Quotulatiousness

November 6, 2011

The profile of the “angry college student”

Filed under: Economics, Education, Media, Politics — Tags: , , , , — Nicholas @ 12:20

Victor Davis Hanson diagnoses some of the underlying issues that are motivating the student component of the Occupy movement:

Then there is a wider, global phenomenon of the angry college student. In the Middle East, much of the unrest, whether Islamist, liberal, or hard-core leftist, is fueled by young unemployed college graduates. Ditto Europe in general, and Greece in particular: The state subsidizes college loans and the popular culture accepts an even longer period between adolescence and adulthood, say between 18 and 30 something. Students emerge “aware,” but poorly educated, highly politicized, and with unreal expectations about their market worth in an ossifying society, often highly regulated and statist.

The decision has been made long ago not to marry at 23, have two or three kids by 27, and go to work in the private sector in hopes of moving up the ladder by 30. Perhaps at 35, a European expects that a job opens up in the Ministry of Culture or the elderly occupant of a coveted rent-controlled flat dies.

Students rarely graduate in four years, but scrape together parental support and, in the bargain, often bed, laundry, and breakfast, federal and state loans and grants, and part-time minimum wage jobs to “go to college.” By traditional rubrics — living at home, having the car insurance paid by dad and mom, meals cooked by someone else — many are still youths. But by our new standards — sexually active, familiar with drugs or alcohol, widely traveled and experienced — many are said to be adults.

Debt mounts. Jobs are few. For the vast majority who are not business majors, engineers, or vocational technicians, there are few jobs or opportunities other than more debt in grad or law school. In the old days, an English or history degree was a certificate of inductive thinking, broad knowledge, writing skills, and a good background for business, teaching, or professionalism. Not now. The watered down curriculum and politically-correct instruction ensure a certain glibness without real skills, thought, or judgment. Most employers are no longer impressed.

Students with such high opinions of themselves are angry that others less aware — young bond traders, computer geeks, even skilled truck drivers — make far more money. Does a music degree from Brown, a sociology BA in progress from San Francisco State, two years of anthropology at UC Riverside count for anything? They are angry at themselves and furious at their own like class that they think betrayed them. After all, if a man knows about the construction of gender or a young woman has read Rigoberta Menchu, or both have formed opinions about Hiroshima, the so-called Native American genocide, and gay history, why is that not rewarded in a way that derivatives or root canal work surely are?

Class — family pedigree, accent, clothes, schooling — now mean nothing. You can meet your Dartmouth roommate working in Wall Street at Starbucks, and seem for all appearances his identical twin. But when you walk out the door with your environmental studies degree, you reenter the world of debt and joblessness, he back into the world of good money. Soooo unfair for those of like class.

October 24, 2011

Obama organizers seeks poster artists to work for free on jobs campaign

Filed under: Media, Politics, USA — Tags: , , — Nicholas @ 08:59

No, really, the irony meter just pegged:

The Obama campaign has more than $60 million cash on hand. In an economy this bad, you’d think a presidential campaign that flush would be happy to pay good money for a talented designer to create a campaign poster.

But the folks at Obama campaign have taken a page from the Arianna Huffington book of economic exploitation and called on “artists across the country” to create a poster … for free.

And here’s the kicker. It’s a jobs poster.

Yes, the Obama campaign is soliciting unpaid labor to create a poster “illustrating why we support President Obama’s plan to create jobs now, and why we’ll re-elect him to continue fighting for jobs for the next four years.”

H/T to Virginia Postrel (via Google+) for the link.

October 11, 2011

What the “Occupy #LOCATION” folks should really be protesting

Filed under: Economics, Liberty, Politics, USA — Tags: , , , , , , — Nicholas @ 12:09

Caroline Baum puts her finger on the real looming crisis that the folks out in all the various Occupy Wall Street/Bay Street/Seattle/Edmonton gatherings should really be agitating about:

Oh, sure, some protesters have posted lists of pie-in-the-sky demands. (The occupywallst.org website insists there is no official list of demands.) One of these includes a $20 minimum wage regardless of employment, tariffs on all imports, trillions of dollars in new spending on alternative energy and infrastructure, and debt forgiveness — all debt “on the entire planet.”

In other words, lots of benefits and no consideration of the cost. You’d think one of these kids — and that’s how they come across — would have taken an economics course along the way. Where do they think the government gets the money for its largesse? Imposing usurious taxes on the top 1 percent of earners won’t yield enough money to provide for the other 99 percent. (One of the protesters’ slogans is, “We are the 99 percent that will no longer tolerate the greed and corruption of the 1 percent.”)

