Rating

★★★☆☆

Category

non-fiction

Read

2018-10-01

Pages

304

Good read if you’re interested in the topic.

• High paying knowledge jobs cause a “spill over” effect, creating a surprising number of other jobs: “Indeed, my research shows that for each new high-tech job in a city, five additional jobs are ultimately created outside of the high-tech sector in that city, both in skilled occupations (lawyers, teachers, nurses) and in unskilled ones (waiters, hairdressers, carpenters). For each new software designer hired at Twitter in San Francisco, there are five new job openings for baristas, personal trainers, doctors, and taxi drivers in the community.”
• Seattle was a shithole only like 30-40 years ago but now it’s great.
• “Since college graduates are not compensated for the benefit that they bestow on everyone around them, there are fewer college graduates than we as a society would ideally like. To put it differently, if the salary of college graduates reflected its full social value, more people would go to college. One way to correct for this market failure is to provide public subsidies for college education. Indeed, this is the reason that state and local governments pick up much of the cost of educating their residents. There are certainly other reasons to justify public investment in higher education—political and ethical—but I know of none more powerful than this one. It is in our own interest to subsidize other people’s education, as it ends up indirectly benefiting us.”
• America is in big trouble, education wise. Need to either fix high school or fix immigration.