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3 Pages <123>
China getting rid of useless university majors Options
rightsaidfred
#21 Posted : Sunday, November 27, 2011 2:51:15 PM
Rank: Student Council


Joined: 11/13/2011
Posts: 347
Quant wrote:
This is the type of thing you would expect from a government with an obscene amount of power. And Canadians are also guilty of supporting increased government intervention in virtually all facets of life (including & especially education) in the name of "equality" and the "gearter good." And therein lies the hilarity of this type of policy. Humanities, social sciences, and all of the other majors that would be most heavily affected by this tend to be very left leaning individuals who support government intervention to increase efficiency & overall utility. As it turns out, their majors have been empirically proven to not contribute very much to either of those things, and now governments are starting to address that issue through legislation - or they are at the very least considering it.

Personally, I am opposed to mandating what people can and can't major in, regardless of how employable it is (and I've ridiculed humanities/social sciences majors endlessly on here over the past couple of years). But this sort of thing would be difficult to prevent when the majority of postsecondary insitituions are public entities. If the government here decided that certain majors contributed very little to our economic growth, I wouldn't be surprised if the same actions were taken.

This is yet another reason to support a privatized educational system.


I'm against governments mandating anything, but they're doing it because the people who take the useless subjects are complaining about not getting jobs.
Also, China, like every country on earth, is a dictatorship, so...
mynameismattgotmlgo
#22 Posted : Sunday, November 27, 2011 4:12:22 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
ktel wrote:
I love this paragraph. So good. People are way too entitled to think that they should be perfectly happy with everything all of the time. That's not reality. That's why people get divorced all the time. That's why people think they 'deserve' to get a job even though their skills and abilities aren't up to par.

Margaret Wente got lambasted for expressing similar sentiments: http://www.theglobeandma...-people/article2226104/


First of all, great article. Everyone on this forum should read it. Wanting to change the world is a noble cause, worth aiming for, but doing it as a career is unrealistic and getting a university degree is far from the best way of doing it (unless your university degree and the accompanying living expenses are 100% subsidized). There are too many other people trying to do the same thing, and too few jobs for those people. If you want to change the world, volunteering is a much more realistic and equally effective way of going about doing it. Again, you don't need to make saving the world part of your job; make it a hobby. Your job does not need to involve your hobbies; it can and very well should allow you to pursue your hobbies.

People of our generation are too spoiled and too convinced that we can accomplish anything we put our minds to. The real world is all around these people, but they refuse to see it. It is particularly bad with smart high school students who have tons of options available to them and strongly and falsely believe they are capable of accomplishing any and all of them. As they progress through university and start looking for jobs, a lot of them get hit with the reality that you and I have no problem seeing. Those who still refuse to see it end up like the people detailed in that article. I can't help but laugh at them.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
mynameismattgotmlgo
#23 Posted : Sunday, November 27, 2011 4:23:56 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
Quant wrote:
But this sort of thing would be difficult to prevent when the majority of postsecondary insitituions are public entities. If the government here decided that certain majors contributed very little to our economic growth, I wouldn't be surprised if the same actions were taken.

This is yet another reason to support a privatized educational system.


Typical libertarian the-government-will-inevitably-take-it-to-the-extreme argument.

If the government did go to those extremes, then 1) the privatized education system will likely become more prominent, and hippies will still be able to study sociology taught to them by other hippies, 2) if the government chooses to prohibit the privatized education system to not allow that to happen, then it could be for good reason, 3) if it's not for good reason, then we're all F'ed anyway. Libertarians who are against government because of it's ability to effect such laws/rules should be reminded that a "government" does not necessarily have to be in place to enforce such rules; any powerful group can. Powerful groups exist with government and without.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
SassyAmbivalence
#24 Posted : Sunday, November 27, 2011 4:34:25 PM
Rank: Frosh




Joined: 9/7/2011
Posts: 46
mynameismattgotmlgo wrote:
ktel wrote:
I love this paragraph. So good. People are way too entitled to think that they should be perfectly happy with everything all of the time. That's not reality. That's why people get divorced all the time. That's why people think they 'deserve' to get a job even though their skills and abilities aren't up to par.

