To whom it may concern......

[Guisslapp]

1......
I never realized that Tech was a privately funded university.
Is this true?
If so, I shall send a donation post haste...... For academics!

Tech is an underfunded public University (at least based on the state's funding formula). The problem (from Tech's perspective - not the state's) is that Tech makes efficient use of the resources it has. Because of this, the state keeps dumping money in the underperforming universities and cutting Tech's budget

Tech is also underfunded in private endowments; however, Tech does have a pretty good alumni contribution rate. I suspect part of the reason for this is that everyone knows that the school will make good use of the money, and most students feel a personal connection with the University and teachers.

[detltu]

My computer shut down on me the first time I tried to post this. Here is the article: http://tech.mit.edu/V130/N13/yost.html

Continues the series here: http://tech.mit.edu/V130/N20/yost.html

[Spinoza]

My computer shut down on me the first time I tried to post this. Here is the article: http://tech.mit.edu/V130/N13/yost.html

Continues the series here: http://tech.mit.edu/V130/N20/yost.html

Throughout my life......
I have done one hell of a lot of research.
And relatively early on in life, I learned that one can find a well written book or article in any decent library to support damn near any theory or seeming "fact" that supports one's subjective preference.
The "trick" is not in finding some pleasing and clever cite to trust and quote......
The "trick" is in trying to understand the personal motivation of each author for stringing together his particular collection of words and sentences and paragraphs...... And toward what end!

Ergo......
When I had finished reading the 2 very interesting hyperlinks proffered above,
I "googled" Keith Yost.
And despite my continued impression that google has more crap than even Horatio could dream of in some library hell...... I am content for now with the following impressions.
Keith Yost appears to be a relatively straightforward fellow with no particular political axes to grind.
And......
He appears to be signally sincere in his efforts to convey his best honest opinions.
And......
Without any doubt, he is definitely a very highly skilled rhetorician.

BTW, Det......
If you should opt to "google" this fellow......
I highly recommend "The Story BCG Offered Me $16,000 Not to TELL"

Cheers.

[Guisslapp]

Throughout my life......
I have done one hell of a lot of research.
And relatively early on in life, I learned that one can find a well written book or article in any decent library to support damn near any theory or seeming "fact" that supports one's subjective preference.
The "trick" is not in finding some pleasing and clever cite to trust and quote......
The "trick" is in trying to understand the personal motivation of each author for stringing together his particular collection of words and sentences and paragraphs...... And toward what end!

This is a very basic economic "theory" that is included in almost every macroeconomic textbook. It is not hard to validate the theory yourself if your draw up some hypothetical trading economies where each economy faces an opportunity cost of producing one product when producing another.

[Spinoza]

Throughout my life......
I have done one hell of a lot of research.
And relatively early on in life, I learned that one can find a well written book or article in any decent library to support damn near any theory or seeming "fact" that supports one's subjective preference.
The "trick" is not in finding some pleasing and clever cite to trust and quote......
The "trick" is in trying to understand the personal motivation of each author for stringing together his particular collection of words and sentences and paragraphs...... And toward what end!

Ergo......
When I had finished reading the 2 very interesting hyperlinks proffered above,
I "googled" Keith Yost.
And despite my continued impression that google has more crap than even Horatio could dream of in some library hell...... I am content for now with the following impressions.
Keith Yost appears to be a relatively straightforward fellow with no particular political axes to grind.
And......
He appears to be signally sincere in his efforts to convey his best honest opinions.
And......
Without any doubt, he is definitely a very highly skilled rhetorician.

BTW, Det......
If you should opt to "google" this fellow......
I highly recommend "The Story BCG Offered Me $16,000 Not to TELL"

Cheers.

However......
While I with no "economics" expertise......
Should bow to Yost and the host of other like "experts"......
I can't!

Perhaps I am merely stupid!
But I simply do not understand how a nation that no longer makes computers......
Or anything else sold at Best Buy......
Or almost everything sold at Walmart......
And no longer dominates the auto industry, or the steel industry, or shoe buckle ornaments (that's from Andy Griffith) or damn near anything else of note......
And does not grow bananas......
(perhaps Yost should have played with corn and soy beans)
SURVIVES (forget about prospers) for very long!

And regarding "long"......
Did you notice that Yost cites (seeming prefers) "by and large" data "from the last 50 years"?
HELLS BELLS......
For most of the last 50 years America DOMINATED damn near every nook and cranny of our tough planet's manufacturing might and industrious industry.
50 years ago......
The Japanese were just beginning to sell their cheap shoddy stuff in America, and "Made in Japan" was synonomous with JUNK.
50 years ago......
Mao began conficating Chinese farm tools to create a Chinese steel industry that resulted in steel products no one would buy, and a famine in China that killed millions.

Anyway......
I hope Yost is spot on RIGHT and I am dead WRONG.
I have no children, and I'll be a dead American long before the next 50 years reveals America's "superpower" not too distant future.

