Economics Graduation Quotes

It is true that if care is taken to use only a language that it's understood by graduates in law and economics, you can easily prove that the masses have to be managed from above.

When I applied to graduate school many years ago, I wrote an essay expressing my puzzlement at how a country that could put a man on the moon could still have people sleeping on the streets. Part of that problem is political will; we could take a lot of people off the streets tomorrow if we made it a national priority. But I have also come to realize that NASA had it easy. Rockets conform to the unchanging laws of physics. We know where the moon will be at a given time; we know precisely how fast a spacecraft will enter or exist the earth's orbit. If we get the equations right, the rocket will land where it is supposed to--always. Human beings are more complex than that. A recovering drug addict does not behave as predictably as a rocket in orbit. We don't have a formula for persuading a sixteen-year-old not to drop out of school. But we do have a powerful tool: We know that people seek to make themselves better off, however they may define that. Our best hope for improving the human condition is to understand why we act the way we do and then plan accordingly. Programs, organizations, and systems work better when they get the incentives right. It is like rowing downstream.

The son of the Duke of Holstein, one of the most powerful men in Eldorra, he was an accomplished equestrian who spoke six languages fluently and graduated top of his class from Harvard and Oxford, where he studied political science and economics. He had a well-established record of philanthropy and his last relationship with an Eldorran heiress ended on amicable terms after two years. Based on my interactions with him so far, he seemed friendly and genuine. I hated him.

I told him about my unsuccessful job hunting. He said it was all part of the pattern of economics - economic injustice. 'You take a young white boy. He can go though school and college with a real incentive. He knows he can make good money in any profession when he gets out. But can a Negro - in the South? No, I've seen many make brilliant grades in college. And yet when they come home in the summers to earn a little money, they have to do the most menial work. And even when they graduate it's a long hard pull. Most take postal jobs, or preaching or teaching jobs. This is the cream. What about the others , Mr. Griffin? A man knows no matter how hard he works , he's never going to quite manage...taxes and prices eat up more than he can earn. He can't see how he'll ever have a wife and children. The economic structure just doesn't permit it unless he's prepared to live down in poverty and have his wife work too. That's part of it. Our people aren't educated because they can't afford it or else they know education won't earn them the jobs it would a white men.

If not educating yourself after graduation is one step on the Sidewalk, the other is not educating yourself on basic finance and economics.

I suspect a lot of people would dub me as immoral over naughty with my conflicted love issues, but hey! I was an economics, not an English graduate. What did I care for semantics?

...[I]t doesn't take an advanced degree to figure out that this education talk is less a strategy for mitigating inequality than it is a way of rationalizing it. To attribute economic results to school years finished and SAT scores achieved is to remove matters from the realm of, well, economics and to relocate them to the provinces of personal striving and individual intelligence. From this perspective, wages aren't what they are because one party (management) has a certain amount of power over the other (workers); wages are like that because the god of the market, being surpassingly fair, rewards those who show talent and gumption. Good people are those who get a gold star from their teacher in elementary school, a fat acceptance letter from a good college, and a good life when they graduate. All because they are the best. Those who don't pay attention in high school get to spend their days picking up discarded cans by the side of the road. Both outcomes are our own doing.

I just graduated with a degree in economics, and I worked at a hospital for my past two summers. I’d love a job at a health-related website. I know you once worked for WebMD, and I’d really welcome a personal introduction.

In China, women who are single past the age of twenty-seven are stigmatized as sheng nu, or “leftover women.” They face severe pressure from their families to marry, stemming from the widespread belief that regardless of education and professional achievement, a woman is “absolutely nothing until she is married.” One thirty-six-year-old economics professor was rejected by fifteen men because she had an advanced degree; her father then forbade her younger sister from going to graduate school.

For four decades, since my time as a graduate student, I have been preoccupied by these kinds of stories about the myriad ways in which people depart from the fictional creatures that populate economic models. It has never been my point to say that there is something wrong with people; we are all just human beings—homo sapiens. Rather, the problem is with the model being used by economists, a model that replaces homo sapiens with a fictional creature called homo economicus, which I like to call an Econ for short. Compared to this fictional world of Econs, Humans do a lot of misbehaving, and that means that economic models make a lot of bad predictions, predictions that can have much more serious consequences than upsetting a group of students. Virtually no economists saw the financial crisis of 2007–08 coming,* and worse, many thought that both the crash and its aftermath were things that simply could not happen.

While in 2013 Asian Americans had the highest college graduation rate of any racial group in America by far with 53 percent, as with overall numbers of economic success, this number hides a wide disparity based on country of origin: 46 percent of second-generation Cambodian and Laotian Americans have only a high school degree or less, compared to only 6 percent of second-generation Chinese Americans.

I decide to scope out craigslist to see all the vibrant economic employment opportunities available to me in this depression. Oh, I’m sorry, I mean “recession.” No matter how many millions of jobs are lost, how much debt our country accrues, or how many years the stagnation drags on, it’s not a depression until the dogmatic media officially declares it to be a depression. It’s as if they believe by repeatedly printing or saying economists are afraid the economy will slip back into a recession, they’ll fool the masses of unemployed or underemployed into believing that not only are we not in a depression, but we aren’t even in a recession. I’m sure the millions of unemployed, freshly graduated college kids who have thousands of dollars of unshakable debt to pay off feel comforted by the empty repetition.

And I’m with Alan Greenspan, who—surprisingly, given his libertarian roots—has repeatedly warned that growing inequality poses a threat to “democratic society.” It may take some time before we muster the political will to counter that threat. But the first step toward doing something about inequality is to abandon the 80–20 fallacy. It’s time to face up to the fact that rising inequality is driven by the giant income gains of a tiny elite, not the modest gains of college graduates.

I strongly believe that the best economic policy for any administration is the one that seeks to produce more entrepreneurs, not just more minimally educated college graduates with nowhere to go. Nothing against recent college graduates, but many of today’s best universities are no longer providing the basics of a classical liberal education. That is why the single most important economic issue of our time—and one that impacts the poor and middle class alike—will be how we treat the entrepreneurs and wealth creators among us, from both the government and the private-sector viewpoints.

A 2011 study done by Alan Krueger, a Princeton economics professor who served for two years as the chairman of President Obama’s Council of Economic Advisers, and Stacy Dale, an analyst with Mathematica Policy Research, tried to adjust for that sort of thing. Krueger and Dale examined sets of students who had started college in 1976 and in 1989; that way, they could get a sense of incomes both earlier and later in careers. And they determined that the graduates of more selective colleges could expect earnings 7 percent greater than graduates of less selective colleges, even if the graduates in that latter group had SAT scores and high school GPAs identical to those of their peers at more exclusive institutions. But then Krueger and Dale made their adjustment. They looked specifically at graduates of less selective colleges who had applied to more exclusive ones even though they hadn’t gone there. And they discovered that the difference in earnings pretty much disappeared. Someone with a given SAT score who had gone to Penn State but had also applied to the University of Pennsylvania, an Ivy League school with a much lower acceptance rate, generally made the same amount of money later on as someone with an equivalent SAT score who was an alumnus of UPenn. It was a fascinating conclusion, suggesting that at a certain level of intelligence and competence, what drives earnings isn’t the luster of the diploma but the type of person in possession of it. If he or she came from a background and a mindset that made an elite institution seem desirable and within reach, then he or she was more likely to have the tools and temperament for a high income down the road, whether an elite institution ultimately came into play or not. This was powerfully reflected in a related determination that Krueger and Dale made in their 2011 study: “The average SAT score of schools that rejected a student is more than twice as strong a predictor of the student’s subsequent earnings as the average SAT score of the school the student attended.

Piketty and some colleagues would later publish a paper containing a startling fact about 2014, the year of Cohen’s graduation and debut as a self-supporting earner. The study showed that a college graduate like Cohen, on the safe assumption that she ended up in the top 10 percent of earners, would be making more than twice as much before taxes as a similarly situated person in 1980. If Cohen entered the top 1 percent of earners, her income would be more than triple what a 1 percenter earned in her parents’ day—an average of $1.3 million a year for that elite group versus $428,000 in 1980, adjusted for inflation. On the narrow chance that she entered the top 0.001 percent, her income would be more than seven times higher than in 1980, with a cohort average of $122 million. The study included the striking fact that the bottom half of Americans had over this same span seen their average pretax income rise from $16,000 to $16,200. One hundred seventeen million people had, in other words, been “completely shut off from economic growth since the 1970s,” Piketty, Emmanuel Saez, and Gabriel Zucman wrote. A generation’s worth of mind-bending innovation had delivered scant progress for half of Americans.

