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Re: Stay in school! I mean it!
Old 11-02-2005, 06:33 PM   #21
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Re: Stay in school! I mean it!

China, India and other cheap labor developing countries have many problems. Cultural barriers to certain types of work (males and females working together in India for example). Intermittent electricity/telephone/water service. Red tape, bureaucracy and bribery. Uncertain legal systems. Threats to notions of private property. Inefficiencies. Poorly developed or unreliable infrastructure. Uneducated and unskilled workforces.

Most of these will improve over time, but improvements cost money, and that will push the price of labor up.

Foreign labor may be cheap, but it is still quite a hurdle to outsource effectively. Many jobs can't be outsourced. Many more are not able to be outsourced due to economic unfeasibility.
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Re: Stay in school! I mean it!
Old 11-02-2005, 06:59 PM   #22
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Re: Stay in school! I mean it!

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[For more on "Why Stay in School?", see Andrew Hacker's Money: Who has how much and why. The chart on page 218 is particularly revealing. Fully 20% of workers with only a high school diploma earn more than 30% of the people holding graduate degrees. I suspect these results would be even worse (for the case that graduate school pays) if the analysis excluded MDs, JDs and MBAs from the Top 5 business schools.

/quote]

This is from the rehomepage
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Re: Stay in school! I mean it!
Old 11-02-2005, 07:11 PM   #23
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Re: Stay in school! I mean it!

WC, my man, you having a down week, first the hellraiser mask avatar, then the shawshank redemption quote? Come back to us man! Hope is a good thing!
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Re: Stay in school! I mean it!
Old 11-02-2005, 10:28 PM   #24
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Re: Stay in school! I mean it!

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Originally Posted by TargaDave
...compared to the many middle class manufacturing jobs going away. Still a net loss.
Manufacturing jobs are disappearing world wide. Robots are cheaper. Their healthcare is cheaper. They complain less. According to many sources, China is losing considerably more manufacturing jobs than anyone else - because they have more to gain in the area of productivity.

Well, those manufacturing jobs were never as good as the agricultural jobs they replaced anyway.
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Re: Stay in school! I mean it!
Old 11-02-2005, 10:39 PM   #25
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Re: Stay in school! I mean it!

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WC, my man, you having a down year week, first the hellraiser mask avatar, then the shawshank redemption quote? Come back to us man! Hope is a good thing!
Sorry Laurence, I'll try
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Re: Stay in school! I mean it!
Old 11-03-2005, 01:58 AM   #26
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Re: Stay in school! I mean it!

As I've said before, if we are to survive financially we need to turn into a nation of business owners (stock owners will do for this assumption).* I don't have stats to refute what moghopper stated and have no reason to disbelieve them, but the number of college participants went from 32% to 53% roughly and the pay for college grads went up roughly 20-34%.* All I see is a bunch of people who are making it to the ownership level.

I'll bet, can't say for sure, that the majority of the 21% increase in college participants came from the lower and middle class.* So the assumption I hear, often from a certain segment of society, that the middle class is being replaced by the lower class, I believe is bunk.

Edited to add:
The minimum wage is nothing more than welfare by business. We just had the minimum wage increased in Florida. Many of the people I work with, who voted for it, are now complaining because the cost of goods went up. It's funny to heard them complain. They say," I didn't receive a pay raise why should I have to pay more." DOH!!!! You bonehead you have to pay more because a single mother can't raise four kids on minimum wage as it was. Guess what she can't do it now either, because the cost of everything just went up more than the cost of the pay increase (Gotta pay them Social Security taxes).
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Re: Stay in school! I mean it!
Old 11-03-2005, 05:08 AM   #27
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Re: Stay in school! I mean it!

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Originally Posted by Cut-Throat
Having a college degree or more is certainly mandatory in today's job market. However, it does not guarantee a good job, like it did 30 years ago.

Just ask the 3 waitresses at my coffee shop that have masters degrees. They are currently going to nursing school. Hoping to get that 'Sweet third shift' that pays about $30K-$40K per year!

The middle class of the U.S. is becoming extinct. Look for us to become at lot like Latin America. A very, very few very.very rich and Lots of Poor Folk!
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That may be true in certain fields, but the accounting, civil engineering, structural engineering, mechanical engineering, hvac engineering and even business degrees are all still door openers to a middle class income. Problem comes with degrees in fields not in high demand.
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