It’s not as if young adults couldn’t find good targets for their anger. If these protesters are looking for something to get exercised about, they might want to wander into Chris McHugh’s Monetary Economics class at Tufts University in Medford, Massachusetts, and learn about “generational economics,” the idea that government is going to stick the younger generation with the bill for supporting the retiring baby boomers. McHugh asked his students to identify grass-roots youth groups that are agitating about this, but all they found were a couple of minor groups that tended to be Tea Party and Ron Paul spinoffs.

Talk about haves and have-nots. The debt burden that the younger generation is staring at almost guarantees it will have a reduced standard of living. After all, if more dollars are directed at keeping Granny alive until age 102, that means fewer dollars for productivity-enhancing investments.

This idea clearly hasn’t resonated with today’s youth.

Maybe that’s because the numbers — tens of trillions of dollars in unfunded Social Security liabilities, for example — are hard to fathom. It’s much easier to vent their anger at bank bailouts and preferential treatment for corporate interests, much of which is justified. They seem to be ignoring Capitol Hill, where the rules are made by our bought-and-paid-for government.

Stephen Gordon: There is no case for Canada to “do something” about jobs

Filed under: Cancon, Economics, Government — Tags: — Nicholas @ 09:17

One of the side-effects of living right next door to the US is that Canadians often have more information about the state of the economy in the US than they do about their own economy. Calls for the federal government to “do something” about jobs is a good example:

But it doesn’t make much sense for Canada to ‘do something’ about job creation because of problems in the U.S. labour market. Why would anyone look at U.S. data and go on to infer that the rate of job creation in Canada requires a policy response?

[. . .]

The best proxy I’ve been able to find for the hiring rate is the number of workers who have been at their current jobs for less than three months. Movements in the number of people hired should show up here, albeit with a certain lag. As far as I can make out [. . .] the hiring rate fell significantly in 2009, but returned to trend in 2010. The data from 2011 are consistent with those of the boom years of 2005-2007.

Calling for the government to ‘do something’ about job creation when hiring rates are already at pre-recession levels is puzzling. At best, it is a demand that the government undertake busy work: activities that achieve little beyond demonstrating that it is ‘doing something’. And judging from the response, it is also a demand that the government is happy to meet.

September 23, 2011

Gary Johnson on the “job creation” idea

Filed under: Economics, Humour, Politics, USA — Tags: , , , — Nicholas @ 00:42

September 8, 2011

Play it again, Gibson

Filed under: Bureaucracy, India, Law, USA, Woodworking — Tags: , , , , — Nicholas @ 08:59

Allahpundit posted the video clip above, saying:

If I’m understanding the applicable law correctly, Gibson is as much a victim of Indian protectionism as they are federal meddling. Watch the quickie John Roberts segment for the gist of it. The wood they use to make guitar keyboards is sufficiently rare/endangered that it can’t be exported legally from India unless it’s already been finished by Indian workers, and under U.S. law, if the export is illegal under Indian law, then it’s illegal here too. The governing statute, the Lacey Act, was passed in 1900, but only in 2008 was it expanded to include plants as well as animals, which is why Gibson’s now being hassled about the wood. All of which is jim dandy — except for the question of why Gibson seems to be getting so much federal attention vis-a-vis other firms. Roberts touches on that.

H/T to Jon, my former virtual landlord, who commented “I like the way he pulls the finished guitar fret out of his ass.”

Update: Speaking of Jon, he’s all over this issue with another link and extra commentary:

CHRIS DANIEL: Mr. Juszkiewicz, did an agent of the US government suggest to you that your problems would go away if you used Madagascar labor instead of American labor?

HENRY JUSZKIEWICZ: They actually wrote that in a pleading.

[. . .]

He’s even warned clients to be wary of traveling abroad with old guitars, because the law says owners can be asked to account for every wooden part of their guitars when re-entering the U.S. The law also covers the trade in vintage instruments.

As Jon points out, this is more than just an issue for the musical instrument makers and musicians:

It’s only a matter of time until this is applied to tools and furniture.

I wonder where [hand tool maker] Lie Nielsen’s politics lie — but he should be safe, using domestic cherry for his totes and knobs.

Lee Valley might have a problem exporting to the US, what with bubinga and rosewood components and being based in Ottawa, which is now a hotbed of hard-right conservative political thought. (A co-worker is wondering why I’m giggling to myself here).