What this reveals about our universities is the operation of a pathological element. One need not ban the American flag from most of our campuses. It is more useful to deceive the world by allowing that flag to fly in a place where, all things being equal, its meaning and spirit has been abolished. In the Humanities and Social Science departments, where freedom of thought is of central importance, the American flag is more hated than loved by the faculty and the graduate students. I know this from firsthand because I was a graduate student at UC Irvine from 1986-1989. Professors there promoted Marxism, engaged in active recruitment of students amenable to Marxist ideas, and damaged the careers of those who were anti-Marxist. In those days it was done very quietly, administratively. If you dared speak up for America or economic freedom, you were persecuted. Your reputation was ruined. It is preferable to avert one’s eyes from such a situation, and very unpleasant to experience it directly; that is why those singled out for persecution were never defended. They were hung out to dry, and nobody dared interfere. Who, after all, wants trouble? This is the beauty of a quiet and selective intimidation.

I think that's quite true. and in fact the people who understand this the best are those who are carrying out the control and domination in the more free societies. like the U.S. and England, where popular struggles have have won a lot of freedoms over the years and the state has limited capacity to coerce. It is very striking that it's precisely in those societies that elite groups—the business world, state managers and so on—recognized early on that they are going to have to develop massive methods of control of attitude and opinion, because you cannot control people by force anymore and therefore you have to modify their consciousness so that they don't perceive that they are living under conditions of alienation, oppression, subordination and so on. In fact, that's what probably a couple trillion dollars are spent on each year in the U.S., very self-consciously, from the framing of television advertisements for two-year olds to what you are taught in graduate school economics programs. It's designed to create a consciousness of subordination and it's also intended specifically and pretty consciously to suppress normal human emotions. Normal human emotions are sympathy and solidarity, not just for people but for stranded dolphins. It's just a normal reaction for people. If you go back to the classical political economists, people like Adam Smith, this was just taken for granted as the core of human nature and society. One of the main concentrations of advertising and education is to drive that out of your mind. And it's very conscious. In fact, it's conscious in social policy right in front of our eyes today. Take the effort to destroy Social Security. Well, what's the point of that? There's a lot of scam about financial problems, which is all total nonsense. And, of course, they want Wall Street to make a killing. Underlying it all is something much deeper. Social Security is based on a human emotion and it's a natural human emotion which has to be driven out of people minds, namely the emotion that you care about other people. You care. It's a social and community responsibility to care whether a disabled widow across town has enough food to eat, or whether a kid across the street can go to school. You have to get that out of people's heads. You have to make them say, "Look, you are a personal, rational wealth maximizer. If that disabled widow didn't prepare for her own future, it's her problem not your problem. It's not your fault she doesn't have enough to eat so why should you care?

Here's a resume of crucial knowledge you should have in today's world but universities are not providing: Financial - Not just on management, but also on how to profit, how to manage and control flows of income; Linguistic - In today's world, speaking only a language is prove of lack of education. Knowing two languages is a basic necessity, and knowing three languages is essential, while knowing four is merely the ideal situation. Which four languages? Chinese, English, Spanish, and another of your choice, just for fun; Intellectual - It's not about what you know; it’s all about how you think about what you know. Therefore, it's ridiculous to think that there’s only one answer and one way to examine our life. Most students are extremely dumb because they lack the ability to educate themselves, despite their certificates or where they’ve studied. They never read with an intention in mind. And as they graduate, they become completely futile as individuals. This situation is the same all over the world. Millions are graduating every year, without any significant knowledge to live with. Their books are often outdated once they graduate and they're unable to learn by themselves and develop the necessary skills to adjust to the economic society in which we live. Maybe they can keep a job for 3 or 5 years of their life, but then are surprised to lose it and never finding a suitable job again. The world is changing very fast and most people can’t or are unwilling to recognize this fact.

When the time comes, & I hope it comes soon, to bury this era of moral rot & the defiling of our communal, social, & democratic norms, the perfect epitaph for the gravestone of this age of unreason should be Iowa Senator Chuck Grassley's already infamous quote: "I think not having the estate tax recognizes the people that are investing... as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.” Grassley's vision of America, quite frankly, is one I do not recognize. I thought the heart of this great nation was not limited to the ranks of the plutocrats who are whisked through life in chauffeured cars & private jets, whose often inherited riches are passed along to children, many of whom no sacrifice or service is asked. I do not begrudge wealth, but it must come with a humility that money never is completely free of luck. And more importantly, wealth can never be a measure of worth. I have seen the waitress working the overnight shift at a diner to give her children a better life, & yes maybe even take them to a movie once in awhile - and in her, I see America. I have seen the public school teachers spending extra time with students who need help & who get no extra pay for their efforts, & in them I see America. I have seen parents sitting around kitchen tables with stacks of pressing bills & wondering if they can afford a Christmas gift for their children, & in them I see America. I have seen the young diplomat in a distant foreign capital & the young soldier in a battlefield foxhole, & in them I see America. I have seen the brilliant graduates of the best law schools who forgo the riches of a corporate firm for the often thankless slog of a district attorney or public defender's office, & in them I see America. I have seen the librarian reshelving books, the firefighter, police officer, & paramedic in service in trying times, the social worker helping the elderly & infirm, the youth sports coaches, the PTA presidents, & in them I see America. I have seen the immigrants working a cash register at a gas station or trimming hedges in the frost of an early fall morning, or driving a cab through rush hour traffic to make better lives for their families, & in them I see America. I have seen the science students unlocking the mysteries of life late at night in university laboratories for little or no pay, & in them I see America. I have seen the families struggling with a cancer diagnosis, or dementia in a parent or spouse. Amid the struggles of mortality & dignity, in them I see America. These, & so many other Americans, have every bit as much claim to a government working for them as the lobbyists & moneyed classes. And yet, the power brokers in Washington today seem deaf to these voices. It is a national disgrace of historic proportions. And finally, what is so wrong about those who must worry about the cost of a drink with friends, or a date, or a little entertainment, to rephrase Senator Grassley's demeaning phrasings? Those who can't afford not to worry about food, shelter, healthcare, education for their children, & all the other costs of modern life, surely they too deserve to be able to spend some of their “darn pennies” on the simple joys of life. Never mind that almost every reputable economist has called this tax bill a sham of handouts for the rich at the expense of the vast majority of Americans & the future economic health of this nation. Never mind that it is filled with loopholes written by lobbyists. Never mind that the wealthiest already speak with the loudest voices in Washington, & always have. Grassley’s comments open a window to the soul of the current national Republican Party & it it is not pretty. This is not a view of America that I think President Ronald Reagan let alone President Dwight Eisenhower or Teddy Roosevelt would have recognized. This is unadulterated cynicism & a version of top-down class warfare run amok. ~Facebook 12/4/17

Besides, it’s not as big a deal as people make it out to be. You just have to be prepared to answer any question on any of the four hundred books you’ve read so far in graduate school. And if you get it wrong, they kick you out,” she said. He fixed her with a look of barely contained awe while she stirred the salad around her plate with the tines of her fork. She smiled at him. Part of learning to be a professor was learning to behave in a professorial way. Thomas could not be permitted to see how afraid she was. The oral qualifying exam is usually a turning point—a moment when the professoriate welcomes you as a colleague rather than as an apprentice. More infamously, the exam can also be the scene of spectacular intellectual carnage, as the unprepared student—conscious but powerless—witnesses her own professional vivisection. Either way, she will be forced to face her inadequacies. Connie was a careful, precise young woman, not given to leaving anything to chance. As she pushed the half-eaten salad across the table away from the worshipful Thomas, she told herself that she was as prepared as it was possible to be. In her mind ranged whole shelvesful of books, annotated and bookmarked, and as she set aside her luncheon fork she roamed through the shelves of her acquired knowledge, quizzing herself. Where are the economics books? Here. And the books on costume and material culture? One shelf over, on the left. A shadow of doubt crossed her face. But what if she was not prepared enough? The first wave of nausea contorted her stomach, and her face grew paler. Every year, it happened to someone. For years she had heard the whispers about students who had cracked, run sobbing from the examination room, their academic careers over before they had even begun. There were really only two ways that this could go. Her performance today could, in theory, raise her significantly in departmental regard. Today, if she handled herself correctly, she would be one step closer to becoming a professor. Or she would look in the shelves

