Wednesday, June 8, 2011

Where not to spend your college dollars

I want us all to take a pause for a moment from Weinergate (pause but don’t forget) and focus for a minute on where not to send our children for higher education.  Many of you may be making a decision now on where to send tens of thousands of your dollars to educate your children. 

I checked this out after seeing a piece in today’s The Washington Times “Obama loses his team as the economy loses steam.”  Let’s examine the education of President Obama’s economics advisors who helped the Prez maneuver the ship of state over the last two years right onto the rocks of economic disaster:

Austan Goolsbee - Yale (BS Economics) and Massachusetts Institute of Technology (PHD Economics)

Christina (Duckworth) Romer – College of William and Mary (BS Economics) and Massachusetts Institute of Technology (PHD Economics)

Lawrence Summers – a former President of Harvard University, entered the Massachusetts Institute of Technology at the age of 16 where he received a BS in Economics and a PHD in Economics from Harvard. 

Peter Orszag – AB in economics from Princeton University and a Masters and PHD in Economics from the London School of Economics. 

What can we learn from this list?  Well first of all if you send your child to the Massachusetts Institute of Technology (MIT) and expect them to learn anything about economics – you are a lunatic.  I’ll bet you that if you put Goolsbee, Romer, and Summers together around your kitchen table they couldn’t balance your checkbook.

Orszag appears to be the odd man out – though over-educated like the others he didn’t spend time at MIT.  However the two people mentioned as his mentors Alan Blinder and Joseph Stiglitz were both alumnus of - you guessed it - MIT.  Blinder received his PHD from MIT while Stiglitz was an undergrad there. 

The circle is unbroken – don’t send your kid to MIT for economics they will make him/her stupid.   

How about Joe Biden’s pick for an economic advisor?  It was Jared Bernstein who received a Bachelors Degree in Fine Arts (double bass) from the Manhattan School of Music, a Masters Degree in Social Work from the Hunter School of Social Work, and a Masters and PHD from Columbia University in Social Welfare.  Leave it to Joe.  Looking for an adviser on economics and he picks a guy who went to school to study an overgrown violin and socialism.  Any wonder that we are in trouble?

The Politically Incorrect Guide to Socialism (Politically Incorrect Guides) 


  1. Good advice. Anyone that I ever met that was attending MIT or graduated from there was a druggie or a mental basketcase, or both. I wonder if it's the water up there.

    The problem with this administration is the fact that there are way too many academics trying to fix things all the while they are just screwing it up worse since everything to them is theoretical.

    Experience is what is lacking and zero still hasn't figured it out after 30 months.

  2. I bet Biden's guy is at least as good as Obama's gang. The economics I have studied, (I'm working on my Doctorate right now), all came from The School Of Hardknocks. I am completely baffled by all the weenies mentioned above, and agree, none could balance a checkbook or manage a payroll. What a pack of turds. I'm all for saving the tens of thousands of dollars of college tuition and just sending the kids to work.