Attention Members of the Faculty: You are NOT Part of the Middle Class
In case you harbor any delusions of grandeur that you or your children will someday rise to fame and fortune in academia, let me gently harsh on your mellow. The truth is, most of our higher education faculty members are now adjuncts, or under a more fancy title, contingent faculty. As this article details, many adjuncts earn about $10,000 a year.
Maybe you’re thinking, “Well, this applies to other people but not to my little Johnny because he is going to be a scientist.” Good luck with that. Science jobs are also getting harder to come by in academia, or anywhere.
Finally, before the reality party is over, I invite you to take a trip to 100 Reasons Not to Go to Graduate School. It is extremely well-written and well cited (the links all work and bring you to current and relevant articles).
And, on a note of full disclosure, yes, I did apply to graduate school this past year. And yes, I am not going.
U.S. | Rising innequalities in the United States was a root cause of the financial crisis
Reblogged from Job Market Monitor:
As noted by The Economist, “[s]everal prominent economists now reckon that inequality was a root cause of the financial crisis.” Indeed, in recent years there has been a proliferation of analyses supporting this view writes Till van Treeck in Did inequality cause the U.S. financial crisis? published on boeckler.de.
The explanation is straightforward: As the benefits of rising aggregate income over the past decades were confined to a rather small group of households at the top of the income distribution, the consumption of the lower and middle income groups was largely financed through rising credit rather than rising incomes.
Wondering Where Your Job Went? Check the Local Prison
Why hire someone for minimum wage when you can get prison labor for half the cost? While work can be an important part of rehabilitation, we have to look at how it impacts the job market when we are turning over millions of jobs to prisoners. From Salon.com: 21st century chain gangs.
Bush and Paulson Save America from Depression!
Bet that got your attention :)
That is the line that Mitt Romney is pushing,
"I keep hearing the president say he's responsible for keeping the country out of a Great Depression," Romney said in front of around 200 people at an American Legion post. "No, no, no, that was President George W. Bush and Hank Paulson."
Reeeeeally? lessee here ...


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