University of Chicago: $$$$$
October 14, 2009My daughter and I drove to Davenport tonight to meet with a representative from the school. Great school. You can get a great education there. But for what? It would be wasted on most people. If she goes there, she will, as the representative claimed, read “original source materials:” Plato, Homer, Marx, Hobbes, Burke, not interpretations. My daughter is intellectually curious so that is good. It is, however, a consumer good… a very expensive consumer good. Let’s not kid ourselves, it ain’t learning a trade and only a tiny percentage of students who wade through that stuff do it for any reason other than getting the creds of a high dollar education. The education doesn’t mean dick, it is the cred that counts.
“So what?” you say, “a degree from an exclusive university like Chicago is quite a credential.” So it is. For what? A job clerking in Washington for a federal judge? A hedge fund manager on Wall Street? An opportunity to be one more god damned ant on the the concrete ant hill? Not too many years ago I would have been enthralled with the opportunity to make a lot of money as a yuppie in big government or big business. Now even contemplating navigating the intestines of either of those beasts makes me feel the need to shower off the stank.
Frankly, a real college education is too intellectually challenging for most of the high school seniors who slouch off to university. I dare say most are just extending their adolescence a few more years. They should be learning plumbing, carpentry or, I dunno, gunsmithing. Some useful trade… Maybe I am prejudiced, but I believe my bright daughter is smart enough to justify a high-end education, frankly, just as a consumer good. If a real challenge and a desire to become highly educated are her goals, she has my support. As for a diploma as the cred needed for a future career in the bowels of Washington DC or Wall Street, well, I’d just as soon not pay for that folly.
Have you considered a career in gunsmithing, sweetheart?
Jim :
Date: October 14, 2009
Follow Lloyd Dobler’s advice:
“I don’t want to sell anything, buy anything, or process anything as a career. I don’t want to sell anything bought or processed, or buy anything sold or processed, or process anything sold, bought, or processed, or repair anything sold, bought, or processed. You know, as a career, I don’t want to do that.”
Seriously though, education is a life-long process that goes well beyond the confines of a university. There’s just no substitute for real world experience. Not that you can’t learn very valuable things at a college or university but it has its limits. God bless and good luck to your daughter whatever path she should choose RD.
Bob :
Date: October 14, 2009
I went there. The money is a lot. It is hard to justify unless you know what you really want to do. Go state! Then go big!
PS. the IVY league schools are giving full rides to families with less than $100K incomes.
Carolyn :
Date: October 14, 2009
The state of education now is pretty pathetic at all levels. I agree that college for many is just extending their adolescence — all subsidized by the federal government. Just wait… it will get worse because now Obama wants to make the government the only lender for college loans. Can’t wait to see what the cost of a Chicago education is after a few years of that.
James :
Date: October 15, 2009
Learning is honorable and lifelong, R.D.
Currently I have “Elementary Quantum Mechanics” by Peter Fong on my nightstand, although it does help me sleep.
Working in private industry that produces goods people voluntarily pay for, even if on Wall St., there’s nothing disreputable with that.
R.D. Walker :
Date: October 15, 2009
James: “Working in private industry that produces goods people voluntarily pay for, even if on Wall St., there’s nothing disreputable with that.”
I couldn’t agree more. Sadly, a lot of what goes on at Wall Street doesn’t have much to do with that anymore. Manipulating derivatives or most forms of arbitrage, for example, don’t produce or sell anything. In fact, it is just gambling.
A lot of my rambling above has to do with the outlook of middle age and a sad pessimism about the trajectory of the nation. I am still thrilled with the concept of entrepreneurialism and wealth creation.
R.D. Walker :
Date: October 15, 2009
On the other hand, a job in the central bureaucracy may be the only way to get our children off the road to serfdom on which we are all currently marching. Better they be apparatchiks than peasants, right?
James :
Date: October 15, 2009
“Sadly, a lot of what goes on at Wall Street doesn’t have much to do with that anymore. Manipulating derivatives or most forms of arbitrage, for example, don’t produce or sell anything. In fact, it is just gambling.”
Yes, that’s outright fraud. Freedom of choice allows one to move to a better firm once it’s determined a company is engaged in fraud.
I also have a middle aged cloud of despair. It’s the feeling of being trapped. All I want is honest people in decision making positions, and everyone to pay their own way by honest work.
BaconNeggs :
Date: October 15, 2009
I guess University Education have become a bit like designer labels, a name to impress certain people.
I know a couple of people who went to top Universities who spent very little time at the actual University building and a fair chunk of the time doing assignments and course work via the University computers online.
In the end they got the University brand name degree to flaunt.
I guess whether its cars, homes or education, the brand, the location or the name can be a sign of quality though that is not always true.
That said I think the first sign of a good Economist is not to pay more than market value for an Economics brand name Degree, than can be had in the open market.
Hell if I can get virtually the same thing online and pay substantially less, then stingy ole cheapos like me, are going to take that option everytime.