In America Today: "It's WHO YOU KNOW, Stupid!

[KoKo]

By Max Sawicky | bio

Today Krugman elevates a new progressive meme. Not necessarily brand new. I've talked about it myself. From behind the infernal NYT subscription wall, PK calls attention to what I could call the meritocratic fallacy. This fallacy is that income or wage inequality results from an increasing "skill" differential. It's your own damn fault you don't make more money. You should have spent more time drilling calculus and less in all-night games of hearts followed by excursions to Dunkin Donuts. If you're worried about outsourcing, you're a weenie; real men are not afraid to compete in the new world economy.

I would label it the Bullshit Human Capital story (BHC). BHC was big in the Clinton Administration and lives on in the Gospels of Sperling (a.k.a. Gene Gene, Neo-Liberal Machine). The Clintons attributed the suffering we must endure from free trade to lack of investment in training and education, and they had the courage to actually devote several teaspoons of resources to look like they were fixing that problem.

In an important departure, Krugman says it's about Power. It's not that more education is not always better than less; of course it is, and more public support for education and training should be welcome. But BHC does not strike at the root of the problem, nor its solution. It's about who makes the rules of the game, including the labor market game. We are not living under meritocracy. Merit is substantially compromised by privilege.

Privilege derives from wealth, race, and gender. It biases decisions in college admissions, employment, housing, political appointments, and credit allocation. It reduces economic efficiency and growth because a biased decision entails waste of real resources.

The resulting elite is what PK calls an oligarchy.

More here...with "comments" ...just in case you want a discussion or rebuttal to this statment at:
http://www.tpmcafe.com/node/27239

[unblock]

1. education makes you a useful worker bee

it doesn't make you a rainmaker or an owner.

and that difference is becoming increasingly large.

[salvorhardin]

2. Does anyone have a link to Paul Krugman's full column?

All the columnists are behind the Times Select wall now and I don't have an account. :-(

[salvorhardin]

4. Answering my own question

TruthOut is still republishing some of the columinist. Including Krugman! Yay Truthout!
http://www.truthout.org/docs_2006/022706Z.shtml

[bpilgrim]

3. all we really need to do is read what they were saying in the gilded age

"the only thing NEW in this world is the history YOU don't know:"/i] - Harry S. Truman

thats why i am sooooooo sick of the presumptuous, arrogance & pretentiousness of the '3rd wayers' :eyes:

thanks for sharing :toast:

peace