in society at large seems to be: 'go all in on the most idealistic best case scenario and stick our heads in the sand about the absolute worst parts', at least from my perspective.
 
...

First of all, in the American system, for the most part the student is treated as a customer. Their education is treated as a commodity they purchase with their own (generally borrowed) money. So the question isn't, in the abstract, for society to decide whether they're "throwing good money after bad" but for the student to make that decision. "We're" not spending piles of money, students are.
...
We, the taxpayers, ARE spending piles of money, right now, to send kids to college. Pell grants? Low interest student loans? Student load forgiveness? Ever look at your property tax statement? See "community college district" there? Where do you think Enormous State University gets its operating funds? From the general state fund, that's where.

I can't believe you're seriously saying that public colleges and universities aren't consuming tax dollars!

And my post was in response to someone saying that post-secondary education should be free for all. My point is that if existing elementary and secondary educations, on which we spend even bigger piles of money, are not reliably meeting their stated goals, that's the first thing to fix. Sending illiterate unmotivated behavior problems on to four years of "free college" isn't going to turn them into the people that their elementary and secondary experiences failed to create.
 
. . . AI is going to affect the future of job markets, wages & salaries, and the overall economics that are being discussed here. Quite frankly, AI scares the hell out of me. Just my two cents.

That's certainly correct, but we can truthfully say that about pretty much every new technological advance.

In the mid 1800s, steam power replaced vast numbers of manual laborers and there were credible predictions that there wouldn't be enough jobs for everyone.

But one consequence of the labor savings was it made slave labor in these newly industrialized countries obsolete. Emancipation of tens of millions of slaves in the western world was made possible by steam power.

The same is true of electric generators, motors, and electronic circuitry during most of the 1900s. People were saying that labor saving devices based on this technology (and other technologies like the internal combustion engine) would lead to rampant unemployment and mass poverty.

That didn't happen, of course. What did happen was these advancing technologies created whole new industries that employed multitudes of new skilled workers in jobs that were much more desirable than manual labor jobs, plus they paid far higher wages.

Then there was the computer technology boom that peaked in the 1990s. The same warnings of mass unemployment were issued, which turned out to be unfounded.

One extremely important consequence of advancing technology that's often overlooked is that because it results in a higher standard of living throughout all society and pulls large numbers out of poverty, it also creates an incentive for couples to have fewer children.

The benefit to this is that 1st world countries no longer experience exponential popujstion growth that's only limited by starvation, disease, or war, but by choice. Parents don't have 10 kids in the hope that one or two of them might live to be successful adults. They have one or two kids and pour all of their resources into them.

AI is scary because we dont know where it will lead and if it might be bad for us, but I doubt that it's going to harm us through a big rise in unemployment rates.

😀
 
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That's certainly correct, but we can truthfully say that about pretty much every new technological advance.

In the mid 1800s, steam power replaced vast numbers of manual laborers and there were credible predictions that there wouldn't be enough jobs for everyone.

But one consequence of the labor savings was it made slave labor in these newly industrialized countries obsolete. Emancipation of tens of millions of slaves in the western world was made possible by steam power.

The same is true of electric generators, motors, and electronic circuitry during most of the 1900s. People were saying that labor saving devices based on this technology (and other technologies like the internal combustion engine) would lead to rampant unemployment and mass poverty.

That didn't happen, of course. What did happen was these advancing technologies created whole new industries that employed multitudes of new skilled workers in jobs that were much more desirable than manual labor jobs, plus they paid far higher wages.

Then there was the computer technology boom that peaked in the 1990s. The same warnings of mass unemployment were issued, which turned out to be unfounded.

One extremely important consequence of advancing technology that's often overlooked is that because it results in a higher standard of living throughout all society and pulls large numbers out of poverty, it also creates an incentive for couples to have fewer children.

The benefit to this is that 1st world countries no longer experience exponential popujstion growth that's only limited by starvation, disease, or war, but by choice. Parents don't have 10 kids in the hope that one or two of them might live to be successful adults.

