Thread: Iron Fist of Capitalism: The Empty Cliff

Results 1 to 6 of 6

  1. #1
    Join Date Mar 2006
    Location Seattle
    Posts 6,164
    Rep Power 68

    Default Iron Fist of Capitalism: The Empty Cliff

    53.6 percent of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years.

    they were more likely to be employed as waiters, waitresses, bartenders and food-service helpers than as engineers, physicists, chemists and mathematicians combined. There were more working in office-related jobs such as receptionist or payroll clerk than in all computer professional jobs. More also were employed as cashiers, retail clerks and customer representatives than engineers

    After earning a biology degree last May, the only job he could find was as a construction worker for five months before he quit to focus on finding a job in his field.

    "I thought that me having a biology degree was a gold ticket for me getting into places, but every other job wants you to have previous history in the field"

    "Everyone is always telling you, 'Go to college,' But when you graduate, it's kind of an empty cliff."
  2. The Following 9 Users Say Thank You to cyu For This Useful Post:

  3. #2
    Global Moderator Supporter
    Forum Moderator
    Global Moderator
    Join Date Jul 2006
    Location Toronto
    Posts 4,186
    Rep Power 63


    Haven't heard the Empty Cliff before, but seems right.
  4. #3
    Join Date Mar 2006
    Location Seattle
    Posts 6,164
    Rep Power 68


    When students first began enrolling in college in large numbers in the 1950s and 1960s, the social bargain was well-understood. States subsidized public two- and four-year institutions, keeping prices low enough that parents could afford to pay out of pocket or students could work their way through school. This arrangement held for several decades.

    As late as the early 1990s, most undergraduates did not borrow.

    Even as the percentage of classes taught by tenured professors declined, new spending on administrators more than filled the gap.

    average tuition and fees at public universities increased by 80% from 2001 to 2012. During the same time period, income for households at the 60th percentile of earnings shrank.

    As soon as you stop going to school, the bills come rolling in, regardless of the unemployment rate. And if you can’t pay them back, your college doesn’t care, because they got their money up front.

    there’s a good chance you’re going to spend most of your 20’s in a state of indentured servitude to a lender or an employer you hate but can’t quit, because the loan bills — undischargeable in bankruptcy, thanks to industry lobbying — will follow you to the end of time. Literally: The Washington Post has reported that $36 billion in loan debt is held by people over 60 years old.
  5. The Following User Says Thank You to cyu For This Useful Post:

  6. #4
    Join Date Mar 2008
    Location traveling (U.S.)
    Posts 14,965
    Rep Power 63


    I guess it's "progress" to be in indentured servitude to academia rather than to a robber baron....

  7. #5
    Join Date May 2011
    Posts 261
    Rep Power 11


    Shoot. I thought this thread was going to be about Tony Cliff.
    "BTW, our Anarchy discussions are evenly divided between police spies/provocateurs and gullible dupes. Welcome to the conspiracy of suckers." - Book O'Dead

    "Communism is a messianic ideology." - Avanti
  8. #6
    Join Date Apr 2007
    Posts 2,334
    Rep Power 22


    Apprenticeship training for a trade is a better investment as it costs less than going to college, university, etc.
  9. The Following User Says Thank You to Lynx For This Useful Post:

Similar Threads

  1. Tony Cliff?
    By Rooster in forum Learning
    Replies: 57
    Last Post: 6th April 2012, 08:08
  2. Why do people think an "iron fist" is bad?
    By EvilRedGuy in forum Learning
    Replies: 21
    Last Post: 21st October 2010, 17:51
  3. Replies: 5
    Last Post: 13th February 2010, 22:51
  4. Anarcho-capitalism: The Empty Ideal
    By Kwisatz Haderach in forum Opposing Ideologies
    Replies: 39
    Last Post: 31st July 2008, 22:14
  5. Tony Cliff
    By Rosa Lichtenstein in forum News & Ongoing Struggles
    Replies: 24
    Last Post: 31st January 2007, 20:18

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Tags for this Thread

Website Security Test