Anna Chapman was born Anna Vasil’yevna Kushchyenko, in Volgograd, formally Stalingrad, Russia, an important Russian industrial city. During the Battle of Stalingrad in World War II, the city became famous for its resistance against the German Army. As a matter of personal history, I had an uncle, by marriage that was killed in this battle. Many historians consider the battle of Stalingrad the largest and bloodiest battle in the history of warfare. Anna earned her master's degree in economics in Moscow. Her father at the time was employed by the Soviet embassy in Nairobi, Kenya, where he allegedly was a senior KGB agent. After her marriage to Alex Chapman, Anna became a British subject and held a British passport. For a time Alex and Anna lived in London where among other places, she worked for Barclays Bank. In 2009 Anna Chapman left her husband and London, and moved to New York City, living at 20 Exchange Place, in the Wall Street area of downtown Manhattan. In 2009, after a slow start, she enlarged her real-estate business, having as many as 50 employees. Chapman, using her real name worked in the Russian “Illegals Program,” a group of sleeper agents, when an undercover FBI agent, in a New York coffee shop, offered to get her a fake passport, which she accepted. On her father’s advice she handed the passport over to the NYPD, however it still led to her arrest. Ten Russian agents including Anna Chapman were arrested, after having been observed for years, on charges which included money laundering and suspicion of spying for Russia. This led to the largest prisoner swap between the United States and Russia since 1986. On July 8, 2010 the swap was completed at the Vienna International Airport. Five days later the British Home Office revoked Anna’s citizenship preventing her return to England. In December of 2010 Anna Chapman reappeared when she was appointed to the public council of the Young Guard of United Russia, where she was involved in the education of young people. The following month Chapman began hosting a weekly TV show in Russia called Secrets of the World and in June of 2011 she was appointed as editor of Venture Business News magazine. In 2012, the FBI released information that Anna Chapman attempted to snare a senior member of President Barack Obama's cabinet, in what was termed a “Honey Trap.” After the 2008 financial meltdown, sources suggest that Anna may have targeted the dapper Peter Orzag, who was divorced in 2006 and served as Special Assistant to the President, for Economic Policy. Between 2007 and 2010 he was involved in the drafting of the federal budget for the Obama Administration and may have been an appealing target to the FSB, the Russian Intelligence Agency. During Orzag’s time as a federal employee, he frequently came to New York City, where associating with Anna could have been a natural fit, considering her financial and economics background. Coincidently, Orzag resigned from his federal position the same month that Chapman was arrested. Following this, Orzag took a job at Citigroup as Vice President of Global Banking. In 2009, he fathered a child with his former girlfriend, Claire Milonas, the daughter of Greek shipping executive, Spiros Milonas, chairman and President of Ionian Management Inc. In September of 2010, Orzag married Bianna Golodryga, the popular news and finance anchor at Yahoo and a contributor to MSNBC's Morning Joe. She also had co-anchored the weekend edition of ABC's Good Morning America. Not surprisingly Bianna was born in in Moldova, Soviet Union, and in 1980, her family moved to Houston, Texas. She graduated from the University of Texas at Austin, with a degree in Russian/East European & Eurasian studies and has a minor in economics. They have two children. Yes, she is fluent in Russian! Presently Orszag is a banker and economist, and a Vice Chairman of investment banking and Managing Director at Lazard.

Clancy Goldfinger, former managing partner of Catchum, Killum, and Eatum, who graduated from Harvard Law School in 1951 and clerked for Judge XXX and Justice YYY, passed away Tuesday.”)

The fracas was frequently portrayed in the media as two world-famous Harvard professors brought low by a graduate student from a lesser-known, unorthodox department. This is largely hyperbole. But the clash did illustrate an import aspect of economics—something that the profession shares with other sciences: Ultimately, what determines the standing of a piece of research is not the affiliation, status, or network of the author; it is how well it stacks up to the research criteria of the profession itself. The authority of the work derives from its internal properties—how well it is put together, how convincing the evidence is—not from the identity, connections, or ideology of the researcher. And because these standards are shared within the profession, anyone can point to shoddy work and say it is shoddy.¶¶ This may not seem particularly impressive, unless you consider how unusual it is compared to many other social sciences or much of the humanities.## It would be truly rare in those other fields for a graduate student to get much mileage challenging a senior scholar’s work, as happens with some frequency in economics. But because models enable the highlighting of error, in economics anyone can do it.

Roger enjoyed this time of the day. It was four o’clock, and he only had thirty minutes left at work. It wasn’t that he disliked his job, but he was swept up in the anticipation of spending the rest of the evening with his wife. In fact, his job was exactly what he wanted to do after college. Following high school, he was accepted to his first choice school, Penn State. It wasn’t the party atmosphere or venerable football history that drew him; it was the tradition. His grandfather attended the university to study business management, and his father graduated from there after studying economics. It was fitting that Roger took the baton and

As the George F. Baker Professor of Economics at Harvard, a powerful Washington insider and advisor to two Republican presidents, Martin S. Feldstein was accustomed to being taken very seriously. He taught Ec 10, the introductory economics course at Harvard, for twenty years and this made some of the most powerful people in the USA his former students. So it might have come as a rude shock for Feldstein to be told in Spring 2003, not merely by a bunch of rebellious students but some of his fellow faculty, that his course was not only not good enough, it was misleading. This disturbance was triggered by Students for a Humane and Responsible Economics (SHARE), a Harvard-based off-shoot of the Post-Autistic Economics Network. But significantly, the actual petition demanding changes in Ec 10 was drafted by one of Feldstein’s colleagues, Prof. Stephen A. Marglin, himself a Harvard graduate and a veteran member of the faculty. The petition asked: If this course is meant to be an introduction to basic economic principles and methods, why is its content limited to the neo-liberal variety of economics? Why does it create the impression that there are no other models in the field of economics? Why isn’t there a plurality of approaches adapted to the complexity of objects analysed? By not providing a truly open marketplace for ideas Harvard failed to prepare students to be critical thinkers and engaged citizens, alleged SHARE. Its mission statement went on to argue that the standard economic models taught at Harvard were loaded with values and political convictions which inevitably influenced, if not defined, the students’ worldview as well as their career choices. Above all, said the petition, ‘ . . . by falsely presenting economics as a positive science devoid of ethical values, we believe Harvard strips students of their intellectual agency and prevents them from being able to make up their own minds.

Brennan credited his time in the army with shaping his deep suspicion of government. While he was fighting at the front, his draft board sent a letter to his home stating he would be fined and imprisoned if he did not turn up for his physical. “Just goes to show how much the government knows about what’s going on,” he said. On April 4, 1919, Walter Brennan was one of six thousand returning troops that Governor Calvin Coolidge saluted as their ship docked. Six days later, while the demobbed Brennan was marching in a Swampscott parade, he spotted Ruth Wells, the daughter Lynn’s local sheriff, crossing the street. Walter’s and Ruth’s families knew one another, but Walter, three years older than Ruth, had not paid that much attention to her until he went away to war and began writing letters to her. When Ruth was six, she broke a bottle belonging to Walter’s mother, and nine-year-old Walter teased her to tears by telling her, “she’d get it when they got home.” During the war, she attended Simmons College, graduating in 1919 from a three-year program in secretarial studies, having taken courses not only in shorthand, typing, business practices, commercial law, and economics, but also in English, History, French, and German. Her yearbook entry in The Microcosm gives the impression of a lively and sociable personality with interests in the theater, parties, and dances. She was not one to sulk or spend much time worrying. “He kind of discovered you,” Ralph Edwards said to Ruth. “Oh, I did that,” she explained. “We were invited by Walter’s mother to dinner, my mother and my two sisters . . . Walter