How about you, Det?
How old are you?
Any kids?

Cheers and goodnight.

[detltu]

This is a very basic economic "theory" that is included in almost every macroeconomic textbook. It is not hard to validate the theory yourself if your draw up some hypothetical trading economies where each economy faces an opportunity cost of producing one product when producing another.

It is a basic theory and I'm sure it is valid. However I can't help but think that while it may benefit the country in the long run. Many people in this country are harmed (even if it is temporary), add in the effects of credit and there can be major periods of negative effects before a balance is achieved.

[detltu]

However......
While I with no "economics" expertise......
Should bow to Yost and the host of other like "experts"......
I can't!

Perhaps I am merely stupid!
But I simply do not understand how a nation that no longer makes computers......
Or anything else sold at Best Buy......
Or almost everything sold at Walmart......
And no longer dominates the auto industry, or the steel industry, or shoe buckle ornaments (that's from Andy Griffith) or damn near anything else of note......
And does not grow bananas......
(perhaps Yost should have played with corn and soy beans)
SURVIVES (forget about prospers) for very long!

And regarding "long"......
Did you notice that Yost cites (seeming prefers) "by and large" data "from the last 50 years"?
HELLS BELLS......
For most of the last 50 years America DOMINATED damn near every nook and cranny of our tough planet's manufacturing might and industrious industry.
50 years ago......
The Japanese were just beginning to sell their cheap shoddy stuff in America, and "Made in Japan" was synonomous with JUNK.
50 years ago......
Mao began conficating Chinese farm tools to create a Chinese steel industry that resulted in steel products no one would buy, and a famine in China that killed millions.

Anyway......
I hope Yost is spot on RIGHT and I am dead WRONG.
I have no children, and I'll be a dead American long before the next 50 years reveals America's "superpower" not too distant future.

How about you, Det?
How old are you?
Any kids?

Cheers and goodnight.

I don't know anything about Yost as far as being credible just thought it was an interesting article. I will check out the other article you mentioned.

As far as me I'm 28 and have 1 little boy who is just over a year old. I'm no expert but I do play one on the internet.

[Iceman]

But let's take a peek at your $/day numbers......

$1 x 365 = $365 per year.
Hell...... You could not feed a starving family of dogs with that little coin of the realm in 2010 America.
How about $55 per day in America? That's close enough to $20,000 per year, and close enough to "poverty level" for a family of 4 "common citizens" living in the WEATHIEST nation on our tiny planet.
Assume ZERO federal, state or local TAX...... Not even a penny of sales tax or gas tax, etc. ......
And I dare any conscientious American to wish a "bon appetite" to any such fellow citizen, trying to adequately feed their unaborted progeny!

So that leaves......
$240 per day x 365 = $87,600 "plus benefits".
The benefits better be INCREDIBLE......
Because after the current mountain of federal, state, and local taxes......
All such "common citizens" would have to figure out how to "live in excess" on little more than $50,000 per year......
In the WEATHIEST country on our tiny planet.

to be continued......

Cheers.

If you can't live comfortably on 50K a year bring home, then you need to reevaluate your life. Maybe people should try living within their means. Everyone thinks they need a huge house, new cars, etc, etc.

[brtransplant]

If you can't live comfortably on 50K a year bring home, then you need to reevaluate your life. Maybe people should try living within their means. Everyone thinks they need a huge house, new cars, etc, etc.

It all depends on one's definition of comfortable. A motivated capitalist will figure out a way to increase revenue. Perhaps he'll get a second job, as have many others. This will enable him to afford some of the "luxuries" that the evil rich enjoy. Either that, or he'll sit on his duff and bitch and moan about the stuff the guy, who IS working two jobs, has. He'll call it unfair and register as a Democrat.

[FishingBack]

If you don't like Chinese labor then don't buy Chinese goods and educate others on your belief system.

[Spinoza]

This is a very basic economic "theory" that is included in almost every macroeconomic textbook. It is not hard to validate the theory yourself if your draw up some hypothetical trading economies where each economy faces an opportunity cost of producing one product when producing another.

As we both know, Gus......

1......
If Tech received a mere $1.00 contribution for every error ever printed in any "textbook"...... Tech could make MIT and Harvard combined look like a ghetto grammer school.

2......
Not all that long ago, it was not hard to validate from seemingly solid hypotheticals that the Earth was flat...... Or that manifest destiny best served its seeming victims well-being.

3......
As a clever fellow once remarked, "the only reason we have economists, is to make astrologers seem smart". :icon_wink:

However, Gus......
I live to learn.
And if YOU are able to "draw up some hypothetical trading economies" where a once RICH nation, NOW DEEPLY IN DEBT, that no longer makes damn near anything, PROSPERS......
Or even survives for long......
By buying most of its STUFF from former POOR nations......
I promise you my full attention.

