Re:Time to Reboot America
by tptacek on Thursday December 25, 2008 @12:35PM
(#409654)
I questioned Friedman's use of anecdotal evidence to make this point about engineering talent being redirected to finance. You've supported Friedman's point with more anecdotes. People were taking physics and engineering degrees and eschewing careers in engineering long before the Wall Street mess happened. My cousin has a nuclear engineering degree; he's in advertising now.
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29% of MIT's graduating class goes into finance.
http://www.questbridge.org/cmp/partner_schools/mit/academics...
I'm sure a large number of those graduates would still work in a non-engineering field if the finance industry didn't exist, but I think that a) a substantial fraction of them would go into engineering, and b) an even more substantial fraction would at least be doing something that creates wealth.
I guess we'll see next year; I don't imagine finance will be a major destination for several years to come.