tag:blogger.com,1999:blog-7905515.post7888489093469711492..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: Federal Regulators At WorkEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7905515.post-30505077450263745812011-01-04T12:20:54.425-06:002011-01-04T12:20:54.425-06:00Oops! This is a comment on the previous article, n...Oops! This is a comment on the previous article, not this one. Clearly I'm not a college man...Mercurynoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-27865023182795704322011-01-04T07:02:11.238-06:002011-01-04T07:02:11.238-06:00I don't see what the puzzle is. Let's assu...I don't see what the puzzle is. Let's assume the 80% wage premium is real yet only 40% take this "carrot."<br /><br />College (should) involve some real difficulty plus it's time consuming and expensive. That's a big hurdle for a lot of people even if the lifetime earnings math still favors getting that BA/BS. In fact, if they can't do that math...that says a lot.<br /><br />That math is about averages anyway. The very top earning college grads are probably skewing the numbers and hiding a lot of people who are just getting by or are still very much under water quite a ways down the road...especially these days.<br /><br />I'd also be wary of any data that reaches too far back - like to a time when there were much fewer colleges that were more selective and turned out much higher caliber graduates.<br /><br />The "dumb money" here is the group that pays a decent amount to go to a crappy college, not the group that could but chooses not to go to college. Let's see some stats on ethnic identity majors who graduate with $150k in debt.<br /><br />If you can get into a top college - go. If you can get someone else to pay for college - go. Outside of that, don't assume a wage premium. <br /><br />The only sure thing in America right now is the government job wage premium. You can take that to the bank.Mercurynoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-82388538216827295362011-01-03T13:19:53.517-06:002011-01-03T13:19:53.517-06:00by discriminate, I mean, if x is an indicator, and...by discriminate, I mean, if x is an indicator, and x~U[0,1], it will either set the x trigger level at 0 or 1, because in between is too nuanced for a large federal agency.Eric Falkensteinhttps://www.blogger.com/profile/07243687157322033496noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-31936416193609188352011-01-03T13:06:15.898-06:002011-01-03T13:06:15.898-06:00What precisely do you mean by the word 'discri...What precisely do you mean by the word 'discriminate'? Are you arguing something like, the government uses simple pass/fail criteria for screening rather than human judgement, or something else? Is this a sort of information overload paralysis? The only way to process the huge volume of data the government collects is through simple, low-quality heuristics like ignore single source tips?Anonymoushttps://www.blogger.com/profile/05431036725490947171noreply@blogger.com