And please believe me, Gus......
I'm not trying to pull your chain on this one.
I would truly enjoy learning how BUY WHAT IS NOT MADE IN AMERICA is somehow in America's best present and FUTURE interests!

Your turn......

Cheers.

[Spinoza]

If you don't like Chinese labor then don't buy Chinese goods and educate others on your belief system.

I have absolutely nothing against any Chinese workers......
Or mexican workers, or workers from any other nation on our tiny planet who are honestly trying to improve their lot in life, and create a better future for themselves and their children. And actually, I would think badly of them if they did not try to do so.

But I happen to have been placed by fate to live my brief life between our shining seas, and even though I may be dumb as a rock when it comes to any economic wisdom......
IT SEEMS GOOD and FEELS GOOD to me whenever I buy STUFF that has been MADE IN AMERICA.

As for any significant effort to "educate others"......
I am no missionary who believes HIS RIGHT is RIGHT for EVERYONE because it is RIGHT enough for him!
I am content to FREE SPEECH my NHO......
And TOLERATE any good or bad or ugly that others may prefer.

BTW, Fish......
Have you enjoyed this thread's give and take as much as I have?
Thanks to you and the other dawgs who have risen to the occasion here, my little grey cell cup runneth over.
I wish that every dawg thread could achieve something akin to the caliber of decent debate and gentlemanly dignity that has flourished here.
I suspect that Fred would be proud of our collective efforts.

Cheers and goodnight.

[Guisslapp]

As we both know, Gus......

1......
If Tech received a mere $1.00 contribution for every error ever printed in any "textbook"...... Tech could make MIT and Harvard combined look like a ghetto grammer school.

2......
Not all that long ago, it was not hard to validate from seemingly solid hypotheticals that the Earth was flat...... Or that manifest destiny best served its seeming victims well-being.

3......
As a clever fellow once remarked, "the only reason we have economists, is to make astrologers seem smart". :icon_wink:

However, Gus......
I live to learn.
And if YOU are able to "draw up some hypothetical trading economies" where a once RICH nation, NOW DEEPLY IN DEBT, that no longer makes damn near anything, PROSPERS......
Or even survives for long......
By buying most of its STUFF from former POOR nations......
I promise you my full attention.

And please believe me, Gus......
I'm not trying to pull your chain on this one.
I would truly enjoy learning how BUY WHAT IS NOT MADE IN AMERICA is somehow in America's best present and FUTURE interests!

Your turn......

Cheers.

We do not lose because we are trading with countries who make products more cheaply. We lose because we are not producing enough good products. It is a problem with production, not consumption. Although the average American also tends to have a problem with overconsumption.

[Lone Star Dawg]

2......
Not all that long ago, it was not hard to validate from seemingly solid hypotheticals that the Earth was flat...... Or that manifest destiny best served its seeming victims well-being.


Cheers.

Not to jump into the discussion that you all have been jousting back and forth so skillfully on, but I have to point out that there is no proof that at any point in recordable history did anyone actually think the Earth was flat. As a teacher it kills me that other teachers still purvey this Washington Irving myth and people grow up without ever realizing they've been had by a man that died a century and a half ago.

[FishingBack]

I have absolutely nothing against any Chinese workers......
Or mexican workers, or workers from any other nation on our tiny planet who are honestly trying to improve their lot in life, and create a better future for themselves and their children. And actually, I would think badly of them if they did not try to do so.

But I happen to have been placed by fate to live my brief life between our shining seas, and even though I may be dumb as a rock when it comes to any economic wisdom......
IT SEEMS GOOD and FEELS GOOD to me whenever I buy STUFF that has been MADE IN AMERICA.

As for any significant effort to "educate others"......
I am no missionary who believes HIS RIGHT is RIGHT for EVERYONE because it is RIGHT enough for him!
I am content to FREE SPEECH my NHO......
And TOLERATE any good or bad or ugly that others may prefer.

BTW, Fish......
Have you enjoyed this thread's give and take as much as I have?
Thanks to you and the other dawgs who have risen to the occasion here, my little grey cell cup runneth over.
I wish that every dawg thread could achieve something akin to the caliber of decent debate and gentlemanly dignity that has flourished here.
I suspect that Fred would be proud of our collective efforts.

Cheers and goodnight.

I have enjoyed this thread too. It does feel good to buy stuff made in the USA but it's often hard to find.

As for your question about a rich nation surviving the debt and loss of production.....I fear we are doomed. What makes one large country wealthier than the next? Economics is sort of like the flow of water. The money runs downhill due to supply/demand. If we are rich and China is poor, they will get our money because they'll work harder and more desperately for it.

If only nations were as thrifty as the individual businessmen, but alas, that is impossible due to the nature of man.

In short - it is my humble opinion that we are screwed in the long-term in a strange correlation to the Roman Empire.