Margaret Wente got lambasted for expressing similar sentiments: http://www.theglobeandma...-people/article2226104/


First of all, great article. Everyone on this forum should read it. Wanting to change the world is a noble cause, worth aiming for, but doing it as a career is unrealistic and getting a university degree is far from the best way of doing it (unless your university degree and the accompanying living expenses are 100% subsidized). There are too many other people trying to do the same thing, and too few jobs for those people. If you want to change the world, volunteering is a much more realistic and equally effective way of going about doing it. Again, you don't need to make saving the world part of your job; make it a hobby. Your job does not need to involve your hobbies; it can and very well should allow you to pursue your hobbies.

People of our generation are too spoiled and too convinced that we can accomplish anything we put our minds to. The real world is all around these people, but they refuse to see it. It is particularly bad with smart high school students who have tons of options available to them and strongly and falsely believe they are capable of accomplishing any and all of them. As they progress through university and start looking for jobs, a lot of them get hit with the reality that you and I have no problem seeing. Those who still refuse to see it end up like the people detailed in that article. I can't help but laugh at them.



Wait what? Why on earth is getting a liberal arts degree relative to wanting to save the world? I wouldn't be surprised if half of you - if not more (and pardon my assumption) fervently believe that people who get into liberal arts own Macbooks and tweet about world issues while sipping some fair trade coffee - while sporting a haughty air. And are hippies - potential questionable hygiene included.

It might be true for some - and those are the ones smacked with 'reality'. Ofscrewingcourse you won't find a job with a BA in sociology - half the goddamn country is gonna be competing with you with the exact same qualifications. And who gets a 'decent' job solely based on having a BA? Good lord, people graduate with BAs in Mathematics and Physics (said 'employable degrees') and can't get jobs - because it is not concrete. If you get a BA in Engineer you'd get a job in Engineering (hopefully I'd say, so many people are still struggling to find work) no 'duh' you'd use it towards an engineering career.

All the people I know who have remarkable careers all got - guess what? - extra qualifications : Years of experience in said-field, masters, doctorates, PhDs.

I already do work in the future career I want to pursue, and I enjoy it. Happens that once I get a BA and potentially a Masters - I'm going to get 'better pay' doing what I like. Languages. And I'd finally actually get to work for the government. I even already built connections doing (free) internships.

I've prepared myself because I am not idiotic enough to believe that a degree will open up the world to me. I don't mind climbing the said-ladder and the degree that I want to take is not only employable , but in high demand (and expected to be in even higher demand by 2020).

My ex's brother finished business school in Boston and he can't land a job. My brother has an electrical engineering degree and I can't say the 'job-search' is working for him.

You can't dump your degree on the employer's table and say 'here - hire me'.

Good luck perhaps with a degree in political science, psychology, sociology - or any other BA by itself.

You want a job? The reality is, get extra qualifications beyond a BA - extra schooling, unpaid experience, whatever. Getting knocked up thinking your Laurier BA in sociology is gonna do the trick is setting yourself for failure.

---
University of Toronto - St-George - Class of 2016
Quant
#25 Posted : Sunday, November 27, 2011 4:39:11 PM
Rank: Senior Student


Joined: 8/24/2011
Posts: 100
mynameismattgotmlgo wrote:
Quant wrote:
But this sort of thing would be difficult to prevent when the majority of postsecondary insitituions are public entities. If the government here decided that certain majors contributed very little to our economic growth, I wouldn't be surprised if the same actions were taken.

This is yet another reason to support a privatized educational system.


Typical libertarian the-government-will-inevitably-take-it-to-the-extreme argument.

If the government did go to those extremes, then 1) the privatized education system will likely become more prominent, and hippies will still be able to study sociology taught to them by other hippies, 2) if the government chooses to prohibit the privatized education system to not allow that to happen, then it could be for good reason, 3) if it's not for good reason, then we're all F'ed anyway. Libertarians who are against government because of it's ability to effect such laws/rules should be reminded that a "government" does not necessarily have to be in place to enforce such rules; any powerful group can. Powerful groups exist with government and without.


1. I'm not a libertarian.
2. You have no idea what a libertarian is, nor do you seem to have a grasp of political philosophy. Libertarians are not anarchists, therefore they do not support abolishing government as you seem to imply.
3. Upon what ethical grounds do you believe you should have any say in what someone else studies? It should not concern you what another individual chooses to study, regardless of how silly it may be. Just as Christians should not be concerned with whom another person chooses to consensually have sex with.

Your utilitarian argument presented in previous posts is unacceptable. If you are basing your support for this kind of policy on utilitarianism, why not go a step further and support the genocide of homeless people, as they contribute significantly less to society than arts/humanities/social science majors, and it would without question, increase overall efficiency & utility. In fact, this would definitely lead to higher economic growth.

