« Has Structural Unemployment Become Important in the United States? Becker | Main | Occupy Wall Street-Posner »

11/20/2011

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

TANSTAAFL

Excellent post by Becker. No doubt the Occupy Becker-Posner crowd will find fault.

Jimbino

"The real ones with a gripe are high school dropouts who not only have high unemployment rates, but also low real earnings that may have fallen for dropouts during past 30 years, poorer health than others, bad marital prospects, and weak access to home ownership and other consumer luxuries."

Not to mention that the gummint taxes their meager income to finance the student loans of the leisure college class.

Jack

Becker tries to Polyanna the status quo and all its growing inequities even moreso than does Posner. Yah.. sure the thin stream of "trickle down" has been keeping the college set complacent for quite a while. but! this is different. There IS in addition to the stagnant wages for the "99%" the ugly specter of a cancerously growing fully corrupted financial sector with a gridlocked Congress not yet erecting necessary safeguards and rules to prevent another raid.

It IS good that Becker notes the top 1% having declining incomes as well, but for a different reason; perhaps, as previewed by the millionaires "march on Congress" favoring higher taxation, they're beginning to understand that when the Titanic goes under, it's not long after steerage goes down that they get wet too. Dare we hope for a change from the ME, ME, ME, generation to one of WE?

Surely some, many, perhaps even most of the top 1% provide services, but are the services worth what they glean? Those of the lower tiers provide services as well but have had NO income gains while those of the topmost tiers have gained 300% or more.

.. bring up the educational levels of American students? As great a goal as it is that's a 20 year kick of the can down the road, plus the lag time as ANY of our our leaders turn to making the real changes required. Korea? I was there when their annual income was $500 but they still lived up to a commitment to educate as many as possible and even then had a higher literacy rate than did the US, a statistic I'd imagine still stands.

Does Becker think we MIGHT begin to fund the schools of ALL of our K-12 students equitably and adequately? and pay teachers enough to draw the best minds from other careers paying much more? In education we HAVE models that work, and we know much of what DOES work, the problem is the commitment to scale it up across the nation. More importantly, than Becker, do we or our Reps have any such thing in mind?

As for the movement fading as "Cold weather will accelerate the decline."

Ha! this IS the Facebook generation! Unlike the 60's they/we HAVE the microphone, the "newspapers" and flash events can be arranged at the speed of light. They'll move the coming election in a fashion much as did the Obama supporters, and like moving the dial to end the Vietnam war 40 years ago the leadership and our direction needs to be moved. The "great majority" of Americans never moved anything.

Kripalu ji Maharaj

The grievances of the “Occupiers” appear to be three: income inequality, lack of jobs, and the baleful influence of the banking industry.

APA Citation Machine

Nice post and thanks for highlighting this important issue.

MrTurtle

Where is the evidence that support for Occupy Wall Street is declining? You could at least substantiate your opinions with evidence.

Daublin

"The Occupy Movement and everyone else worried about earnings inequality should be emphasizing the need to find ways to encourage more high school dropouts and high school graduates to get the required background and study habits so that they can, and want to, continue on for a college education."

I have the same impression that OWS is about unemployment. As well, I suspect that a cultural movement such as you describe could help.

Why college, though? If someone had trouble in high school, then grinding through a four-year degree is going to be long, grim, and--most problematic--not all that educational. So why encourage college, rather than more direct attempts to improve job prospects? Get a minimum wage job now, and attend a trade school at night.

Christian Louboutin Outlet

We have been spending time at the Indiana Dunes with some of our homeschool buddies, and our kids have taken well to to the art of the camp fire, and roasting hot dogs and marshmallows. Above, Marin collecting long, thin sticks that can poke through our treats for the fire. Below, cold, bare grey and brown tree branches. Lots and lots of branches. We are again down to the blue sky for color, when we can see it.

Jack

Daublin: Fair point. However, currently we're graduating something like 25% of our youth from college. My guess is that the half that is above 100 IQ points could handle the often less than challenging curriculum of many majors. (From observation, of an admittedly small sample, I'd think some in the 80 IQ range are getting through)

Anyway........ assuming we do need more like a 50% college or similarly hi-tech vocational, we're wasting 25%, not even counting the drag on our society of so many who are clueless about government and history.

