World Changed and Good Jobs Disappeared
Return to Criticism of Modern Capitalism Updated 1/21/18 Please link to and
A Flat World means
our best and brightest students are in a
competitive struggle with the best and brightest from around the world.
Their wealth creating innovations will
quickly spread around a
Destructive world. Intelligent computers have replaced
many middle skilled workers. This
job polarization has decreased the career opportunities for
average academic educational High School graduates.
Middle Prepared Student Jobs Have
Disappeared "As we [WSJ] reported in July, before, during and
after the recession,
demand for one sort of worker has been persistently stronger:
personal-service jobs that involve assisting or caring for other
people — from waiters
to home-health aides. Bureau of Labor Statistics says, 545,000 jobs
have been added in the past two years in what it quaintly
calls “food services and drinking places.” That is about 30% of the net increase in employment (1.84 million) between
July 2010 and July 2012." Editor's Note: Neither require an
academically oriented secondary education.
The Economist and
Liberty Street Economics
Are Stem Jobs the Answer?
Are Apprentices the Answer?
Siemens Seeks Apprentices from the Rest of Europe
"The country’s [Germany] vocational education system—built on a centuries-old guild tradition that combines state-funded classroom sessions with practical training by companies who pay apprentices modest salaries—offers more than half a million high school graduates a year of hands-on education in hundreds of professions as a respected alternative to a university degree. The system has helped keep youth unemployment at 7.9 percent, the lowest rate in Europe." [U.S. with four times the population would need a 2,000,000 student apprenticeship program to compete.] Edited 1/30/13 Germany’s vaunted dual-education system is its latest export hit"
The Great Reversal in the Demand
for Skill and Cognitive Tasks
Epilogue: The Cost of a Misdirected Education
My Keene State College
1990 Economics 101 class was given data showing that average college graduates
make much more than high school graduates. They had seen it before. That is why
most of them were in college. Then I showed them median income of college
graduates. They were disappointed with the lower number. I explained how some
really high earners make the mean higher than the median. Then I showed them
data indicating the bottom quarter of college graduates earned about the
same income as high school's top-quarter. They became more unsettled. Then I
gave them the lowest income statistic of all, the median income for those with
just a bachelor's degree. Those with higher degrees were left off. From the back
of the room I heard "you mean they are ripping us off. I pleased to report that the Great Recession has mass media coverage of the
decreasing economic return from a college education has substantially
increased. But like any unwelcome news, parents, teachers, and
politicians will be the last to react properly. The collateral damage
has been immense. It will continue to be so unless some responsible mass
media helps makes an educational system that improves the well-being of
all students . Here is the collateral damage of our love affair with