In scores of cities all over the United States, when the Communists were simultaneously meeting at their various headquarters on New Year’s Day of 1920, Mr. Palmer’s agents and police and voluntary aides fell upon them—fell upon everybody, in fact, who was in the hall, regardless of whether he was a Communist or not (how could one tell?)—and bundled them off to jail, with or without warrant. Every conceivable bit of evidence—literature, membership lists, books, papers, pictures on the wall, everything—was seized, with or without a search warrant. On this and succeeding nights other Communists and suspected Communists were seized in their homes. Over six thousand men were arrested in all, and thrust summarily behind the bars for days or weeks—often without any chance to learn what was the explicit charge against them. At least one American citizen, not a Communist, was jailed for days through some mistake—probably a confusion of names—and barely escaped deportation. In Detroit, over a hundred men were herded into a bull-pen measuring twenty-four by thirty feet and kept there for a week under conditions which the mayor of the city called intolerable. In Hartford, while the suspects were in jail the authorities took the further precaution of arresting and incarcerating all visitors who came to see them, a friendly call being regarded as prima facie evidence of affiliation with the Communist party. Ultimately a considerable proportion of the prisoners were released for want of sufficient evidence that they were Communists. Ultimately, too, it was divulged that in the whole country-wide raid upon these dangerous men—supposedly armed to the teeth—exactly three pistols were found, and no explosives at all. But at the time the newspapers were full of reports from Mr. Palmer’s office that new evidence of a gigantic plot against the safety of the country had been unearthed; and although the steel strike was failing, the coal strike was failing, and any danger of a socialist régime, to say nothing of a revolution, was daily fading, nevertheless to the great mass of the American people the Bolshevist bogey became more terrifying than ever. Mr. Palmer was in full cry. In public statements he was reminding the twenty million owners of Liberty bonds and the nine million farm-owners and the eleven million owners of savings accounts, that the Reds proposed to take away all they had. He was distributing boilerplate propaganda to the press, containing pictures of horrid-looking Bolsheviks with bristling beards, and asking if such as these should rule over America. Politicians were quoting the suggestion of Guy Empey that the proper implements for dealing with the Reds could be “found in any hardware store,” or proclaiming, “My motto for the Reds is S. O. S.—ship or shoot. I believe we should place them all on a ship of stone, with sails of lead, and that their first stopping-place should be hell.” College graduates were calling for the dismissal of professors suspected of radicalism; school-teachers were being made to sign oaths of allegiance; business men with unorthodox political or economic ideas were learning to hold their tongues if they wanted to hold their jobs. Hysteria had reached its height.

Economics graduate students are far more likely to free-ride than other students.

As brilliant but amoral graduates from secular universities such as Harvard gain control of America’s economic and political life, the world has every reason to cease trusting America.

school, Penn State. It wasn’t the party atmosphere or venerable football history that drew him; it was the tradition. His grandfather attended the university to study business management, and his father graduated from there after studying economics.

How much would you say? Take a pencil and use this empty page to scribble, sketch, and do some calculations. The answer is on the next page, but I strongly encourage you to have fun and try it out for yourself first. Scribble, sketch, and have fun! I hope you did try to solve it yourself, because learning is so much more fulfilling when it is interactive. If you did not, too bad for you. ☹ In truth, the bacteria have only filled 3.125% of the glass. But how can this be? Well it is simple. If they double every minute, and they fill the entire glass in 60 minutes, then they will have filled half the glass the minute before 60 (or 50% after 59 minutes), half of that the minute before 59 (or 25% after 58 minutes), and so on. Table 3.1 summary of the last 10 minutes, starting from the end.  Time Elapsed    Amount Filled  60 minutes   100 .000%   59 minutes   50 .000%   58 minutes   25 .000%   57 minutes   12. 500%   56 minutes   6. 250%   55 minutes   3. 125%   54 minutes   1. 563%   53 minutes   0. 781%   52 minutes   0. 391%   51 minutes   0. 195%     Table 3.1: Exponential growth of bacteria in a bottle over the last 10 minutes. It all makes sense now, right? Suddenly it becomes clear, even obvious. Who could not get this? It is so simple, right? Apparently, it is not. The most common replies I get are between 50% and 90%. Even college graduates typically get it wrong. And let?s not talk about politicians. We will come back to this in the Appendix, with some real-world examples. For now, I think it is safe to say that we all understand what steady growth means. Let’s now see how this applies to our main focus in the next chapter: information technology.

Which is where the next ambitious ALG project comes in: African Leadership Unleashed, or ALU. Led by Fred Swaniker, ALU is a plan to establish a network of 25 universities across the continent by the end of the decade—Africa’s Ivy League—each of which will have 10,000 students. The first ALU has already opened in Mauritius. The idea is to apply the exact same boutique model of the African Leadership Academy to tertiary education. Once the 25 colleges are built and running, it will mean that every four years 250,000 young Africans trained in business, government, ethics, social policy, medicine and the arts will be entering the workforce. Among them will be the new generation of Africa’s leaders. Says Swaniker, “Hundreds of thousands of university graduates on the continent today are not equipped with the skills to lead change. About 45 percent of university graduates in Africa today are unemployed. This is a tragedy. I want to change this by applying ALA’s model in a tertiary space to provide the critical skills and leadership experience necessary for success.” Swaniker announced the project in a powerful talk at TEDGlobal 2014 in Rio de Janeiro titled “The Leaders Who Ruined Africa, and the Generation Who Can Fix It.” The talk has been downloaded over 1 million times and is a powerful and inspiring manifesto for this, the African Century.

The enterprises of the country are aggregating vast corporate combinations of unexampled capital, boldly marching, not for economic conquests only, but for political power,” Edward G. Ryan, the chief justice of Wisconsin’s Supreme Court, warned the graduating class of the state university in 1873. “The question will arise, and arise in your day, though perhaps not fully in mine, ‘Which shall rule—wealth or man; which shall lead—money or intellect; who shall fill public stations—educated and patriotic free men, or the feudal serfs of corporate capital?’ 

A culture of collective responsibility is based on two fundamental beliefs: 1. The first assumption is that we, as educators, must accept responsibility to ensure high levels of learning for every child. While parental, societal, and economic forces impact student learning, the actions of the educators will ultimately determine each child’s success in school. 2. The second assumption is that all students can learn at high levels. We define “high” levels of learning as “high school plus,” meaning every child will graduate from high school with the skills and knowledge required to continue to learn.

As Sharon Poczter, professor of economics at Cornell, explains, “The antiquated rhetoric of ‘having it all’ disregards the basis of every economic relationship: the idea of trade-offs. All of us are dealing with the constrained optimization that is life, attempting to maximize our utility based on parameters like career, kids, relationships, etc., doing our best to allocate the resource of time. Due to the scarcity of this resource, therefore, none of us can ‘have it all,’ and those who claim to are most likely lying.

A smile encourages tourism which boosts economic growth, gives comfort to the lonely and sick, gives hope to the poor and homeless, gives strength to the fragile and elderly, reduces stress in worriers, makes us happy when we're sad and builds strong bridges between us all.

He suspected most of the real answers concerning slavery, lynching, forced labor, sharecropping, racism, Reconstruction, Jim Crow, prison labor, migration, civil rights and black revolution movements were all about money. Money withheld, money stolen, money as power, as war. Where was the lecture on how slavery alone catapulted the whole country from agriculture into the industrial age in two decades? White folks’ hatred, their violence, was the gasoline that kept the profit motors running. So as a graduate student he turned to economics—its history, its theories—to learn how money shaped every single oppression in the world and created all the empires, nations, colonies with God and His enemies employed to reap, then veil, the riches.

