Speaking on a panel at the World Economic Forum in Davos this week, David Rubenstein reportedly criticized policy initiatives that push students to orient themselves toward science, technology, engineering and mathematics. The real scarcity, he apparently asserted, is in problem solving and critical thinking skills—both of which may be gleaned from the study of humanities, and which over time would yield lucrative rewards. Hence the Rubenstein Hypothesis of Return on Education: “H = MC. Humanities equals more cash.” (more…)
I am unable to understand why a society that complains of unemployment should encourage and embrace every conceivable possibility of replacing human labor by mechanical devices.1
We are suffering, not from the rheumatics of old age, but from the growing-pains of over-rapid changes, from the painfulness of readjustment between one economic period and another…We are being afflicted with a new disease…namely, technological unemployment.2
I don’t understand what’s happening to my country.3
In my previous post, I mentioned how George Packer’s latest book The Unwinding evoked a visceral sense that the country’s political and economic trajectories are untenable, and that it was hard to avoid the conclusion that we’re heading toward A Reckoning.
Over the holiday, I found myself driving along U.S. Route 220 in Virginia, about an hour north of the hometown of Dean Price, one of the central characters of The Unwinding. As I traveled that road, which I’d cruised down several times before, I was reminded of Packer’s chronicling of the decline of the textiles and tobacco industries in the Carolina Piedmont, and how in a very real way, America has been gutted. (more…)
In light of the holiday season and year end, I thought I’d share the best books I read this year. While most of these weren’t published in 2013—a number of them dutifully collected dust on bookshelves in no less than three apartments until they were summoned—the following eight books stand out as my favorites over the past 12 months. (more…)
Last month, FT Alphaville’s Izabella Kaminska picked up a potent critique of free-market capitalism from Pope Francis’s first Apostolic Exhortation.1 I must confess, I’m not a regular reader of papal exhortations—indeed, papal pronouncements of any variety tend not to make my “to read” list2—but the snippets Kaminska selected gave me pause. (more…)