You are not to be taken seriously.
SassyAmbivalence
#26 Posted : Sunday, November 27, 2011 4:40:08 PM
Rank: Frosh




Joined: 9/7/2011
Posts: 46
What I'm gonna say here is this : Do whatever the goddamn hell you like - but at the end, don't blame (or thank) none but yourself.

What I hate are individuals who knew their degree might not be the most 'employable' - yet complain about the government and external forces when they can't make ends meet. You know what you are setting yourself for - be smart enough to ensure you'll secure yourself a job.
University of Toronto - St-George - Class of 2016
mynameismattgotmlgo
#27 Posted : Sunday, November 27, 2011 5:09:40 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
Quant wrote:
mynameismattgotmlgo wrote:
Quant wrote:
But this sort of thing would be difficult to prevent when the majority of postsecondary insitituions are public entities. If the government here decided that certain majors contributed very little to our economic growth, I wouldn't be surprised if the same actions were taken.

This is yet another reason to support a privatized educational system.


Typical libertarian the-government-will-inevitably-take-it-to-the-extreme argument.

If the government did go to those extremes, then 1) the privatized education system will likely become more prominent, and hippies will still be able to study sociology taught to them by other hippies, 2) if the government chooses to prohibit the privatized education system to not allow that to happen, then it could be for good reason, 3) if it's not for good reason, then we're all F'ed anyway. Libertarians who are against government because of it's ability to effect such laws/rules should be reminded that a "government" does not necessarily have to be in place to enforce such rules; any powerful group can. Powerful groups exist with government and without.


1. I'm not a libertarian.
2. You have no idea what a libertarian is, nor do you seem to have a grasp of political philosophy. Libertarians are not anarchists, therefore they do not support abolishing government as you seem to imply.
3. Upon what ethical grounds do you believe you should have any say in what someone else studies? It should not concern you what another individual chooses to study, regardless of how silly it may be. Just as Christians should not be concerned with whom another person chooses to consensually have sex with.

Your utilitarian argument presented in previous posts is unacceptable. If you are basing your support for this kind of policy on utilitarianism, why not go a step further and support the genocide of homeless people, as they contribute significantly less to society than arts/humanities/social science majors, and it would without question, increase overall efficiency & utility. In fact, this would definitely lead to higher economic growth.

You are not to be taken seriously.


1) I never was implying that libertarianism advocates an abolishment of government, nor did I ever say that you were libertarian (nor do I care that you are or are not). I just said that what you said is a typical libertarian thing to say. Libertarians, in general, are against the current government and fear it has the wrong intentions. What you said is more or less what a typical libertarian would say; that's all I was saying. Of course you have to twist my words to then and only then make what I was saying untrue.

2) Again, your arguments always seem to take things to the extreme. I agree, for instance, that homeless people contribute very little to the world, but why kill them? Even from a utilitarian perspective, their potential benefit to society likely exceeds the cost (monetary and emotional, particularly on the behalf of super-humanitarians who are going to make a big fuss) of having to kill them.

3) I never said that the government should have a say in what people choose to study; it should educate people on the employability of their major and the importance of that employability on those people's lives and the state of the economy. Individual people are dumber and more ignorant than the collective minds of the government. As it is the government's goal to better the lives of the people both individually and collectively, the government should strive to reduce people's ignorance.

If you get rid of your twisting my words and taking my statements to the extreme, you'll see that I am libertarian-leaning. Where you and I usually differ is not in direction but magnitude. You and I both believe that people should, at least for the most part, be left to their own accord. Where we differ is that you seem to have more faith in each person's ability and willingness to do what is best for himself and everyone else. You seem to believe that this person should be provided with little to no guidance, as he is perfectly capable of managing the world on his own. I agree that most people are that way, but the few people who aren't are the sole reason that a strong guidance system should remain in place. If I am wrong about where you stand, then it is only because you spend too much time criticizing what you believe to be my argument and too little time actually making your own argument or, when I do actually misunderstand you, correcting my misunderstanding.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
Quant
#28 Posted : Sunday, November 27, 2011 5:29:10 PM
Rank: Senior Student


Joined: 8/24/2011
Posts: 100
mynameismattgotmlgo wrote:
Quant wrote:
mynameismattgotmlgo wrote:
Quant wrote:
But this sort of thing would be difficult to prevent when the majority of postsecondary insitituions are public entities. If the government here decided that certain majors contributed very little to our economic growth, I wouldn't be surprised if the same actions were taken.

