Comments on: The Lost Generation http://www.samueljscott.com/2009/12/09/the-lost-generation/ Understanding politics from the left, right, and center Sun, 10 Jul 2011 23:07:29 +0000 hourly 1 http://wordpress.org/?v= By: Mike http://www.samueljscott.com/2009/12/09/the-lost-generation/comment-page-1/#comment-1613 Mike Thu, 10 Dec 2009 14:21:19 +0000 http://samueljscott.com/?p=2988#comment-1613 The problem is with degrees that don't lead up to a specific job. Most engineers, nurses, accountants, etc, are doing fine. These are the jobs our parents had that convinced us that college was the way to go. Being a history major? Not so much...so I somewhat agree with being "duped", but I still think that bailouts are pointless, because the people I see struggling with this issue are the ones who never really had any plan to begin with. The problem is with degrees that don’t lead up to a specific job. Most engineers, nurses, accountants, etc, are doing fine. These are the jobs our parents had that convinced us that college was the way to go. Being a history major? Not so much…so I somewhat agree with being “duped”, but I still think that bailouts are pointless, because the people I see struggling with this issue are the ones who never really had any plan to begin with.

]]> By: Sam Scott http://www.samueljscott.com/2009/12/09/the-lost-generation/comment-page-1/#comment-1612 Sam Scott Thu, 10 Dec 2009 13:42:06 +0000 http://samueljscott.com/?p=2988#comment-1612 Mike, <i>But your argument is we should pay off their student loans, because they should have instead become a mechanic?</i> I am saying that there should be a student-loan bailout instead for two reasons: 1. Our generation was essentially duped. Everyone told is to go to college, no matter what, no matter what you study, no matter the cost -- and you will have a wonderful life! That was a lie. 2. By eliminating this debt burden, young people would be free to spend more money and then stimulate the economy naturally through consumer spending. Mike,

But your argument is we should pay off their student loans, because they should have instead become a mechanic?

I am saying that there should be a student-loan bailout instead for two reasons:

1. Our generation was essentially duped. Everyone told is to go to college, no matter what, no matter what you study, no matter the cost — and you will have a wonderful life! That was a lie.

2. By eliminating this debt burden, young people would be free to spend more money and then stimulate the economy naturally through consumer spending.

]]> By: Sam Scott http://www.samueljscott.com/2009/12/09/the-lost-generation/comment-page-1/#comment-1611 Sam Scott Thu, 10 Dec 2009 13:39:25 +0000 http://samueljscott.com/?p=2988#comment-1611 Jeff, <i>Um, 16-24? That’s hardly a workable definition of “youth,” and it doessn’t seem really useful in the US context.</i> While you are correct, there is a distinction to be made. A statistic like "X% of 16-24 are unemployed" is useless by itself in America. But when the rate of change is significant, that is still telling even though the lower end of the age range does not normally have full-time jobs anyway. The the statistic involved 22-30 year olds, I bet it would reveal practically the same results. Jeff,

Um, 16–24? That’s hardly a workable definition of “youth,” and it doessn’t seem really useful in the US context.

While you are correct, there is a distinction to be made. A statistic like “X% of 16–24 are unemployed” is useless by itself in America. But when the rate of change is significant, that is still telling even though the lower end of the age range does not normally have full-time jobs anyway.

The the statistic involved 22–30 year olds, I bet it would reveal practically the same results.

]]> By: Mike http://www.samueljscott.com/2009/12/09/the-lost-generation/comment-page-1/#comment-1610 Mike Thu, 10 Dec 2009 01:30:41 +0000 http://samueljscott.com/?p=2988#comment-1610 "A liberal-arts education is wonderful for a brain, but it no longer guarantees a good job." But your argument is we should pay off their student loans, because they should have instead become a mechanic? College is expensive and the debt is so burdensome because too many people are spending 30-40K a year to enter a profession that pays 25K a year. That doesn't make sense. Too much demand for the degree, not enough demand for the job. The last thing we should do is reward more stupid behavior so the same group can go out and buy a house just to support the stupid behavior of the seller who didn't think their home value might go down. “A liberal-arts education is wonderful for a brain, but it no longer guarantees a good job.”

But your argument is we should pay off their student loans, because they should have instead become a mechanic?

College is expensive and the debt is so burdensome because too many people are spending 30-40K a year to enter a profession that pays 25K a year. That doesn’t make sense. Too much demand for the degree, not enough demand for the job. The last thing we should do is reward more stupid behavior so the same group can go out and buy a house just to support the stupid behavior of the seller who didn’t think their home value might go down.

]]> By: Jeff http://www.samueljscott.com/2009/12/09/the-lost-generation/comment-page-1/#comment-1609 Jeff Wed, 09 Dec 2009 18:45:01 +0000 http://samueljscott.com/?p=2988#comment-1609 Um, 16-24? That's hardly a workable definition of "youth," and it doessn't seem really useful in the US context. After all, it includes 6 years of people who generally don't have full-time or "real" jobs. While it may be useful in other parts of the world, where perhaps you're on your own at 18 or 16, I think it conflates two discreet cohorts. Not useful. Um, 16–24? That’s hardly a workable definition of “youth,” and it doessn’t seem really useful in the US context. After all, it includes 6 years of people who generally don’t have full-time or “real” jobs. While it may be useful in other parts of the world, where perhaps you’re on your own at 18 or 16, I think it conflates two discreet cohorts. Not useful.

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