UChicago: Bad Bang for the $ ?

JHS
Thu, 08 Jul 2010 20:44:01 +0000

No, you still don’t understand what they are saying. They are saying that the median UofC alumnus wage-slave earns $1 million more over 30 years than (a) what the median high school graduate wage-slave earns over 34 years (the same 30 years, plus working while the college kid was in college), plus (b) the cost of the college degree. Or, more precisely, the median responding wage BA-only wage slaves from each of the last 30 UofC classes, as a group, earned about $1.4 million more than the median high school graduate wage earners from each age group 18-51 combined. So the $1 million probably translates into something like $2.5 million earnings (from wages only) over the 30 years, or maybe $80,000/year average.

And everything Pizzagirl says is right, in addition to which the wage slaves aren’t the ones who are maximizing their earnings. So the whole project is dumb.