September 6, 2011

Stephen Gordon: no case for stimulus in Canada (yet)

Filed under: Cancon, Economics, Government — Tags: , , — Nicholas @ 12:15

As he points out in the article, Canadians who are calling for the federal government to indulge in US-style stimulus spending are not paying attention to the Canadian economy:

Employment in the U.S. is far below its pre-recession levels, and employment in the construction sector has been hit particularly hard. So there is a strong case to be made for a U.S. program of infrastructure spending — and many U.S. observers are making that case.

Neither of these conditions holds in Canada. Although unemployment rates have yet to return to pre-recession levels [. . .], the number of jobs lost during the recession has been recovered, and July employment levels were 1 per cent above their pre-recession peak.

Is the freelancing sector the “new industrial revolution”?

Filed under: Economics, Liberty, USA — Tags: , , — Nicholas @ 09:03

Sara Horowitz, founder of Freelancers Union, presents an anecdote-heavy but data-poor view of the surge in freelancing as “the Industrial Revolution of our time”:

It’s been called the Gig Economy, Freelance Nation, the Rise of the Creative Class, and the e-conomy, with the “e” standing for electronic, entrepreneurial, or perhaps eclectic. Everywhere we look, we can see the U.S. workforce undergoing a massive change. No longer do we work at the same company for 25 years, waiting for the gold watch, expecting the benefits and security that come with full-time employment. We’re no longer simply lawyers, or photographers, or writers. Instead, we’re part-time lawyers-cum-amateur photographers who write on the side.

Today, careers consist of piecing together various types of work, juggling multiple clients, learning to be marketing and accounting experts, and creating offices in bedrooms/coffee shops/coworking spaces. Independent workers abound. We call them freelancers, contractors, sole proprietors, consultants, temps, and the self-employed.

And, perhaps most surprisingly, many of them love it.

I’m in this category myself, as a self-employed technical writer. I buy my own tools, pay my own taxes (reminder to self: next tax installment due on the 15th), and — within reason — set my own working hours. Of course, my clients have a lot to say about when my working hours tend to be, so it’s more an extra degree of flexibility than it is total freedom. But it works well for me.

September 2, 2011

Time perspectives

Filed under: Economics, Education, Media, Technology — Tags: , , , — Nicholas @ 00:06

H/T to Chris Myrick for the link.

September 1, 2011

“It is rather amazing how fast Solyndra wasted over half a billion US taxpayer dollars”

Filed under: Environment, Government, Technology, USA — Tags: , , , , — Nicholas @ 09:34

Mike “Mish” Shedlock looks at the breakneck pace of loss at Solyndra, a solar power company that just went bankrupt:

The federal government should get out of the business of picking technology and “green” winners. Government backing of alternate energy companies has been nothing short of disastrous.

A solar energy firm touted by the administration in 2010 as a as a “gleaming example of green technology” today announced bankruptcy. 1,100+ employees will be fired.

[. . .]

The “seen” math is simple enough. $535 million divided by 1,100 is roughly $486,363 per job saved, now job lost.

That is just the “seen” consequence. The “unseen” consequences are not directly calculable but by giving Solyndra money, other companies that the free market would have preferred have been harmed, perhaps permanently harmed.

Although Obama clearly rushed this pathetic company for a nice photo-op, this is not a simple case of the president failing to do his homework as the GAO implies. The government has no business promoting this kind of crap in the first place.

In this case, it is rather amazing how fast Solyndra wasted over half a billion US taxpayer dollars, so fast I suspect fraud.

Do women earn less than men?

Filed under: Economics, Education — Tags: , , — Nicholas @ 09:27

August 26, 2011

Unexpectedly over-used

Filed under: Economics, Government, Media, USA — Tags: , , , , — Nicholas @ 09:05

Jim Geraghty explains why the word “unexpectedly” has become a punchline:

For about three years now, conservative bloggers have chuckled at how frequently the unveiling of bad economic news comes with the adverb “unexpectedly” in media reports. As Instapundit’s Glenn Reynolds, Michael Barone, and others have often asked, unexpected to whom?

“I think it’s a combination of cognitive dissonance, the terra nova nature of the post-bubble economy, and a healthy dose of partisanship,” suggests Ed Morrissey, who has blogged about the ubiquitous adverb regularly at HotAir.com.

Perhaps the perpetual surprise reflects a media desire to focus on pockets of growth or prosperity — at least with a Democrat in the White House. In a widely diversified $14 trillion economy, one can almost always find some areas of economic improvement.

Certainly, a media that wanted to paint a more dire portrait of the economy would have no shortage of material to work with. There’s considerable evidence that America’s problems in job creation are much worse than the most widely cited numbers would indicate.