AI is scary because we dont know where it will lead and if it might be bad for us, but I doubt that it's going to harm us through a big rise in unemployment rates.

😀

I think AI is different from machine advancements of the past. With early machine and automation advances, sure, you needed manufacturing, and suppliers would also spring up for parts and then you had sales and management at each level. Then as they advanced, programming went into them.

But the AI, when it gets to the point it’s eliminating jobs, it will also be able to do the other things that spring from it. It won’t need programming, it will learn and do that itself. It will run the factories it needs to manufacture anything it may need. Sales is a person business and may not be affected. Maybe. AI could certainly do it, but will people take to it. They may eventually.

I just don’t know. This is different to me. The only jobs left may be farming and government. I hear talk of UBI, but how do you fund that if a large segment of your tax base doesn’t have a job? It would require any businesses run on AI to be taxed at a much much higher level. And the folks in the C-Suites aren’t salivating over AI so they can pay out more money.

The future is very much up in the air.

All of the above doesn’t really worry me as much as other AI outcomes. I firmly believe that if the AI becomes self-aware, it will eventually exterminate us.
 
We can talk and debate the education system all we want, and there are good points all around about problems and deficiencies, but in 1st world countries like in the US, Europe, others, if a child is not born mentally deficient and puts in the work and has a support system, there is no reason they can't be successful. We have had educators in our family going back three generations. They will all tell you that the most important thing for a child is the support system they have at home. If that is not there, good luck to the teachers and the schools.
Amen to that.
 
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I’d like to think there was more to it than the invention of the steam engine that brought about the end of chattel slavery.

Anyhow, education as a commodity and students being considered customers are foundational problems for a truly fruitful and society-fortifying educational system, in my view. I suppose it depends on the type society one wants to live in.
 
We, the taxpayers, ARE spending piles of money, right now, to send kids to college. Pell grants? Low interest student loans? Student load forgiveness? Ever look at your property tax statement? See "community college district" there? Where do you think Enormous State University gets its operating funds? From the general state fund, that's where.

I can't believe you're seriously saying that public colleges and universities aren't consuming tax dollars!

And my post was in response to someone saying that post-secondary education should be free for all. My point is that if existing elementary and secondary educations, on which we spend even bigger piles of money, are not reliably meeting their stated goals, that's the first thing to fix. Sending illiterate unmotivated behavior problems on to four years of "free college" isn't going to turn them into the people that their elementary and secondary experiences failed to create.

Compared to countries where post-secondary education IS free for all, the US taxpayer spends a pittance on it. This is simply not a significant share of our tax burden compared to the military, social security, medicare/medicaid, and debt servicing. I stuck to simplicity; of course some tax money goes to higher education. Not "piles" of it.

How much varies significantly by state. I'm from NH, where we really feel this intensely, because our per capita tax appropriations for higher ed (whether measured relative to the number of students in the institutions, or the taxpaying population) is the lowest in the country, by a LOT. 50th out of 50 states. If we were to double our tax spending on higher education, we'd only get up to about 35th, in the ballpark of Oklahoma. I teach at one of our public institutions, where the state only WAS covering 9% of our expenditures, and now they're cutting that (by how much is in debate, but the plans floated range from 8% to a third). We are not rolling in vast bureaucracy with armies of little do-nothing assistant deans of whatever; we're cut to the bone, and now we're cutting bone.

It's not an absurd question to ask whether we'll continue to be able to keep the doors open at all. I just had a meeting over lunch to discuss a plan to reorganize the institution in a way that preserves what we can of our teaching capacity and continue to stay on mission. I'm in a history program with two American historians, and myself, a medievalist, to cover all non-American history (along with what adjuncts we can get in our isolated rural location). We've been campaigning to get a world historian hired to have at least one replacement for the two that retired; we're constantly refused, for lack of funding for it. And people wonder why we can't attract more History majors.

Looking at 6-9% of our budget being covered by taxpayers, we are for all intents and purposes a private college, but without the freedom to operate by our own governance the way a private college could. I don't know their budgets in detail, but I assume that if Oklahoma's state appropriations are double ours, their state colleges are probably running on 18% coverage from public funds - meaning 82% not. That would be enough to alleviate some of the tuition burden on students (it seems like a dream to me to imagine that much of our budget coming from the state - it would mean so much more stability). But it still implies a heavy student-as-consumer model.