I wanted to help rescue this species from endangerment by learning about the elephants’ intricate social structure, increasing worldwide attention to this species through my research and scientific advancements in knowledge. However, when the scientific papers that I had spent years writing finally came out, there was little reaction. I felt proud of my scientific accomplishments but was sad that I wasn’t doing more for the species that I cared about so much. The following year after I graduated, a new paper by one of my colleagues in Gabon found that between 2002-2011, the duration of my Ph.D. plus a few years, over 60% of the entire forest elephant population declined due to poaching[5]. The poaching was almost exclusively driven by the consumption of their tusks as sources for carving statues, jewelry, and other decorative objects. The true conservation issue had nothing to do with studying the elephants themselves. What was the point of studying a species if it might not exist in a few decades?  If I really wanted to help forest elephants, I should have been studying the people, the consumers who were purchasing ivory to determine if there were ways to change attitudes towards ivory and purchasing behavior. Yes, having rangers on the ground to protect parks and elephants is important, but if there is no decrease in demand, it will constantly be an uphill battle. All of the solutions to the conservation problems of forest elephants are social, political, and economic first.  If you are interested in pursuing wildlife biology as a career for conservation purposes (like I was) or because you love animals (also me), you might be better suited in another career if research is not your thing but can still work for a conservation organization. Nonprofits need lawyers, financial planners, fundraising experts, and marketing executives to name a few. When I perused the job boards of nonprofit organizations, I was surprised by how few research positions there were. There were far more in fundraising, marketing, and development. Even if you don’t work directly for conservation, honestly, you can still make a difference and help conservation efforts in other ways outside of your career. A lot of conservation is really about investing in programs and habitat, so species stay protected. For example, if you can purchase and/or donate money to organizations that buy large areas of land, this land can be set aside for wildlife conservation. The biggest threat to wildlife is habitat loss and simply buying more land, keeping it undeveloped, and/or restoring it for species to live on, is one of the major means to solve the biodiversity crisis.

Quoting page 148: … the SBA [Small Business Administration] next, in 1982, considered a petition [for inclusion in the 8(a) program] on behalf of Asian Indians. SBA guidelines required petitioners to provide evidence of several factors, including “evidence of long-term prejudice and discrimination in American society suffered by an overwhelming majority” of the petitioning group, and evidence of “past and present effects of discriminatory practices” that together “have resulted and continue to result in substantial economic deprivation for an overwhelming majority” of the group, including “substantial impediments in the business world.” This would seem to be a tall order for Asian-Indian Americans. … In 1980, the percentage of college graduates and managers or professionals among Asian Indians was 52 and 49 percent, respectively, while for all Americans it was 16 and 23 percent. In 1989, Asian Indians had the highest median household income ($48,320 in 1989 dollars) of all immigrant groups in the country. … The SBA, avoiding socioeconomic data and comparisons, added India to the presumptively eligible list in February 1982.

There was a wonderful example of gaming a human system in the career of Victor Niederhoffer in the Economics Department of Harvard. Victor Niederhoffer was the son of a police lieutenant, and he needed to get A's at Harvard. But he didn't want to do any serious work at Harvard because what he really liked doing was, one, playing world-class checkers; two, gambling in high-stakes card games, at which he was very good, all hours of the day and night; three, being the squash champion of the United States, which he was for years; and, four, being about as good a tennis player as a part-time tennis player could be. This did not leave much time for getting A's at Harvard. So he went into the Economics Department. You'd think he would have chosen French poetry. But remember, this was a guy who could play championship checkers. He thought he was up to outsmarting the Harvard Economics Department. And he was. He noticed that the graduate students did most of the boring work that would otherwise go to the professors, and he noticed that because it was so hard to get to be a graduate student at Harvard, they were all very brilliant and organized and hardworking, as well as much needed by grateful professors. And, therefore, by custom, and as would be predicted from the psychological force called "reciprocity tendency," in a really advanced graduate course, the professors always gave an A. So Victor Niederhoffer signed up for nothing but the most advanced graduate courses in the Harvard Economics Department, and, of course, he got A, after A, after A, after A, and was hardly ever near a class. And, for a while. Some people at Harvard may have thought it had a new prodigy on its hands. That's a ridiculous story, but the scheme will work still. And Niederhoffer is famous: They call his style "Niederhoffering the curriculum.

National Public Radio’s long-running show called Car Talk. The show consisted of brothers Tom and Ray Magliozzi—both MIT graduates—taking calls from people with questions about their cars. Improbably enough, it was hysterically funny, especially to them. They would laugh endlessly at their own jokes.

I am on Aid to Families with Dependent Children, and both my children are in school. . . . I have graduated from college with distinction, 128th in a class of over 1000, with a B.A. in English and sociology. I have experience in library work, child care, social work and counseling. I have been to the CETA office. They have nothing for me. . . . I also go every week to the library to scour the newspaper Help Wanted ads. I have kept a copy of every cover letter that I have sent out with my resume; the stack is inches thick. I have applied for jobs paying as little as $8000 a year. I work part-time in a library for $3.50 an hour, welfare reduces my allotment to compensate. . . . It appears we have employment offices that can’t employ, governments that can’t govern and an economic systemthat can’t produce jobs for people ready to work. . . . Last week I sold my bed to pay for the insurance on my car, which, in the absence of mass transportation, I need to go job hunting. I sleep on a piece of rubber foamsomebody gave me. So this is the great American dream my parents came to this country for: Work hard, get a good education, follow the rules, and you will be rich. I don’t want to be rich. I just want to be able to feed my children and live with some semblance of dignity. . . .

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Between 1972 and 2001 the wage and salary income of Americans at the 90th percentile of the income distribution rose only 34 percent, or about 1 percent per year. So being in the top 10 percent of the income distribution, like being a college graduate, wasn’t a ticket to big income gains. But income at the 99th percentile rose 87 percent; income at the 99.9th percentile rose 181 percent; and income at the 99.99th percentile rose 497 percent. No, that’s not a misprint.

university graduates in Protestant regions took more public sector jobs, and construction shifted from religious to public and administrative buildings.

The Bureau of Labor Statistics tells us that most workers move out of minimum wage jobs quickly, and that they are very unlikely to return to them. Of workers who start out at the minimum wage, 46 percent move on to earn more than the minimum within one year. Of workers still earning the minimum wage in their second year of work, 55 percent graduate to higher wages by their third year. This pattern continues, so that for every 100 workers who start their careers at the minimum wage, five years later only three are still earning the minimum wage – the other 97 have moved on to higher paying jobs. And this accounts for the few workers who slip back into the minimum wage after earning more.

In 1999 a Columbia University graduate student in economics, Adriana Lleras-Muney, found that each additional year of education led to a longer life. It’s a tight correlation—education is a stronger link to a longer life than even household income.

course if we choose to use a language comprehensible only to law and economics graduates it will be easy to prove that the masses need to have their life run for them. But if we speak in plain language, if we are not obsessed with a perverse determination to confuse the issues and exclude the people, then it will be clear that the masses comprehend all the finer points and every artifice. Resorting to technical language means you are determined to treat the masses as uninitiated. Such language is a poor front for the lecturer's intent to deceive the people and leave them on the sidelines. Language's endeavor to confuse is a mask behind which looms an even greater undertaking to dispossess. The intention is to strip the people of their possessions as well as their sovereignty. You can explain anything to the people provided you really want them to understand. And if you think they can be dispensed with, that on the contrary they would be more of a nuisance to the smooth running of the many private and limited companies whose aim is to push them further into misery, then there is no more to be said.

After graduation she saw several active deployments in the Urban Rapid Suppression Force. Then her parents were killed by a drone bomb some bunch of anti-imperialist anarchist whack-jobs launched at the sneering symbol of their evil foreign economic oppressors—or, in English, the Italian remote drone systems factory where her father worked.

… whose social capital … would after graduation suffer the precipitous collapse that they knew from AP Economics always follows periods of grotesque overvaluation.

College grads made more than nongrads. But many who graduated in the 2000s, like Lisa, barely had any more wealth than nongrads because of their towering education debt.

1989 - Age 14 - Attended Stuyvesant High School 1995 - Age 21 - Graduated Dartmouth (studied computer science and economics)

Chicago faculty liked to hire Chicago graduates. “Our department is too homogenous in several ways,” worried the faculty authors of a 1957 internal committee report. It was not for want of trying, the memo continued: “First, we more or less agree that we ought to diversify by seeking a socialist, or an institutionalist, or something of the sort. Then we consider names of economists who might qualify, and one by one we reject them on the grounds that they are not really good economists. The discussion ends when someone says, ‘There’s really nobody good in that category.’” Friedman’s response to the memo perfectly encapsulated this dynamic. Near a passage that identified history of economic thought as an area of interest, he scribbled one word: “Stigler.