This is yet another reason to support a privatized educational system.


Typical libertarian the-government-will-inevitably-take-it-to-the-extreme argument.

If the government did go to those extremes, then 1) the privatized education system will likely become more prominent, and hippies will still be able to study sociology taught to them by other hippies, 2) if the government chooses to prohibit the privatized education system to not allow that to happen, then it could be for good reason, 3) if it's not for good reason, then we're all F'ed anyway. Libertarians who are against government because of it's ability to effect such laws/rules should be reminded that a "government" does not necessarily have to be in place to enforce such rules; any powerful group can. Powerful groups exist with government and without.


1. I'm not a libertarian.
2. You have no idea what a libertarian is, nor do you seem to have a grasp of political philosophy. Libertarians are not anarchists, therefore they do not support abolishing government as you seem to imply.
3. Upon what ethical grounds do you believe you should have any say in what someone else studies? It should not concern you what another individual chooses to study, regardless of how silly it may be. Just as Christians should not be concerned with whom another person chooses to consensually have sex with.

Your utilitarian argument presented in previous posts is unacceptable. If you are basing your support for this kind of policy on utilitarianism, why not go a step further and support the genocide of homeless people, as they contribute significantly less to society than arts/humanities/social science majors, and it would without question, increase overall efficiency & utility. In fact, this would definitely lead to higher economic growth.

You are not to be taken seriously.


1) I never was implying that libertarianism advocates an abolishment of government, nor did I ever say that you were libertarian (nor do I care that you are or are not). I just said that what you said is a typical libertarian thing to say. Libertarians, in general, are against the current government and fear it has the wrong intentions. What you said is more or less what a typical libertarian would say; that's all I was saying. Of course you have to twist my words to then and only then make what I was saying untrue.

2) Again, your arguments always seem to take things to the extreme. I agree, for instance, that homeless people contribute very little to the world, but why kill them? Even from a utilitarian perspective, their potential benefit to society likely exceeds the cost (monetary and emotional, particularly on the behalf of super-humanitarians who are going to make a big fuss) of having to kill them.

3) I never said that the government should have a say in what people choose to study; it should educate people on the employability of their major and the importance of that employability on those people's lives and the state of the economy. Individual people are dumber and more ignorant than the collective minds of the government. As it is the government's goal to better the lives of the people both individually and collectively, the government should strive to reduce people's ignorance.

If you get rid of your twisting my words and taking my statements to the extreme, you'll see that I am libertarian-leaning. Where you and I usually differ is not in direction but magnitude. You and I both believe that people should, at least for the most part, be left to their own accord. Where we differ is that you seem to have more faith in each person's ability and willingness to do what is best for himself and everyone else. You seem to believe that this person should be provided with little to no guidance, as he is perfectly capable of managing the world on his own. I agree that most people are that way, but the few people who aren't are the sole reason that a strong guidance system should remain in place. If I am wrong about where you stand, then it is only because you spend too much time criticizing what you believe to be my argument and too little time actually making your own argument or, when I do actually misunderstand you, correcting my misunderstanding.


I'm pretty sure you said you agreed with China's policy. Maybe I'm wrong.

The only reason I take things to the extreme is because it serves as a good litmus test for intellectual consistency. Naturally, I do not support killing homeless people, nor do I support the govenment legislating what people can major in.

So your agument basically boils down to "the government should guide people towards certain majors." Why does the government have to educate people on the employability of their major? There are numerous independent studies out there which outline the employment rates for each major. There is voluminous data already available. Perhaps some people simply do not care.
mynameismattgotmlgo
#29 Posted : Sunday, November 27, 2011 6:05:17 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
I said, "I like it," but I was being facetious. Admittedly, being facetious can be misleading, but I immediately afterwards started talking about how I thought their policy was far too extreme. That should have cleared up any ambiguity.

Yes, that is what my argument boils down to. It's not so much that people don't care; I'm sure most sociology majors, for example, know that their degree likely won't get them a job. I just don't think they fully appreciate what that means, and I think a lot of them falsely believe that they'll be the rare exception. Not everyone can be the rare exception.