Which is really the nub of the whole higher education aspect of this discussion. I posted about the comparison to the German system before here for a reason. There are always trade-offs; no one is talking about a utopia here. "Free college for all" is not actually for ALL. In America, practically anyone who can scrounge up the money can go to some kind of college program or other - I know, I've taught in schools that took anyone who would pay (looking at you, SNHU). No place with fully publicly-funded universities does that. I remember an illuminating conversation with an Australian grad student once, talking about grade inflation. She said it wasn't an issue for them; they routinely flunk half the students. After all, the students aren't customers, paying the bills. What you lose when you structure the system the student-consumer way is the ability of universities to act as public assets, as institutions that have the support to work for the good of their communities, states or the nation, even on tasks that aren't as profitable as they are beneficial.
 
What you lose when you structure the system the student-consumer way is the ability of universities to act as public assets, as institutions that have the support to work for the good of their communities, states or the nation, even on tasks that aren't as profitable as they are beneficial.

This.
 
Ok, reminder, no religious discussion, of any kind. I'm leaving in place a quote that happens to come from a religious source but was not cited in an inherently religious vein. Subsequent discussion of the quote has been deleted without penalties, but leave it alone.



A couple of things here;

First of all, in the American system, for the most part the student is treated as a customer. Their education is treated as a commodity they purchase with their own (generally borrowed) money. So the question isn't, in the abstract, for society to decide whether they're "throwing good money after bad" but for the student to make that decision. "We're" not spending piles of money, students are.

Secondly...


... define "lots." For all the hullabaloo about supposed deadbeat grads and "worthless" degrees, the fact is that college grads continue to place as well as ever in the job market and make good livings. And that's not even getting at the bigger issues of becoming thoughtful members of society, where I think objectively the current crop of college grads are doing as well as any generation ever did in modern times. I mean, there's a book out there about Boomers titled "A Generation of Sociopaths." 21-year-olds have always been on a learning curve stepping into adult maturity.

A human being is not a factory product, and college is not an assembly line. They don't pop out into the world with their degrees all packaged up and in the best operating condition they'll ever be in. It's more like planting an orchard of fruit trees; they take a lot of watering and pruning but the payoff doesn't come until long after. College students get exposed not only to a lot of information about different topics, but a lot of experiences and ways of doing things and ways of thinking. That's not all guaranteed to gel the moment they graduate. There was an interesting article about five years ago, from a women who double-majored in engineering and philosophy. She pursued a career in engineering; she said that she actually USES her philosophy degree, in practical ways, MUCH more often, fifteen years later. Most of what she learned in engineering classes is obsolete by now, but the thinking methods she learned in philosophy continue to be useful.



Sorry you don't recognize yours; but what you describe sounds a lot like mine. This is what goes on every year on my campus. We recently graduated the woman who didn't finish high school, got her GED, drove a school bus, went to community college, transferred in to us and completed her bachelor's degree while still driving the bus each day. And she's amazing, a constant fountain of questions and ideas.

I agree, there's definitely an issue with college preparedness, and it's a lifelong thing. It isn't like kids arrive at college in the same state they did forty years ago and somehow colleges can't educate them like they used to.

Part of it, as I mentioned in a previous post, is that a far higher proportion of the population goes to college in the first place. In 1940 6% of the population had a college degree, now 37% do. We're working with a broad swath of the population, not just groomed elites.

Another part is that not just education, but the total life experience, is different now. Far fewer people read books. There's a study that started tracking these things back in the 1970s, at which point something like 40% of high school graduates had read 6 or more books for pleasure in the prior year. Now it's down around 10%. I teach history; to be sure, there are lots of technological ways we convey information than were available in the past, the internet and video and all. But by the same token, the modern student has a much bigger barrier to receive information the way that people of the past received it, and therefore to understand the ways they recorded the information of their lives. That information is in books, and students have a much harder time actually reading whole books themselves.

