economics

Showing 184 posts tagged economics

Student Debt Grows Faster at Universities With Highest-Paid Leaders, Study Finds

At the 25 public universities with the highest-paid presidents, both student debt and the use of part-time adjunct faculty grew far faster than at the average state university from 2005 to 2012, according to a new study by the Institute for Policy Studies, a left-leaning Washington research group.
The study, “The One Percent at State U: How University Presidents Profit from Rising Student Debt and Low-Wage Faculty Labor,” examined the relationship between executive pay, student debt and low-wage faculty labor at the 25 top-paying public universities.

image via flickr:CC | SalFalko

Student Debt Grows Faster at Universities With Highest-Paid Leaders, Study Finds

At the 25 public universities with the highest-paid presidents, both student debt and the use of part-time adjunct faculty grew far faster than at the average state university from 2005 to 2012, according to a new study by the Institute for Policy Studies, a left-leaning Washington research group.

The study, “The One Percent at State U: How University Presidents Profit from Rising Student Debt and Low-Wage Faculty Labor,” examined the relationship between executive pay, student debt and low-wage faculty labor at the 25 top-paying public universities.

image via flickr:CC | SalFalko

theatlantic:

Kids Are Using Bitcoin to Buy Fake IDs Online

The beauty of bitcoin, many of those who use the currency will tell you, is that it’s decentralized. You don’t have to bother with a bank, which means you don’t necessarily leave the kind of paper trail that many other transactions produce. From the user perspective, paying with bitcoin is basically like using cash—only you can do it online. 

So it’s fitting that bitcoin is the currency of choice among online vendors of fake IDs, some of whom now offer discounts to customers who pay that way. Other vendors have gone bitcoin-only, according to a subreddit discussion of popular fake ID sites.
It must be noted that bitcoin isn’t just an underworld currency—in fact, not everyone agrees that it’s currency at all.
Read more. [Image: Reuters]
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theatlantic:

Kids Are Using Bitcoin to Buy Fake IDs Online

The beauty of bitcoin, many of those who use the currency will tell you, is that it’s decentralized. You don’t have to bother with a bank, which means you don’t necessarily leave the kind of paper trail that many other transactions produce. From the user perspective, paying with bitcoin is basically like using cash—only you can do it online. 

So it’s fitting that bitcoin is the currency of choice among online vendors of fake IDs, some of whom now offer discounts to customers who pay that way. Other vendors have gone bitcoin-only, according to a subreddit discussion of popular fake ID sites.

It must be noted that bitcoin isn’t just an underworld currency—in fact, not everyone agrees that it’s currency at all.

Read more. [Image: Reuters]

Teachers get an appreciation week, lawyers take home $70,000 more per year

Now of course there are lots of reasons why the pay shakes out this way. But by pretty much any standard the work that an excellent teacher does is positive-sum for society — the more great teachers there are the more well-educated kids we’ll have and the better off we’ll all become. By contrast the work that excellent lawyers do mostly consists of zero-sum battles to outwit other excellent lawyers. And yet the work of teachers is much less rewarded financially then the work of people in legal and financial occupations that have lower social returns.
High-res

Teachers get an appreciation week, lawyers take home $70,000 more per year

Now of course there are lots of reasons why the pay shakes out this way. But by pretty much any standard the work that an excellent teacher does is positive-sum for society — the more great teachers there are the more well-educated kids we’ll have and the better off we’ll all become. By contrast the work that excellent lawyers do mostly consists of zero-sum battles to outwit other excellent lawyers. And yet the work of teachers is much less rewarded financially then the work of people in legal and financial occupations that have lower social returns.

Study: 2 In 5 Americans Earning Degrees After High School

America may have a shot at rejoining the world’s most educated nations by 2025, according to a report released Monday by the Lumina Foundation. 
The Indianapolis-based foundation’s annual report finds some encouraging data to counter the familiar story of a nation that is famed for its colleges and universities but trails many other countries when it comes to the percentage of people with a degree beyond high school.
High-res

Study: 2 In 5 Americans Earning Degrees After High School

America may have a shot at rejoining the world’s most educated nations by 2025, according to a report released Monday by the Lumina Foundation.

The Indianapolis-based foundation’s annual report finds some encouraging data to counter the familiar story of a nation that is famed for its colleges and universities but trails many other countries when it comes to the percentage of people with a degree beyond high school.

New Teachers Owe $429/month In Loans

A March 26, 2014 report by the New America Foundation points out that as much as 40 percent of the $1 trillion in student debt outstanding was borrowed not for college, but to pay for grad school. And some 80% of of the debt incurred by students who finished their grad school programs in 2012 wasn’t for people going into medicine, law or business, but for less profitable professions, such as teaching.
Should future teachers be taking out massive loans to get their master’s of education degrees?
High-res

New Teachers Owe $429/month In Loans

A March 26, 2014 report by the New America Foundation points out that as much as 40 percent of the $1 trillion in student debt outstanding was borrowed not for college, but to pay for grad school. And some 80% of of the debt incurred by students who finished their grad school programs in 2012 wasn’t for people going into medicine, law or business, but for less profitable professions, such as teaching.

Should future teachers be taking out massive loans to get their master’s of education degrees?

These U.S. Colleges and Majors Are the Biggest Waste of Money

It gets worse. The self-reported earnings of art majors from Murray State are so low that after two decades, a typical high school grad will have out-earned them by nearly $200,000. Here are the degrees (i.e.: specific majors at specific schools) with the lowest 20-year net return, according to PayScale. They are all public schools: Bold names are for in-state students. 
High-res

These U.S. Colleges and Majors Are the Biggest Waste of Money

It gets worse. The self-reported earnings of art majors from Murray State are so low that after two decades, a typical high school grad will have out-earned them by nearly $200,000. Here are the degrees (i.e.: specific majors at specific schools) with the lowest 20-year net return, according to PayScale. They are all public schools: Bold names are for in-state students.

For Reformers: An Important Paper on Worker Compensation & Incentives

Most teachers pay for their own graduate school and ongoing professional training, and over 92 percent buy supplies for their students out of their own pockets. But over the past few years, we’ve seen over 60 percent of teachers working second jobs, dining with their children at food banks, and even selling their blood to make ends meet. Examples of such financial stress and strain can be found in every state in the country; quality teachers are walking away from the profession, and salaries are part of the reason they leave.

Is this the way we want any of our teachers to live? Is this what we think will lead students to higher levels of achievement?

Why teachers’ salaries should be doubled — now