It's not that I care that much; in fact, in a twisted way, I kind of like that people like that end up failing and struggling to pay their bills due to hefty student loan payments. That's what they get for lacking foresight and continuously ignoring the facts. It's just that it is a minimal investment for me to provide these people with a reality check; I might as well. If they don't take my advice seriously, and, as is statistically likely, they end up in a crappy position, then, well, I LIKE saying I hate to say I told you so.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
OscarUK
#30 Posted : Sunday, November 27, 2011 7:31:55 PM
Rank: Senior Student




Joined: 4/16/2011
Posts: 240
rightsaidfred wrote:
Your beliefs are misguided, and you are deluded.


Ok.

rightsaidfred wrote:
What's up with Brits being so arrogant? All stuck on their little island, not knowing about how the world really works, lol


Another brilliant and unfounded generalisation. This coming from the guy taking his educational advice from the Chinese, so your prejudices can be forgiven... you just don't know any better.

rightsaidfred wrote:
Which is why you're coming to Canada, spending twice as much as anyone here, to take an arts degree (which is a waste of time and won't get you a job)?


Again, this is unfortunate for you. You see I am half Canadian by birth, thus not only will I not be paying twice as much... but thanks to your countries laws I will be paying half as much when I register as a quebec resident.

rightsaidfred wrote:
Something that'll get me a job.


"Business" at some mediocre university? Good luck, you'll need it.
McGill - Arts

Quant
#31 Posted : Sunday, November 27, 2011 8:06:02 PM
Rank: Senior Student


Joined: 8/24/2011
Posts: 100
mynameismattgotmlgo wrote:
I said, "I like it," but I was being facetious. Admittedly, being facetious can be misleading, but I immediately afterwards started talking about how I thought their policy was far too extreme. That should have cleared up any ambiguity.

Yes, that is what my argument boils down to. It's not so much that people don't care; I'm sure most sociology majors, for example, know that their degree likely won't get them a job. I just don't think they fully appreciate what that means, and I think a lot of them falsely believe that they'll be the rare exception. Not everyone can be the rare exception.

It's not that I care that much; in fact, in a twisted way, I kind of like that people like that end up failing and struggling to pay their bills due to hefty student loan payments. That's what they get for lacking foresight and continuously ignoring the facts. It's just that it is a minimal investment for me to provide these people with a reality check; I might as well. If they don't take my advice seriously, and, as is statistically likely, they end up in a crappy position, then, well, I LIKE saying I hate to say I told you so.


Again, why does it have to be the government who educates these people, when any number of independent entities can, and have, gathered data regarding this issue. Why does the government have to conduct studies using taxpayer dollars so we can discover something we already know? What more can the government do, absent mandating which majors people can take, to educate the populace?

I guess I just don't like taxpayer dollars going to things that are superfluous. As someone who claims they are libertarian-leaning (despite consistently supporting policies which diverge from libertarian philosophy) surely you understand.
mynameismattgotmlgo
#32 Posted : Sunday, November 27, 2011 8:44:53 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
The government doesn't necessarily have to be the one doing it; it's just the only organization that is well-heard by the public and has a genuine concern for the state of the economy. The public also takes it more seriously than private organizations, which are often portrayed as being biased, usually correctly.

And I wasn't saying that the government should conduct the studies; just that it should play a greater role in educating people about what careers (and their related university degrees, college diplomas, trade certificates, etc...) are actually in demand and, conversely, which aren't. In Alberta, for example, there are TV advertisements promoting a website that educates people about what careers are in demand (with particular attention to oil field careers). I believe a lot of its aim is to get people to think more highly of trades careers, which seem to have fallen out of favour in our high-technology, intellectual, university degree-wanting generation. While such things require tax dollars, they probably ultimately generate more tax dollars than they require and create a work force that has more money to spend.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
sllencer
#33 Posted : Sunday, November 27, 2011 10:28:48 PM
Rank: Senior Student


Joined: 6/28/2011
Posts: 188
This is ridiculous. I agree, there are degrees which won't be your ticket to a job, but I think they're missing the bigger picture. It's not just about being employed afterwards. The Arts and other "useless" degrees, are what makes civilization and lift us from barbarism. I can't explain it but we just can't let those programs disappear.
mynameismattgotmlgo
#34 Posted : Monday, November 28, 2011 12:17:09 AM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
sllencer wrote:
The Arts and other "useless" degrees, are what makes civilization and lift us from barbarism.


Way to be cliche.

How do these degrees make civilization and lift us from barbarism? We weren't civilized before these degrees came along? I never realized university had such a profound effect on civilization.