That doesn't mean forget about college, or about teaching history in college, altogether. There are still lots of students who do great at it. But it does mean that, as a professor, I think about my pedagogy, how to meet the students where there at and give them the chance to get where they need to get to. Some won't; failure is always a possibility in the system. But I've had lots of them do very well and truly impress me.
Apologies for not being clear - my post is less about some amount of kids coming out of college ill prepared and more about businesses beginning to put less focus on the need for a degree. I’m not saying degrees are useless, either. The data seems pretty conclusive that folks with degrees out earn those without. However, I would also agree with the poster who said anyone going into debt for schooling should have a plan.
 
I’d like to think there was more to it than the invention of the steam engine that brought about the end of chattel slavery.
It replaced animal draft animal power mostly, except for railroads, which were historically novel. Hence the English language term for lifting force. Abolition picked up steam (sorry) a couple of decades before the spread of the railroads.
 
Agree.

I like to say we’re all living now like the doctors and lawyers from 70s were living. Except we have 10x the electronics than anyone did back then. More than one phone or one TV, two NICE cars AND a double car garage….wow!

I grew up in the 70s and played hockey and was friends with those lawyers and doctors kids. What we have now makes them look the Beverley Hillbillies BEFORE Jed struck oil.
My all time favorite scene from the Beverley Hillbillies was when the oil company guy came to talk with Jed about the oil value.
He said "Jed, you live in a 1 room shack. You have an outhouse. You need to hunt for your food, and you could live anywhere you want now".
Jed replies, "I see what you mean. Why would anyone want to leave all this?".
Agree.

I like to say we’re all living now like the doctors and lawyers from 70s were living. Except we have 10x the electronics than anyone did back then. More than one phone or one TV, two NICE cars AND a double car garage….wow!

I grew up in the 70s and played hockey and was friends with those lawyers and doctors kids. What we have now makes them look the Beverley Hillbillies BEFORE Jed struck oil.
 
A lot of economic expertise on display in this thread. Here’s some of mine. My credentials are without question. Sources cited when known.

“Life’s not fair.” Hulan Webb, one of my high school math teachers. Usually in response to someone in the class saying, “but Mr. Webb that’s not fair.” He said it a lot.

“Everything you own is in the process of breaking.” Larry Winter, CPA. If you think the car breaking down was some sort of unanticipated emergency, you’re not living in reality.

“Do you see a man skillful in his work? He will stand before kings". Ancient Proverb. Get good at something people need.

“Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.” The Preacher. Diversify. Don’t put all your eggs in one basket.

Get married young and stay married. I’ll attribute this one to Scott Galloway. Most wealthy people are in long-term monogamous relationships. “The team is a great way to build wealth.”

Don’t borrow a bunch of money to go to college. Me.

“Do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble.” Jesus. Quit worrying and get to work.

“The poor you will always have with you…”. Jesus. Much thought, action and treasure has gone in to trying to prove him wrong. Yet here we are.

“Make it your ambition to lead a quiet life: You should mind your own business and work with your hands…so that you will not be dependent on anybody.” Paul. Self-explanatory.

“Everything would be fine if people would just do what I tell them to do.” Pretty much every human being ever.

“You can’t tell me what to do.” Pretty much every human ever.

This is the loan contract for my first car bought in 1982. A little two-door coupe with 6000 miles on it. Stick shift, no ABS, no airbags, no cruise control, no power windows, no power door locks. Check out the interest rate.


View attachment 7241799
In 1972 a new VW bug was $1,600. I though, I'll never be able to touch that!
 
My first adult job- the Army-at the peak of my earning career- I made $13,000 in 1991 as an E-5- (with jump pay, danger pay and overseas pay worked into that). And I was living good. And putting money away.

My 2nd adult job- I remember lying on a credit card application in the mid/late 90s to get a decent credit limit. I said I made $36,000. I didn't think I'd EVER make that much.

What was "rich" to me? I knew engineers at work who made $80,000. That was big-kids money. Anything beyond that was incomprehensible.
 
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