For example, President Obama spent much of the past year touting the number of consecutive months of private-sector job growth that the country had enjoyed. But that boast comes with some asterisks. Traditionally, the population of American workers grows each month, and while economists differ a bit on precisely how many new jobs are needed each month just to keep the unemployment rate stable, it’s often more than the figure Obama cites. The Heritage Foundation puts the figure at 100,000 to 125,000; some argue that any serious reduction of the unemployment rate will require adding 200,000 jobs per month. Only four months out of the past 17 have seen at least 200,000 jobs added; some months of growth have been minimal, such as January 2010, when the economy added 16,000 private-sector jobs,. Nonetheless, like a bloop single keeping a batter’s hitting streak going in baseball, meager months of job growth permit Obama to keep bragging about how many consecutive months he has presided over private-sector job growth.

July 17, 2011

In the aftermath of Georgia’s “victory” over illegal farm workers

Filed under: Americas, Food, Law, USA — Tags: , , — Nicholas @ 11:54

Last month, I linked to a story about Georgia’s attempt to crack down on illegal agricultural workers. It was, in terms of achieving its stated goals, a big success: illegal workers left in droves for other jurisdictions. It wasn’t quite as successful from the point of view of farmers:

To combat the shortage, Governor Nathan Deal has authorized using criminal offenders out on probation to replace the mostly Latino migrant workers. It’s not working out so well:

    The first batch of probationers started work last week at a farm owned by Dick Minor…So far, the experiment at Minor’s farm is yielding mixed results. On the first two days, all the probationers quit by mid-afternoon, said Mendez, one of two crew leaders at Minor’s farm.

    “Those guys out here weren’t out there 30 minutes and they got the bucket and just threw them in the air and say, ‘Bonk this, I ain’t with this, I can’t do this,’” said Jermond Powell, a 33-year-old probationer. “They just left, took off across the field walking.”…

H/T to John Henke for the link.

July 6, 2011

Having it all? Not without sacrifices

Filed under: Economics, Law, Liberty — Tags: , , , — Nicholas @ 12:29

Scott Greenfield wastes little sympathy with the plaintifss in this case:

How grand would life be if you could enjoy the perks, the glory, the importance and power of being a big shot executive with a major multinational, but got to stay home and play with the kids rather than work? I know, me too. So too the six women suing Bayer for sex discrimination.

While there are plenty of other causes of action that suggest they have some very real gripes. This [. . .] is not their strongest point:

The few women who have advanced beyond the director level and into the highest echelon of management have achieved this rank by sacrificing their personal lives and abandoning work-life balance. Female Vice President of Global Health Economics and Outcomes Research Kathleen Gondek is unmarried with no children, female Senior Director Susan Herster has no children and female Vice Presidents Shannon Campbell and Leslie North have others who serve as primary care-givers to their children.

Can you imagine the sadness at the loss of work-life balance by these women in the “highest echelon of management?” How sad. How wrong. They shouldn’t be there are all if they haven’t figured out that anyone elevated to that position is required to sacrifice their personal lives to perform the heavy burdens that come with the heavy paycheck.

Not worth it for you? That’s cool. Don’t do it. And don’t get the title, or the car, or the paycheck. But you can’t have it all. No man can. No woman can. No one can. And don’t whine about the choice you made, to go for the career at the price of a family life.

June 27, 2011

Stephen Gordon: The “broken window” fallacy of “green” jobs

It’s always nice to see a reference to Frédéric Bastiat in a modern day setting:

But it is possible to oversell the green jobs theme. Job creation should not be a goal of environmental policy, no more than it should be a policy goal in the fields of health or national security. If, instead of hiring people, we could use magic to stop disease, crime and environmental degradation, we would. Pointing to jobs ‘created’ to fix these problems is an error that Frédéric Bastiat identified in his ‘parable of the broken window’. Broken windows generate work for glaziers, but that doesn’t mean that breaking windows will increase national income.

An often-quoted statistic goes something like this: “wind energy produces 27 per cent more jobs per kilowatt hour than coal plants and 66 per cent more jobs than natural gas plants”. This could well be true, but it is hardly a strong argument in favour of the employment opportunities that would be generated by investing in wind energy: hiring more people to produce less energy is not a strategy for prosperity. Similar gains in employment could be obtained by outlawing mechanical excavators so that all digging must be done by hand. It may make sense to encourage the development of wind power, but increased employment is most emphatically not one of the reasons for doing so.

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