Path: news.ccsf.jp!norn-news!netnews.mcu.or.jp!mmcatv.co.jp!jpix!newsfeed2.kddnet.ad.jp!newsfeed2.kddnet.ad.jp!news.glorb.com!news2!postnews.google.com!40g2000prx.googlegroups.com!not-for-mail From: Declan Murphy Newsgroups: fj.life.in-japan Subject: Phun with Phil Date: Fri, 5 Dec 2008 10:00:53 -0800 (PST) Organization: http://groups.google.com Lines: 21 Message-ID: <1214b54c-900a-403d-9e28-ae00c991560b@40g2000prx.googlegroups.com> NNTP-Posting-Host: 220.210.10.146 Mime-Version: 1.0 Content-Type: text/plain; charset=ISO-8859-1 Content-Transfer-Encoding: 7bit X-Trace: posting.google.com 1228500054 5107 127.0.0.1 (5 Dec 2008 18:00:54 GMT) X-Complaints-To: groups-abuse@google.com NNTP-Posting-Date: Fri, 5 Dec 2008 18:00:54 +0000 (UTC) Complaints-To: groups-abuse@google.com Injection-Info: 40g2000prx.googlegroups.com; posting-host=220.210.10.146; posting-account=dFdNnAoAAACo_-792nICp6wBtnsk5ZbZ User-Agent: G2/1.0 X-HTTP-UserAgent: Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 6.0; SLCC1; .NET CLR 2.0.50727; Media Center PC 5.0; .NET CLR 3.5.30729; .NET CLR 3.0.30618),gzip(gfe),gzip(gfe) Xref: news.ccsf.jp fj.life.in-japan:167738 From one of my fave bloggers... Let's revisit two young MIT graduates. Back in 2005 I found them sharing an apartment. My student was earning $90,000 per year working 80 hours per week on a new videogame. His classmate was selling $750,00 mortgages to people with bad credit, earning $150,000 per year working six hours per day http://blogs.law.harvard.edu/philg/2005/11/19/the-value-of-an-mit-education/ I figured that this couldn't last forever. A society could not continue bestowing most of its economic rewards on those citizens who contributed the least to sustainable GDP growth. I thought that surely the pendulum would swing back and the engineer would be reaping much more in the way of rewards than the mortgage fee collector. What's the story in 2008? The mortgage gig came to an end and our young genius is now in law school, preparing to join his fellow lawyers in reducing GDP. What about our diligent engineer? Laid off when the project ran over budget and got canceled. He's looking for work.