Are Global Cities Really Doomed to Become ‘Citadels’ for the Rich?

Very interesting review of a Financial Times opinion piece by Simon Kuper “Priced out of Paris“. and asserts that Paris is not alone – it’s a global phenomenon.  This isn’t news, but the analysis in the original article is interesting.

Reviewer Emily Badger points out, idealistically, that it doesn’t have to be this way.

Yes, the more desirable a place becomes, the more expensive it is to live there. But cities also become unaffordable when zoning regulation limits the supply of new housing, or caps the height of new construction. Cities become out of reach when no policies are in place to maintain affordable or mixed-income housing.

Kuper diagnosed the problem, but he didn’t identify the causes – or the slightly more optimistic view that if our intentional choices about how to design and govern cities make them unaffordable, we might also attempt to actively prevent that from happening.

Yeah, like that’s going to happen.

Are Global Cities Really Doomed to Become ‘Citadels’ for the Rich? – Emily Badger – The Atlantic Cities.

Where’s Al-Qaeda when you need them?

Hello? Al-Qaeda? Are you following this?  These are the bad guys:  Neo-Nazi Buddhists in Myanmar! Evidently feeling frisky after the easing of martial law in the country they are torturing and murdering their (Muslim) neighbors.

Nobel Peace Laureate Aung San Suu Kyi has got some ‘splainin to do.

PressTV – Anti-Muslim violence displaces thousands in western Myanmar: UN.

(“Neo-Nazi Buddhists”? What’s the world coming to?)

Education: Is going to college worth it? Uh…maybe

I like The Week magazine because it provides a good sampling of opinion pieces of various newsworthy (and not) items of public interest.  This article from the May 24 issue let me down.  In answer to the provocative question, “Is going to college worth it?” , the article cites several authorities who intentionally muddy the issue, ignoring two fundamental assumptions:

  • How to measure worth: getting a job after graduation, starting salary, life time earnings, life time satisfaction?
  • What to include in the estimate of costs? Tuition, books, housing, interest expense on college loans?

I say they “intentionally” muddied the issue because these assumptions aren’t esoteric details.  They’re fundamental.  Shame on Brenda Cronin (wsj.com) and Dylan Mathews (washingtonpost.com) and on The Week magazine for giving these two unwarranted column inches.

Education: Is going to college worth it?

A new paper from the Brookings Institution claims that “we may have overdone the message” on college.By The Week Staff | May 15, 2013 Maybe “the old college try isn’t the answer for everyone,” said Brenda Cronin in WSJ.com. At least that’s what a new paper from the Brookings Institution claims, warning that “we may have overdone the message” on college. Researchers in Canada have drawn similar conclusions, warning that college degrees don’t guarantee satisfying or well-paid jobs—even though college graduates do have a lower jobless rate than those who didn’t attend college. But there are several factors to consider when deciding whether investing in a college degree makes sense. Students who study engineering and sciences tend to earn more than those who major in arts or education. Vocational-technical training programs that teach programming, plumbing, or welding are also worth exploring, since “employers are desperate” for workers with such skills.The real issue isn’t whether people should go to college, said Dylan Matthews in WashingtonPost.com, but whether colleges are performing well enough. What’s really at issue in the Brookings report “is the ‘return on investment’ ROI to college.’’ That is, how much more money you can expect to earn by going to college than if you don’t go at all. And “generally speaking, the annual ROI for college is enormous.” While science majors, math majors, and highly selective institutions tend to have a higher ROI than less selective schools and humanities programs, they still all report higher lifetime earnings than the average high school graduate. Some colleges that are both expensive and focused on the arts may, in fact, have a negative ROI—that is, fail to pay for themselves after graduation. “But there isn’t a major that reduces lifetime earnings relative to earnings without college.”If you do enroll in college, be sure to see it through, said Matthew Yglesias in Slate.com. “Going to college isn’t a passive investment like buying a four-year bond.” Students have to attend classes, write papers, and do the work to earn their degree. That means individuals need to weigh not just the potential ROI on a college degree, but how likely they are to actually get it—so be sure to research the graduation rates at any schools you’re considering. But there’s also a societal issue here—specifically, the “sheepskin effect.” For some reason, “getting a bachelor’s degree is worth much more than double what completing two years of college and then dropping out is worth.” In some ways, degrees convey diligence and conformity—and employers like that. For an individual, that’s worth keeping in mind. “But as a society, we should ask whether there isn’t some more cost-effective way young people show that they’re willing and able to pursue multiyear projects.”

via Education: Is going to college worth it? – The Week.