Benn is a smart guy. He graduated from an elite college (the University of Virginia) with a degree in economics, and like many in his situation he had ambitions for his career. It didn’t take him long to realize that these ambitions would be thwarted so long as his main professional skills could be captured in an Excel macro. He decided, therefore, he needed to increase his value to the world. After a period of research, Benn reached a conclusion: He would, he declared to his family, quit his job as a human spreadsheet and become a computer programmer. As is often the case with such grand plans, however, there was a hitch: Jason Benn had no idea how to write code. As a computer scientist I can confirm an obvious point: Programming computers is hard. Most new developers dedicate a four-year college education to learning the ropes before their first job—and even then, competition for the best spots is fierce. Jason Benn didn’t have this time. After his Excel epiphany, he quit his job at the financial firm and moved home to prepare for his next step. His parents were happy he had a plan, but they weren’t happy about the idea that this return home might be long-term. Benn needed to learn a hard skill, and needed to do so fast.

The economics training the students receive provides enormous insights into the behavior of Econs, but at the expense of losing common-sense intuition about human nature and social interactions. Graduates no longer realize that they live in a world populated by Humans.

Start with a two-line summary of your background, and then say what you’re looking for, being as specific as possible. It could go something like this: “I just graduated with a degree in economics, and I worked at a hospital for my past two summers. I’d love a job at a health-related website. I know you once worked for WebMD, and I’d really welcome a personal introduction.

There’s a country that does something a little like this. Its young people, including its very best educational prospects from all different backgrounds, spend two or three years training and solving problems in a nonhierarchical environment and get together every year. Many then collaborate to start companies. This country leads the world in venture capital investments per capita (over $170, versus $75 in the United States in 2010).1 It has more companies on the NASDAQ than any non-US country except for China, despite having a population of less than eight million.2 Its quarterly gross domestic product (GDP) growth rate was above 5 percent in 2011 and it’s in the top thirty globally in per capita GDP, above Spain and Saudi Arabia, among others.3 This country is Israel, where eighteen-year-olds complete two- or three-year tours in the military, getting to know each other in highly selective military units. They operate at a high level of autonomy and responsibility and then travel the world for months before heading to college and/or grad school. In Dan Senor and Saul Singer’s book Start-up Nation, this network and training ground is credited as helping give rise to a culture of risk taking and entrepreneurship. By the time Israelis graduate from college, they’re in their midtwenties and mature; in many cases, they’ve already been in operating environments and borne life-and-death responsibilities. This cocktail of experience gives rise to a mixture of both courage and impatience. As one entrepreneur put it, “When an Israeli entrepreneur has a business idea, he will start it that week. The notion that one should accumulate credentials before launching a venture simply does not exist. . . . Too much time can only teach you what can go wrong, not what could be transformative.”4 Another observer commented, “Israelis . . .  don’t care about the social price of failure and they develop their projects regardless of the economic . . . situation.”5

One Stanford op-ed in particular was picked up by the national press and inspired a website, Stop the Brain Drain, which protested the flow of talent to Wall Street. The Stanford students wrote, The financial industry’s influence over higher education is deep and multifaceted, including student choice over majors and career tracks, career development resources, faculty and course offerings, and student culture and political activism. In 2010, even after the economic crisis, the financial services industry drew a full 20 percent of Harvard graduates and over 15 percent of Stanford and MIT graduates. This represented the highest portion of any industry except consulting, and about three times more than previous generations. As the financial industry’s profits have increasingly come from complex financial products, like the collateralized debt obligations (CDOs) that ignited the 2008 financial meltdown, its demand has steadily grown for graduates with technical degrees. In 2006, the securities and commodity exchange sector employed a larger portion of scientists and engineers than semiconductor manufacturing, pharmaceuticals and telecommunications. The result has been a major reallocation of top talent into financial sector jobs, many of which are “socially useless,” as the chairman of the United Kingdom’s Financial Services Authority put it. This over-allocation reduces the supply of productive entrepreneurs and researchers and damages entrepreneurial capitalism, according to a recent Kauffman Foundation report. Many of these finance jobs contribute to volatile and counter-productive financial speculation. Indeed, Wall Street’s activities are largely dominated by speculative security trading and arbitrage instead of investment in new businesses. In 2010, 63 percent of Goldman Sachs’ revenue came from trading, compared to only 13 percent from corporate finance. Why are graduates flocking to Wall Street? Beyond the simple allure of high salaries, investment banks and hedge funds have designed an aggressive, sophisticated, and well-funded recruitment system, which often takes advantage of [a] student’s job insecurity. Moreover, elite university culture somehow still upholds finance as a “prestigious” and “savvy” career track.6

People assume that I have a degree in poli-sci and that I decided to become a comedian just because that was the best way to spread my message. It's the same way for my dad too. He seems like he has a bachelor's degree in economics from the Wharton School, but he really only graduated from Spring Hill College in Mobile. For all three of us, people assume that because we have the information, we must have pieces of paper that certify us as smart. Nope. We just have information because we wanted it. If there's one thing that I learned from both of my parents, it is that you don't need the paper to get the information.

Other studies exist now in Great Britain, Germany, and the United States that are larger and more representative than these older ones, and will join them in length of follow-up in another decade or two. The Wisconsin Longitudinal Study, for example, began in 1957 and included about a third of all of Wisconsin’s high school graduates of that year; it has endured for over half a century so far.8 Eighty-eight percent of its surviving members are still active in the study at age sixty-five. (By way of comparison, 96 percent of the surviving Grant Study members are still active at age ninety!) The Wisconsin Study is more demographically representative than the other studies, and its economic and sociological data are richer and better analyzed. It has a weakness too, however; it lacks face-to-face medical examinations or interviews. We can anticipate a great wealth of prospective life data as these younger studies come into their own. But they will supplement, not supplant, the riches already offered by the Grant Study and its contemporaries.

Noah Kagan went to UC Berkeley and graduated with degrees in Business and Economics. He worked at Intel for a short stint, and then found himself at Facebook, as employee #30. You’d think this is where the story would get really good: Noah went on to become the head of product and is now worth 10 billion dollars! That’s not what happened. Instead, he was fired after eight months. Noah has been very public about this, and it’s well documented. He even wrote about why it happened, which mostly comes down to the fact that he was young and inexperienced. Here’s where the real story gets interesting. After being fired, Noah spent ten months at Mint, another successful startup. For Noah, that was a side-hustle. After Mint, he founded KickFlip, a payment provider for social games. He also started an ad company called Gambit. Both of those companies fluttered around for a while and then fizzled out. Next came AppSumo, a daily deals website for tech software. AppSumo has done very well, and it’s still in business as of this writing, but Noah eventually turned his attention to another opportunity. While building up his other businesses, he had become an expert at email marketing, and realized there was a huge need for effective marketing tools. So he created SumoMe, a software company that helps people and companies build their email lists. SumoMe has exploded since its launch. Over 200,000 sites now use it in some capacity, and that number is growing every day. It’s easy to imagine SumoMe becoming a $100 million dollar company in a matter of years, and it’s completely bootstrapped. The company has taken zero funding from venture capitalists. That means Noah can run the business exactly how he wants. I’ve known Noah for almost ten years. I met him when my first company was getting off the ground. Several months ago, we were emailing back and forth about promoting my first book. He ended one of the emails with, “Keep the hustle strong.” I smiled when I read that. Noah is, and always will be, a hustler. He’s been hustling for his entire career―for over a decade. And he deserves everything that’s coming his way. Hustle never comes without defeat. It never comes without detours and side-projects. But the best hustlers all know this simple truth: All that matters is that you keep on hustling.

I began to have deviant thoughts about economic theory while I was a graduate student

It’s no surprise that many later analysts, in judging these and other actions and statements by Diem in the course of 1955, depicted him as a power-hungry and hypocritical autocrat, a reactionary mandarin, a pliant U.S. puppet, and nothing more. But this is insufficient. As recent scholarship has demonstrated, Diem was a modernizer of sorts, a man who had his own vision for Vietnam’s future and who sought to strike a balance between progress and Vietnam’s cultural traditions. “We are not going to go back to a sterile copy of the mandarin past,” Diem told journalist Marguerite Higgins. “We are going to adapt the best of our heritage to the modern situation.”15 Along with his brother and chief adviser Ngo Dinh Nhu, he embraced the ideology of personalism, which was rooted in the efforts of humanist Roman Catholic intellectuals in interwar France to find a third way to economic development, between liberal democracy and Communism. A key figure was philosopher Emmanuel Mounier, who expounded his ideas in books and in the journal Esprit. For Nhu, an intellectual and a graduate of France’s L’École des chartes, personalism’s emphasis on the value of community, rather than individualism, while at the same time avoiding the dehumanizing collectivism of socialism, held tremendous appeal and could complement the traditional concern of Vietnamese culture with social relationships.

