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thepeel
Joined: 08 Aug 2004
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Posted: Sun Jan 27, 2008 6:07 pm Post subject: Are plumbers the new lawyers? |
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A GOOD friend, a product of Britain�s best private schools, with an arts degree from a top university, works for a modest salary in a wine shop in a posh area of London. His colleagues have a similar background. One evening, a large fancy car pulled up to the shop, and a well-dressed man emerged. He entered and proceeded to spend a significant sum on several bottles of fine wine. As the shop employees spoke with him, they were shocked to learn that he was a plumber by trade.
It has become conventional wisdom that taking more education necessarily increases your future income (with the exception of economics post graduate degrees, where students speak disdainfully wistfully of a forgone banking career). There has also become an increased bias against vocational education.
Britain once had a system that enabled only a small fraction of the population to receive a university education. Potential graduates were selected through a series of arcane exams administered to children as young as eleven. In Britain, as in many European countries, people not tracked for university often received vocational training. This practice has become increasingly unpopular, because it is considered unfair, undermines meritocracy, and may not fully exploit the gains from higher education.
Dirk Krueger and Krishna Kumar suspect that the discrepancy in economic growth in the 1980s and 1990s between the US and Europe may have been a result of a greater fraction of the US population receiving a more general education and a smaller emphasis on vocational training. The movement, in the 1980s and 1990s, toward more technical and specialised fields increased the returns from higher education. This may explain the increase in demand for university education in the US, UK, and Europe and the increased social stigma on vocational training.
Limiting higher education to an elite few is not optimal. However, as my wine merchant friend�s experience suggests, the labour market may already be saturated with university degrees, particularly degrees without specific technical skills. Stanford Economics Graduate student, Jonathan Meer, believes we do not exploit an individual�s comparative advantage by marginalising vocational training in the US. Encouraging everyone to take a particular education path does not make use of an individual�s inherent abilities. Further, as vocational skills become increasingly scarce, they will become more valuable. Mr Meer speculates that, �..at least in wealthier areas, a good plumber makes more than a bad lawyer.�
In this century, the increased pace of globalisation has increased the rewards to skilled labour. The skills that reap great rewards in this new economy may actually come from more traditional forms of education. |
http://www.economist.com/blogs/freeexchange/2008/01/a_good_friend_a_product.cfm |
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wannago
Joined: 16 Apr 2004
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Posted: Sun Jan 27, 2008 6:45 pm Post subject: |
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I would say that plumbers and lawyers have a lot in common, although plumbers are infinitely more valuable. One profession deals with getting rid of sh*t and the other deals in spewing it and spreading it around.
Its about time the most worthy of professions starts being paid like the most unworthy. |
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Kuros
Joined: 27 Apr 2004
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Posted: Sun Jan 27, 2008 8:37 pm Post subject: Re: Are plumbers the new lawyers? |
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[quote="thepeel"]
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�..at least in wealthier areas, a good plumber makes more than a bad lawyer.�
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That makes sense. Lawyers are a dime a dozen. I bet plumbers have better hours, too.
But let me make this clear: a law degree is still *very* much worth having. There's precious little you can't do with it. |
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thepeel
Joined: 08 Aug 2004
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Posted: Sun Jan 27, 2008 8:45 pm Post subject: |
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This is a pet topic of mine. My opinion is that there are farrr to many people in liberal arts undergrad programs that are learning essentially nothing, and graduating with tens of thousands of dollars in debt with no skills. The esl industry is a symptom of this.
But as Joseph Alois Schumpeter points out, the university does something else as well. It establishes white-collar values and expectations in people who have no hope of becoming white-collar. They shun blue collar work as they feel above it. Who is going to study sociology and then move on to plumbing? In this case, the arrogance of being a uni grad stunts your vocational advancement. There is nothing at all wrong with being a plumber or welder. These are middle class jobs.
I remember so many people after graduation saying in disbelief "but I have a degree" when being totally unable to find middle class income. The degree is meaningless unless it is directed towards a vocation (engineering, medicine and others). |
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Ya-ta Boy
Joined: 16 Jan 2003 Location: Established in 1994
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Posted: Sun Jan 27, 2008 8:46 pm Post subject: |
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| There's precious little you can't do with it. |
A law degree won't get you a membership card in the plumbers' union. |
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Kuros
Joined: 27 Apr 2004
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Posted: Sun Jan 27, 2008 8:51 pm Post subject: |
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| thepeel wrote: |
I remember so many people after graduation saying in disbelief "but I have a degree" when being totally unable to find middle class income. The degree is meaningless unless it is directed towards a vocation (engineering, medicine and others). |
I have a liberal arts undergrad degree. Its an actual liberal arts degree. It embraces all of the liberal arts. I chose two classes, each of which lasted 6 weeks, in my entire college career.
Anyway, I think there's a lot of merit to what you are saying. But the other problem (besides the fact that most liberal arts degrees are post-modernist fluff) is degree inflation. More people are getting more education. This would not be a problem but for the costs of tuition and rising debt.
I'm all for vocational trades wracking up the money. If I could chose all over again, I'd take a BS in the hard sciences. I could've made real money in patent law that way. Oh, well. |
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contrarian
Joined: 20 Jan 2007 Location: Nearly in NK
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Posted: Sun Jan 27, 2008 9:00 pm Post subject: |
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thepeel is on to something with his comments.
