Economics Questions

Re: Interesting post from Steve Landsberg on Median income statistics

Wheylous — Tue, 31 Jul 2012 13:14:41 GMT

giving an 18 year old kid with average high school grades and no direction access to thousands of dollars in low interest loans.

When you put it that way, it does sound silly.

Re: Interesting post from Steve Landsberg on Median income statistics

Prime — Tue, 31 Jul 2012 01:08:42 GMT

I find it egregious that most anyone can qualify for a direct loan backed by taxpayers without any discernment for their ability to repay. Seriously, what are the qualifications for a student loan? I can't think of any more worthless loans (including the subprime lending on homes) than giving an 18 year old kid with average high school grades and no direction access to thousands of dollars in low interest loans.

Re: Interesting post from Steve Landsberg on Median income statistics

Neodoxy — Mon, 30 Jul 2012 22:12:09 GMT

What do you find most egregious about the process?

Re: Interesting post from Steve Landsberg on Median income statistics

Bukujutsu — Mon, 30 Jul 2012 16:48:59 GMT

I think there's certainly good reason to be against college education in its current form.

Re: Interesting post from Steve Landsberg on Median income statistics

Neodoxy — Mon, 30 Jul 2012 15:49:21 GMT

I think no matter what he hits on two very important factors in the entire matter. Firstly that benefits have been growing a lot, this is especially relevant because of the increasing costs of healthcare, but also that many new jobs which have been created in the past few decades are high-skill jobs, part of what get's me nervous about the fact that a lot of people around here seem de facto against any college education.

Re: Interesting post from Steve Landsberg on Median income statistics

Phi est aureum — Mon, 30 Jul 2012 13:24:27 GMT

I've always disliked the median income statistic. Wouldn't it be more useful in combination with knowing the mean income, the range of incomes, and the number of income earners? Then the statistic does tell some relevant information. Would the mean income actually be more effective at demonstrating what incomes are doing over time better, or not?

Re: Interesting post from Steve Landsberg on Median income statistics

Bukujutsu — Mon, 30 Jul 2012 13:17:50 GMT

Unfortunately it may be inaccurate:

http://esoltas.blogspot.de/2012/07/inaccurate-consequences.html

I'm more interested in the (alleged) divergence between productivity and wages, but that may be off topic.

Interesting post from Steve Landsberg on Median income statistics

nirgrahamUK — Mon, 30 Jul 2012 10:44:57 GMT

http://www.thebigquestions.com/2012/07/30/the-numbers-racket/