Again, what is wrong with recommending that people study these things on their own time, or minoring in them? While I don't think liberal arts degrees should be eliminated, there's no need for this many people to be getting such degrees. Why the F would you spend thousands of dollars on something you can learn by reading a number of books on your own time, unless you need to have an actual degree (i.e. to get a job)? If you don't plan on or realistically expect to get a job from a degree (through hard work, sucking up, networking, and becoming/being very skilled at communicating and dealing with people), then you're very likely just wasting time and money. You don't believe me? Alright, continue being ignorant and living in the ideal world. My guess is a collection agency a few years from now is what will finally bring you back down to the real world.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
Quant
#35 Posted : Monday, November 28, 2011 12:55:51 PM
Rank: Senior Student


Joined: 8/24/2011
Posts: 100
mynameismattgotmlgo wrote:
The government doesn't necessarily have to be the one doing it; it's just the only organization that is well-heard by the public and has a genuine concern for the state of the economy. The public also takes it more seriously than private organizations, which are often portrayed as being biased, usually correctly.


This right here is a prime example of why it is far more important to educate people (including you evidently) about the adverse effects of public policy created as a result of the government's "genuine concern for the state of the economy" than it is to "guide" people towards certain undergraduate majors.

Here are a few examples, from the US, of how government's genuine concern for the state of the economy manifested itself into public policy:

1. Massive deficit spending to correct the state of the economy during the Great Depression ("The New Deal") that actually resulted in the economy growing below trend (ie - the recovery was delayed by the unprecedented intervention of the public sector.)

2. The quality of education in the US has declined steadily since the inception of the Department of Education.

3. Community Reinvestment Act, which mandated that financial institutions could not discriminate, based on certain chaacteristics, when deciding to whom they can or cannot lend to (in fact, determining which people are creditworthy and which are at probability of default is a process of discrimination, and putting any restriction on this leads to silly things such as subprime lending.)

4. George Bush's enormous bailout/stimulus bill + Obama's equally enormous stimulus bill, which has put the US trillions of $$$ in debt, and has resulted in the decline of their credit rating.

The list goes on and on. I'm sure I could come up with Canadian examples as well, but I'm less interested in Canadian politics.

The point is, markets aren't well enough understood to have such wide reaching decisions made by a central entity like the federal government. It's not like physics, where you can develop some model, calibrate it to the data, and obtain a relatively accurate result. Markets are complicated, and the models that attempt to describe them require frequent calibration. There are also enormous nonlinearities, which means that the inputs to any model are very sensitive to initial assumptions, where small errors in the inputs would lead to astronomical errors in the final result(s). This is why their "good intentions" seem to fail in practice.

I'd rather the government stick to law enforcement, national defense, and protecting civil liberties.
mynameismattgotmlgo
#36 Posted : Tuesday, November 29, 2011 1:37:50 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
Haha. Should have seen that coming. The hard facts you're stating I can't deny. It's what you're implying that I disagree with.

The government sets policy - some good, some bad. You focus only on the bad and insinuate that if the government did not set the bad policy, then the outcome would have been better than it was with the bad policy in place. You not only neglect the good policies that the government institutes, but you just assume that no policy is better than what seems to be a bad policy.

You cite the classic criticism of the effectiveness of Keynesian fiscal policies to stimulate the economy during the Great Depression. Maybe you're right; maybe those policies were ineffective. We can't really be sure if they were effective (on a cost:benefit basis) or not, at least not without relying entirely on circumstantial evidence. A reasonable guess would be that laissez-faire economics would have resulted in a longer lasting depression but with less and fewer long-term implications (particularly public debt). Weighing the costs and benefits of a hypothetical laissez faire response to the Great Depression and comparing them to reality, claiming that the laissez faire approach would have resulted in a better outcome is far fetched. All your examples rely on that kind of far-fetched reasoning.

A policy resulted in a less than ideal outcome; therefore, not having that policy would have resulted in a better outcome. My problem with that statement (i.e. your reasoning in a nutshell) is the "therefore" component of it. It is purely speculative. No better than this statement (which I, FYI, disagree with too): Keynesian-like fiscal policies were put into effect during the Great Depression, which ended not long after; therefore, Keynesian-like fiscal policies brought the Great Depression to an end. There is a big gap between the fact and its supposed inference that is artificially filled by a "therefore". If asked for non-circumstantial evidence or even reasoning to support that "therefore," both your claim and its seemingly converse Keynesian claim fall to sh!t.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
LRooke
#37 Posted : Tuesday, November 29, 2011 1:40:47 PM
Rank: Student Council


Joined: 3/13/2011
Posts: 388
This is how the Chinese will bury us. Good thing I know Mandarin. 你好!