People that actually do something are valuable. Those who sit and pontificate are rather useless. |
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thepeel
Joined: 08 Aug 2004
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Posted: Sun Jan 27, 2008 9:03 pm Post subject: |
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The only thing a liberal arts degree qualifies you for is a masters in the liberal arts, which qualifies you to get a PhD. Now, some people are solid students and very much benefit from this, and the society benefits from them. But when the liberal arts degree is seen as a necessary condition for admission to 'thoughtful' society I think we have a problem.
Most young men who go to Uni, unless going to be doctors or such, would be much more better served getting a trade.
About law. I considered it. The opportunity cost is massive, though.
I was accepted to attend a solid private school in the South. Tuition 34k/yr for 3 years. Forgone income of 50+/- for 3 years. Living expenses of 30k/yr (after the income from summer jobs) for 3 years. Plus the cost of servicing debt. 342,000$ before interest. Now, from the school I was going to attend, the top 10-15% got the "big law" jobs that start at 200k. The the next top 10-15% went to "mid-law" and earn 100-120k$. The rest start at between 30k (to work with a state judge) to 40k (as a entry level government lawyer). If you can't be sure that you will be top 30%, you should not attend. Full stop. If you can't get into a regional top 10 school, you should not attend, full stop. The opportunity cost is huge for the chance at a good job.
I just couldn't justify the expense and picked another path. There are too many law schools and way too many lawyers. |
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thepeel
Joined: 08 Aug 2004
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Posted: Sun Jan 27, 2008 9:10 pm Post subject: |
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| Kuros wrote: |
I have a liberal arts undergrad degree. Its an actual liberal arts degree. It embraces all of the liberal arts. I chose two classes, each of which lasted 6 weeks, in my entire college career.
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I'm familiar with that program. It is excellent. Cincinnati and New Mexico, right? I believe another poster attended there.
You took maths, which renders you very employable. In every interview I've had, I've been asked about my math skills, spreadsheet skills and statistical skills. You don't need a business or econ degree to work in investment banks, econ consultancies or institutions like the World Bank. You just need the maths. I had a tough time at first with the maths in grad school. Darn history undergrad. |
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blaseblasphemener
Joined: 01 Jun 2006 Location: There's a voice, keeps on calling me, down the road, that's where I'll always be
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Posted: Sun Jan 27, 2008 9:29 pm Post subject: |
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liberal arts degrees are good for getting sales rep jobs back in Canada. That's what most guys with them.
Starting pay: $40-45,000 |
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thepeel
Joined: 08 Aug 2004
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Posted: Sun Jan 27, 2008 9:31 pm Post subject: |
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| Sales rep? I don't know anybody who did that. Selling what? |
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Neil
Joined: 02 Jan 2004 Location: Tokyo
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Posted: Sun Jan 27, 2008 9:41 pm Post subject: |
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| Plumbers in London aren't earning as much as they were a few years ago, EU expansion means a lot of Polish and Czech plumbers come over and work cheaper (also doing a more efficent job). |
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Justin Hale

Joined: 24 Nov 2007 Location: the Straight Talk Express
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Posted: Sun Jan 27, 2008 9:47 pm Post subject: |
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Liberal Arts degrees = teaching. That's what I did and although I never imagined I'd end up a teacher, am reasonably glad I am. The main reason is that I can work abroad almost at will (Teachanywhere.com). Were it not for the fact that I save per month what an average Korean family of 3 earns, I wouldn't remain in this primitive dump.
My theory as to the dwindling numbers of plumbers, plasterers, etc is that it is the same reason we have a dwindling number of mothers. Nobody wants to do hard work. We need more guys to go to work and scrub dirt out of their knuckles at the end of a 10 hour hard day and more girls to get pregnant and breed.
I studied Law at college and quit because it was excruciatingly boring. I enjoy law at the everyday, lay level and know a bit about it, but at degree level it's painful. |
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riverboy
Joined: 03 Jun 2003 Location: Incheon
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Posted: Sun Jan 27, 2008 9:53 pm Post subject: |
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There is s flipside to the coin here folks. I have my third block as a carpenter and all my hours as acook. I also ran seismic crews and worked on the oil rigs in Alberta.
I made great money and I heve buddies making a thousand dollars a day without highschool diplomas. I only went to university to learn, I never fit in with the intellectual snobbery and preferred the labour scene. But a car accident which left me unable to work in trades resulted in my coming to Korea and working ESl.
When I graduated highschool, there was not one guidance counsellor in the country who recommended trades. Everyone went into computers and we had a serious shortage of tradesmen in Canada.
Personally I thik it is about diversity. Give a guy an arts degree and a trade and he is still more valuable than a guy with just a trade. |
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wannago
Joined: 16 Apr 2004
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Posted: Sun Jan 27, 2008 9:59 pm Post subject: Re: Are plumbers the new lawyers? |
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| Kuros wrote: |
| But let me make this clear: a law degree is still *very* much worth having. There's precious little you can't do with it. |
You couldn't pay me enough to be a lawyer. I have a conscience and like to sleep at night. |
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