The big flaw Konczal identifies here is that differences in university programs “are a determinant of future income, but they are only a minor one. Family income, occupation, race, and gender are going to be much more important to the calculation.” As evidence, Konczal points to a finding from the Pew Charitable Trust’s Economic Mobility Project (see accompanying graphic, via Matt Breunig). It shows, among other things, that “those born in the top 20 percent who don’t have a college degree are two and a half times more likely to end up in the top 20 percent than people born in the bottom 20 percent who do have a college degree.” In other words, “a white male born rich who attends a bad school will get significantly better equity pricing than a woman of color born poor who attends a better school, because the former will have a higher expected future income.” The rich will get richer.

Read full article [here].
by Michael Hiltzik, The Los Angeles Times.

Posted: September 4th, 2015, by: admin. Categories: . Awaiting Comments.