Mario García Menocal was born on December 17, 1866, in the town of Jagüey, located southeast of Havana in the Matanzas Province of Cuba. As a young man, he was a partisan in Cuba's fight for independence and he later became a prominent conservative politician. Menocal was elected to the presidency of Cuba in 1912 and assumed the office in 1913. During his administration, he strongly supported business and corporations, as he had promised in his platform. While in office, Cuba also established its own currency, but the United States dollar continued to be the only paper money in circulation on the island until 1934. During his second term as president of Cuba, the United States entered into World War I. During the war, due in part to his close ties to the United States and the escalating prices of sugar, Cuba experienced an economic resurgence. However, once the war ended, the sugar market plunged and the country slid into a severe recession. While in office, García Menoca, a graduate of Cornell University, hosted the 1920 Delta Kappa Epsilon National Convention in Havana. When his presidency ended on May 20, 1921, Menocal unsuccessfully attempted to remain in politics. He died in Santiago de Cuba on September 7, 1941.

Life and all you been told since you were brought into this world is the true lie. The religious system is a lie, the education system a joke and economics and government are a way to police every human into not just believing in what the rulers of this world want/ but what demand. Want a true wake up call---Look up Astrotheology and do your research about the world... There is a reason why your church tells you to blindly believe in what they pump into your mind. As a human race we have policed ourselves because we simply don't know any better... we are to arrogant and dumb to know any better. Start using your brain and ask the questions nobody else does. Why do we all have to place a square on our head at graduation- Because that's what the rulers of the world made us, a bunch of squares with no freedom of thought... if every basic religion around the world was looking to the sun and stars as a religion, why would we try to change it? The enemy of man doesn't want you to see the truth. Open your eyes to what is real. We are our own slaves, because we were all taught to believe that it was right. Put a value system on humanity, and we loose sight of what Nature intended us to be. Look around-If animals can exist without wars or killing their own kind- why cant we. The rulers of this world don't want you to know the truth... Look up the Illuminati and study..find out who your true enemy is. And believe in your heart not what anyone else tells you is right. Your not a culture, but a individual and life is simply what you interpret to be.

I graduated from high school and couldn’t find a job, which is when I decided to set up as a doctor.

Despite economic progress in the area, which lifted all households, we still find very large and persistent differences in how the beneficiaries live compared to the comparison group that did not get the program. They consume more, have more assets, and are healthier and happier; they have “graduated” from being the outliers to being the “normal poor.”89 This is quite different from the long-term follow-ups of pure cash transfer programs, which have so far been disappointing.90 Putting these families squarely on track toward productive work required more than money. It required treating them as human beings with a respect they were not used to, recognizing both their potential and the damage done to them by years of deprivation.

came across this comment by Christian Saint-Étienne, an economics professor at Paris-Dauphine, which was published in an interview in Le Figaro Magazine (28 February 1998), on the subject of the departure of young French college graduates: ‘The phenomenon is extremely alarming in terms of the demographic balance sheet. We are witnessing simultaneously the emigration of 40,000 to 50,000 highly skilled persons a year, while France attracts to her territory each year 100,000 foreigners, of whom 80 per cent to 90 per cent are absolutely unskilled.’ What do they want? ‘To take advantage of our social security system and not to produce in an efficient manner.’ More precisely, ‘If the phenomenon continues, in ten years, our country will have accepted a million unskilled immigrants while a half-million educated French will have left!

In the following days, the first opposition party was founded and my parents revealed the truth, their truth. They said that my country had been an open-air prison for almost half a century. That the universities which had haunted my family were, yes, educational institutions, but of a peculiar kind. That when my family spoke of the graduation of relatives, what they really meant was their recent release from prison. That completing a degree was coded language for completing a sentence. That what had been referred to as the initials of university towns were actually the initials of various prisons and deportation sites: B. for Burrel, M. for Maliq, S. for Spaç. That the different subjects of study corresponded to different official charges: to study international relations meant to be charged with treason; literature stood for 'agitation and propaganda'; and a degree in economics entailed a more minor crime, such as 'hiding gold'. That students who become teachers were former prisoners who converted to being spies, like our cousin Ahmet and his late wife. Sonia. That a harsh professor was an official at whose hands many people had lost their lives, like Haki, with whom my grandfather had shaken hands after serving his sentence. That f someone had achieved excellent results, it meant the stint had been brief and straightforward; but being expelled meant a death sentence; and dropping out voluntarily meant committing suicide.

Thomas Piketty, the economist of the moment, writes that after he obtained an economics doctorate, and spent several years teaching at M.I.T., “I was only too aware of the fact that I knew nothing about the world’s economic problems.” Piketty goes on, “To put it bluntly, the discipline of economics has to get over its childish passion for mathematics and for purely theoretical and often highly ideological speculation, at the expense of historical research and collaboration with the other social sciences.” The student group agrees with Piketty. In the open letter, the students argue that an economics degree “should include interdisciplinary approaches and allow students to engage with other social sciences and the humanities.” But the students’ main beef is that, even within the subject of economics, the standard curriculum is overly restrictive, and excludes much that is valuable. The letter calls for students to be exposed to “a variety of theoretical perspectives, from the commonly taught neoclassically-based approaches to the largely excluded classical, post-Keynesian, institutional, ecological, feminist, Marxist and Austrian traditions—among others. Most economics students graduate without ever encountering

Parents are not alone in focusing their expectations on success at the graduation exam: The whole education system colludes with them. The curriculum and organization of schools often date back to a colonial past, when schools were meant to train a local elite to be the effective allies of the colonial state, and the goal was to maximize the distance between them and the rest of the populace.

Experienced workers were defined as those age 30 to 54; recent graduates were those age 22 to 26. Graduate degree holders were limited to those age 30 to 54. No field rivals engineering for average earnings, according to the study. Computers and mathematics comes closest, but graduate engineers make fully ten percent more than graduate degree holders from computers and mathematics. The data suggest that there are big economic differences among these various fields. You—and your children—should choose wisely.

Less headway is being made in figuring out how to improve teacher quality, an undertaking more complex than simply recruiting new teachers with better academic credentials or offering higher salaries. In high-achieving countries, such as Finland, Singapore, and South Korea, teachers come from the top of their high school graduating classes, teaching schools have a high bar for acceptance, and teachers’ salaries are competitive with those of lawyers and scientists. It is generally the opposite in the United States.

How to become the President of Liberia from “Liberia & Beyond” In 1973, Charles Taylor enrolled as a student at Bentley University, in Waltham, Massachusetts. A year later Taylor became chairman of the Union of Liberian Associations in America, which he founded on July 4, 1974. The mission of ULAA was meant to advance the just causes of Liberians and Liberia at home and abroad. In 1977 Taylor graduated from Bentley University with a Bachelor of Arts degree in economics. Returning to Liberia he supported the violent coup, led by Samuel Doe, and became the Director General of the General Services Agency most likely because of his supposed loyalty. His newly acquired elevated position put him in charge of all the purchases made for the Liberian government. Taylor couldn’t resist the urge of stealing from the till, and in May of 1983, he was found out and fired for embezzling nearly a million dollars in State funds. During this time he transferred his ill-gotten money to a private bank account in the United States. On May 21, 1984, seizing the opportunity, Taylor fled to America where he was soon apprehended and charged with embezzlement by United States Federal Marshals in Somerville, Massachusetts. Taylor was held in the Plymouth, County jail until September 15, 1985, when he escaped with two of his cohorts, by sawing through the steel bars covering a window in his cell. He precariously lowered himself down 20 feet of knotted sheets and then deftly escaped into the nearby woodlands. He most likely had accomplices, since his wife Jewel Taylor conveniently met him with a car, which they then drove to Staten Island in New York City.

Among the thirty-four member countries of the Organisation for Economic Co-Operation and Development, or OECD, the United States still ranks a respectable eighth in its college-enrollment rate. But in college completion—the percentage of entering college freshmen who go on to graduate—the United States ranks second to last, ahead of only Italy.

The Economic Policy Institute reports that the average hourly wages paid to young college graduates hit a new low in the mid-1990s. Graduating into a strong economy versus a weak one could amount to as much as a 20 percent difference in wages over time.