IF you'd suggested much stronger vocational educational paths, and the apprentice programs that seem to work well in Germany and perhaps the UK........ I'd be with you. But....... a min wage job???? and trade school at night? My gawd man! At today's min wage the guy is going to be out foraging for food at night or trying to patch some 25 year old Suburu together for another week of transportation.

And a question: If you had the choice of living in a town or state where many of the tradesmen also had a good liberal arts education and one where those fixing your car or building your home had only HS education or less, which would you pick?

Cheap UGG Boots

To answer more of your questions, in no particular order:Do I have any explanation for the recent UFO sightings that occurred all over the world recently?Nope

Jim End

I do npot know what will happen with "Occupy" movement, but I am happy that it was created, because there is a positive result because of it!

Nam Nam

Becker makes the same error that Marybeth Hicks does on her diatribe to the young. They both use the 4-5% unemployment stat for college graduates as evidence to infer that someone coming out of college has just about a 95% chance of employment. This is misleading for a couple reasons:
1. The 4-5% stat applies to college graduates aged 25 to 65.
2. It counts a Phd working 15 hours a week as a Walmart greeter as "employed".

The bitter truth is that the employment prospects for a recent college grad are far more grim, especially full-time employment in their field of study. It is disingenuous, if not deceitful to suggest otherwise.

No wonder young people are perplexed by the suggestion that they should invest 4 years of their life and inccur $40k to $80k of debt when their is little hope of paying it back.


barbour jacket quilted

So nice your post, I certainly love this website, come on.

Timberland Boots Online

No wonder young people are perplexed by the suggestion that they should invest 4 years of their life and inccur $40k to $80k of debt when their is little hope of paying it back.


Cheap Moncler Sale

Indiana Dunes with some of our homeschool buddies, and our kids have taken well to to the art of the camp fire, and roasting hot dogs and marshmallows

Cheap Moncler Sale

I'd be with you

Burberry Outlet Scarves

The bitter truth is that the employment prospects for a recent college grad are far more grim, especially full-time employment in their field of study. It is disingenuous, if not deceitful to suggest otherwise.As for the movement fading as "Cold weather will accelerate the decline.

Monster Headphones

There is in addition to the stagnant wages for the "99%" the ugly specter of a cancerously growing fully corrupted financial sector with a gridlocked Congress not yet erecting necessary safeguards and rules to prevent another raid.

Cheap Christian Louboutin

Why college, though? If someone had trouble in high school, then grinding through a four-year degree is going to be long, grim, and--most problematic--not all that educational. So why encourage college, rather than more direct attempts to improve job prospects? Get a minimum wage job now, and attend a trade school at night.

sociological imagination essay

Play a wag, not attending work place for Unemployment movement - it makes me laugh.

neoclassical_libertarian

Here's Becker's better explanation for income inequality.

http://www.american.com/archive/2007/may-june-magazine-contents/the-upside-of-income-inequality

Jack

"This brings us to our punch line. Should an increase in earnings inequality due primarily to higher rates of return on education and other skills be considered a favorable rather than an unfavor­able development? We think so. Higher rates of return on capital are a sign of greater productivity in the economy, and that inference is fully applica­ble to human capital as well as to physical capital."

............ Well, mebbe. However............ what we in the US are seeing is HIGHER rates of poverty, and stagnant wages for most of the work force.

IF GDP is to grow, but wages for those doing the work are to remain flat while soaring H/C costs and energy price gouging eats what little "gains" they may see, ha! it leads too (drum roll?) another tanking of capitalism as was the case in 1928 and an Occupy movement.

Won't work, can't work.

Christian Louboutin UK

The bitter truth is that the employment prospects for a recent college grad are far more grim, especially full-time employment in their field of study.

Cheap Air Max

All of the sci-fi stories pointed to a shorter work week, more leisure time and industries developing around increased leisure time coupled with the income to enjoy it.

Air Force One

We have nothing like that in place or even in mind. Instead those desperate for any kind of job are to work longer hours for less pay and be appreciative for their opportunity.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Become a Fan

March 2014

Sun Mon Tue Wed Thu Fri Sat
            1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31