News for hackers. Stuff that matters.
Re:There are 5,057 janitors in the U.S. with PhDs by yummyfajitas on Saturday October 23, 2010 @09:34AM (#1823442)
Are you saying that you consider the subsidy for your attendance at Rutgers was a waste of taxpayer's money as well?

It probably was. It's not as clear cut as the case of the waiter, but I don't think my current work creates a benefit for the taxpayer as large as the subsidy I received. When I was still an academic, I created a larger external benefit [1], but it's far from clear that it was positive.

If subsidies were abolished, I expect college would become cheaper and more efficient, most academics would find new employment, and most marginal students would not attend college.

[1] Currently I work as a trader, and most of the benefits I provide are captured by myself and my company. None of my academic research projects have resulted in anything useful yet, though admittedly the jury is still out (people are still exploring some of the lines of inquiry I created).

Re:There are 5,057 janitors in the U.S. with PhDs by sesqu on Saturday October 23, 2010 @01:35PM (#1823939)
What about your next job? As long as education is done at the start of one's life, we can't look at its manifested usefulness for "young" people. You can maybe make preliminary tallies at 45-50, at which point I would expect the course of their life is better defined and the contribution of various periods can start being evaluated.
Re:There are 5,057 janitors in the U.S. with PhDs by anigbrowl on Sunday October 24, 2010 @03:08AM (#1825495)
Thanks for the clarification.