In the end, you can't eat your degree. That's the reality in Asia. They need Doctor, Engineers, and Skilled Tradesmen. Not a legion of Sociology Undergrads. There can only be so many Mcdonalds.

我是一只大西瓜!
mynameismattgotmlgo
#38 Posted : Tuesday, November 29, 2011 1:46:04 PM
Rank: Student Body President


Joined: 12/22/2010
Posts: 1,330
Ich bin ein beijinger.
BMSc Honours Specialization in Medical Science, Minor in Psychology, UWO '09
Bachelor of Pharmacy, University of Alberta '13 - Drop out as of '11
University Certificate in Finance, Athabasca University '12
Petroleum Engineering Technology diploma, NAIT '13
LRooke
#39 Posted : Tuesday, November 29, 2011 1:50:35 PM
Rank: Student Council


Joined: 3/13/2011
Posts: 388
mynameismattgotmlgo wrote:
Ich bin ein beijinger.



Wo men yao xa si ni, Gwai Lo!

Damn, my parents were forward thinking. And to think I hated having to learn the language.
Quant
#40 Posted : Tuesday, November 29, 2011 2:59:19 PM
Rank: Senior Student


Joined: 8/24/2011
Posts: 100
mynameismattgotmlgo wrote:
Haha. Should have seen that coming. The hard facts you're stating I can't deny. It's what you're implying that I disagree with.

The government sets policy - some good, some bad. You focus only on the bad and insinuate that if the government did not set the bad policy, then the outcome would have been better than it was with the bad policy in place. You not only neglect the good policies that the government institutes, but you just assume that no policy is better than what seems to be a bad policy.

You cite the classic criticism of the effectiveness of Keynesian fiscal policies to stimulate the economy during the Great Depression. Maybe you're right; maybe those policies were ineffective. We can't really be sure if they were effective (on a cost:benefit basis) or not, at least not without relying entirely on circumstantial evidence. A reasonable guess would be that laissez-faire economics would have resulted in a longer lasting depression but with less and fewer long-term implications (particularly public debt). Weighing the costs and benefits of a hypothetical laissez faire response to the Great Depression and comparing them to reality, claiming that the laissez faire approach would have resulted in a better outcome is far fetched. All your examples rely on that kind of far-fetched reasoning.

A policy resulted in a less than ideal outcome; therefore, not having that policy would have resulted in a better outcome. My problem with that statement (i.e. your reasoning in a nutshell) is the "therefore" component of it. It is purely speculative. No better than this statement (which I, FYI, disagree with too): Keynesian-like fiscal policies were put into effect during the Great Depression, which ended not long after; therefore, Keynesian-like fiscal policies brought the Great Depression to an end. There is a big gap between the fact and its supposed inference that is artificially filled by a "therefore". If asked for non-circumstantial evidence or even reasoning to support that "therefore," both your claim and its seemingly converse Keynesian claim fall to sh!t.


When did I say anything about free markets producing better aggregate results than Keynesianism? You are arguing something I never stated. Arguments based on utilitarianism are your thing, not mine. I was simply pointing out the failure of policies intended to maximize overall utility and how they did not achieve their intended purpose. If higher economic growth, lower unemployment, or other favorable aggregate economic statistics happen to be a consequence of the free market, that's great - but in no way is that why I support a limited government. Aggregate numbers mean very little to me, as the overall state of the economy does not impact me in any major way. My only concern is me & my immediate surroundings. My support of a free market stems from deontological ethics. That, and i tend to prefer the parameterizable risk that comes with cyclical volatility as opposed to the undefined risk associated with the government's constantly changing rules. BUT, even as Keynesian's will admit, markets are mean-reverting and tend towards equilibrium. So the only thing that macroeconomic stabilization type policies accomplish in the long run is accumulating debt.

Regarding, the prolonging of the Great Depression, there is voluminous research containing multivariate analysis based on time series from prior to the Depression, which shows that not only were key economic indicators growing significantly below trend after the New Deal, but that they grew at a smaller pace than they would in the absence of the New Deal. But that's of less interest to me than the fact that a lot of the policies were unconstitutional (and thus subsequently repealed by SCOTUS.)
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