The Ultra-Surplus Job Markets
There was and is the law school bubble and crisis. There are numerous stories about how the academic-market has produced too many PhDs and there is a lack of jobs for said PhDs except in the low-wage and no-benefit adjunct market.
These stories have met with varying degrees of sympathy and non-sympathy depending on a person’s viewpoint. Lawyers and academics do not always make for the most sympathetic subjects. Both groups were seen as being fairly naive and entitled. There are also a fair bit of jokes about practicality because law school has a long reputation of being where English Majors end up after a few years of temping. Lawyers and academics were mocked for their lack of practical skills to bring to the market.
Katie Zavadski and Freddie DeBoer report that there is no a crisis among Pharmacy School students. The story is the same as the law school crisis. There was a bubble when pharmacy students were seemingly able to get high-paying jobs in all markets. Many universities decided that pharmacy schools were a cash cow and students were willing to take on high-amounts of debt because of all the available jobs. This produced an over-supply and now the party is over and students are graduating with six-figures worth of debt.
The difference is that Pharmacy is not a dreamy and impractical major like English Literature or Drama. Pharmacy is highly practical and part of the practical skills that many education reformers, business leaders, and politicians have been pushing for as cure-alls for what ails the current issues with income inequality and the end of the middle class.
I am starting to wonder if we are going to be entering a long-term cycle where almost every job and occupation has more supply than demand and this is going to lead to an ever-increasing amount of wage depression. Arguments over education reform are often arguments over what the point and purpose of education is. American educational policy has a long history of being a tug of war between people who want education to teach academics, critical thinking, writing, and speaking and those who think education should produce people with practical skills for the economy. Many land-grants colleges taught academic subjects but also placed a heavy emphasis on making better farmers, mechanics, and other practical fields.
Freddie DeBoer is right that tooling education to teach hot trades or jobs is largely a futile task because that will end up just producing over-surplus. He also right that practical knowledge and majors are myths. The nature of the market switches cold and rational decisions to being idiotic follies very quickly. This is what happened to people who applied to law school in 2007-2008. This is what is happening to pharmacy majors now. I would place money that it is going to happen to computer coders and programmers in a few years. I’ve heard lots of stories about underemployed college and law school grads taking courses in coding because Tech 2.0 is very hot right now and everyone wants to make a killer app. There is also plenty of evidence of an app glut and most people do not download any or many apps for their smart phones.
The problem is that I am not sure what the solution is to this glut and oversurplus problem. If I were more conspiracy minded, I might say that it was almost planned. I think it certainly benefits the economic elites and corporations to have every profession exist in oversupply.
I’ve written before how American culture makes a mistake about focusing on the kids who get the brass ring of consulting, Big Law, Finance, and Big Tech jobs because these jobs make up a very small bit of the economy. Most lawyers will never work in Big Law and most lawyers never did work in Big Law even during the boom times. The problem is that these small pockets of the economy are seemingly becoming the only ways to be more assured than not about being able to pay back student loans and have a decent career and salary. I don’t think this is good for the American economy or the social fabric of the United States.
knee bent at a 90 degree angle
cartoon porn Top Schools for Fashion Merchandising
cartoon porn8 Tactics to Have Comfortable High Heel Shoes