On Dec 5, 12:00 pm, Declan Murphy <declan_mur...@hotmail.com> wrote:
> 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-edu...
>
> 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.

We will this month lay off 4 people. We kindly told them of this a
couple of months back, coincidentally just after I returned from
India. At the end of this month we'll hire 2 people to do the same job
only with a different title and close to less salary combined than any
of the 4 (who had an average 12 years or so with the company and were
all in their late 40s/early 50s).

Life truly sucks.

John W.