Such were the circumstances under which the system of War Communism came into being and which prompted the government to proclaim the Soviet Republic a “military camp” in a decree of September 2, 1918. War Communism has been described as a compound of war emergency and socialist dogma. Its main features, in addition to the forcible food requisitions, were extreme centralization of economic life, the state’s effort to take both production and distribution into its own hands as far as possible, the compulsory mobilization of labor, and the attempt to abolish money in favor of direct exchange in kind.[317] It remained in force until 1921, when the regime proclaimed the New Economic Policy in order to revive the shattered economy. Under the NEP, forcible grain requisitions were replaced with a graduated tax in kind upon the peasant farmsteads, a money economy was restored, and private enterprise was legalized in agriculture, the service trades, and parts of light industry.

The real perfect storm fueling the opioid epidemic had been the collapse of work, followed by the rise in disability and its parallel, pernicious twin: the flood of painkillers pushed by rapacious pharma companies and regulators who approved one opioid pill after another. Declining workforce participation wasn't just a rural problem anymore; it was everywhere, albeit to a lesser degree in areas with physicians who prescribed fewer opioids and higher rates of college graduates. As Monnat put it: "When work no longer becomes an option for people, what you have at the base is a structural problem, where the American dream becomes a scam." She likened the epidemic's spread not to crabgrass but a wildfire: "If the economic collapse was the kindling in this epidemic, the opiates were the spark that lit the fire." And the helicopters were nowhere in sight.

Mifsud notes that J. D. Evans had graduated from Cambridge in 1949 and that in the early 1950s he was 'in desperate need of a PhD'. The thesis that the future Professor of Prehistoric Archaeology at the University of London chose to develop, influenced by the Italian archaeologist Barnarbo Brea, was that the very first human inhabitants of the previously unpeopled Malta had been immigrants from the Neolithic Stentinello culture of Sicily -- a theory that is still part of the conventional academic wisdom about Malta today. In pursuing this thesis, Mifsud suggests, it was not convenient to the young Evans to have to deal with the evidence of the Ghar Dalam teeth that suggested a prior, Palaeolithic, human presence in Malta. This, then, either as a conscious or unconscious motive, could explain why Evans was so vehement in his attacks on the antiquity of the taurodonts [that could belong to Neanderthals] and so economical with the truth in his published statements about them. He wanted them out of the way -- permanently -- of his own theory about Malta's first inhabitants.

Asians are still a small minority—14.5 million (including about one million identified as part Asian) or 4.7 percent of the population—but their impact is vastly disproportionate to their numbers. Forty-four percent of Asian-American adults have a college degree or higher, as opposed to 24 percent of the general population. Asian men have median earnings 10 percent higher than non Asian men, and that of Asian women is 15 percent higher than non-Asian women. Forty-five percent of Asians are employed in professional or management jobs as opposed to 34 percent for the country as a whole, and the figure is no less than 60 percent for Asian Indians. The Information Technology Association of America estimates that in the high-tech workforce Asians are represented at three times their proportion of the population. Asians are more likely than the American average to own homes rather than be renters. These successes are especially remarkable because no fewer than 69 percent of Asians are foreign-born, and immigrant groups have traditionally taken several generations to reach their full economic potential. Asians are vastly overrepresented at the best American universities. Although less than 5 percent of the population they account for the following percentages of the students at these universities: Harvard: 17 percent, Yale: 13 percent, Princeton: 12 percent, Columbia: 14 percent, Stanford: 25 percent. In California, the state with the largest number of Asians, they made up 14 percent of the 2005 high school graduating class but 42 percent of the freshmen on the campuses of the University of California system. At Berkeley, the most selective of all the campuses, the 2005 freshman class was an astonishing 48 percent Asian. Asians are also the least likely of any racial or ethnic group to commit crimes. In every category, whether violent crime, white-collar crime, alcohol, or sex offenses, they are arrested at about one-quarter to one-third the rate of whites, who are the next most law-abiding group. It would be a mistake, however, to paint all Asians with the same brush, as different nationalities can have distinctive profiles. For example, 40 percent of the manicurists in the United States are of Vietnamese origin and half the motel rooms in the country are owned by Asian Indians. Chinese (24 percent of all Asians) and Indians (16 percent), are extremely successful, as are Japanese and Koreans. Filipinos (18 percent) are somewhat less so, while the Hmong face considerable difficulties. Hmong earn 30 percent less than the national average, and 60 percent drop out of high school. In the Seattle public schools, 80 percent of Japanese-American students passed Washington state’s standardized math test for 10th-graders—the highest pass rate for any ethnic group. The group with the lowest pass rate—14 percent—was another “Asian/Pacific Islanders” category: Samoans. On the whole, Asians have a well-deserved reputation for high achievement.

Millennials have found that education does not equal economic mobility, and the works of white patriarchs long dead do little to further our own personal enlightenment beyond operating as an exercise in patience. We graduate high school with souls long dead; we fill in bubbles on standardized tests hoping that the etch of our Number 2 pencil will inscribe prosperity but we know deep down that that is the lot of the privileged few, and maybe if we were men, maybe if we were white, maybe if we were middle-class it could have been us one day but we know in this lifetime it will never be, so at the first opportunity we stop taking tests and look for the chance to find self-actualization or even latent meaning in anything at all.

IRCC Updates Guidance on Intra-Company Transferees Amid Canadian Immigration Changes: ESSE India Insights On October 3, Immigration, Citizenship, and Refugees Canada (IRCC) introduced updated guidelines concerning Intra-Company Transferees (ICTs) under Canada's International Mobility Program. These updates are especially relevant for foreign nationals looking to transfer within multinational corporations to Canadian branches, as they clarify the criteria for eligibility and the assessment of specialized knowledge. For individuals pursuing, including those engaging in work programs like the Global Talent Stream Canada, these changes have significant implications. These updates align with IRCC’s broader objective to decrease the proportion of temporary residents in Canada over the next three years. This is particularly important for those seeking assistance from Canada immigration consultants, especially those based in India, who are providing services for Canada PR consultancy. Key Changes to the Intra-Company Transferee Program The IRCC has refined the ICT program under section R205(a) of Canadian Interests – Significant Benefit. Transfers must now originate from an established foreign enterprise of a multinational corporation (MNC). The updates also clarify the definition of “specialized knowledge,” which is crucial for foreign workers applying for such roles. Furthermore, all ICT instructions have been consolidated onto a single page, streamlining the process for applicants and immigration consultants alike. These changes don’t just affect ICT applicants but also extend to broader implications for those navigating the Canada PR process, including individuals using Canada immigration consultants in India or from other locations. Those applying through programs such as bcpnp, provincial nomination, or even looking to work and study in Canada for free should take these updates into consideration. Free Trade Agreements and the International Mobility Program The updates also encompass free trade agreements related to ICTs, including the Canada–United States–Mexico Agreement, Canada–Korea Free Trade Agreement, and Canada–European Union: Comprehensive Economic and Trade Agreement. These agreements simplify the Canada PR procedure for skilled workers, often allowing them to bypass the requirement for a Labour Market Impact Assessment (LMIA), which can be time-consuming. This simplification is beneficial for businesses and foreign nationals navigating the Canadian immigration system. For those considering PR in Australia or Germany through the Global Talent Stream Australia or Global Talent Stream Germany, understanding the differences in immigration policies between countries is vital. As Canada refines its ICT program, both Australia PR and Germany PR processes have their own unique requirements, which can be managed with the help of Australia immigration consultants or Germany immigration consultants. Impacts on Temporary Resident Programs and the Canadian Labour Market In conjunction with the ICT updates, Canada's Temporary Foreign Worker Program (TFWP), which involves LMIA-based work permits, is undergoing significant reforms. IRCC’s new measures aim to reduce temporary residents in Canada from 6.5% to 5% of the total population by 2026. These changes will be especially relevant for foreign nationals seeking permanent residency in Canada and for those applying for Canada Visa Consultancy Services, such as spouse visa consultants or tourist visa ETA applications. Long-Term Outlook for Canadian Immigration Looking ahead, IRCC’s reforms signify a strategic shift in Canada’s immigration framework. Key programs such as the Provincial Nominee Program (PNP), study permits, and post-graduation work permits (PGWPs) will be affected by these changes. For immigrants relying on Canada immigration consultants, staying informed about these updates is essential for making well-informed decisions.