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The Changing World Of Work 4: The "Signal" Value Of Credentials Is Eroding

Tyler Durden's picture




 

Submitted by Charles Hugh-Smith of OfTwoMinds blog, (Part 1, Part 2, and Part 3 here)

An entire new feedback loop of accreditation is needed, and fortunately that feedback is within our control: it's a process I call accredit yourself.

Economist Michael Spence developed the job market signaling model of valuing employees based on their credentials in the 1970s. The basic idea is that signaling overcomes the inherent asymmetry of information between employer and potential employee, i.e. what skills the employer needs and what skills the employee actually has is a mystery to the other party.
 

Credentials (diplomas, certificates, grad point averages, test scores, etc.) send a signal that transfers information to the employer about the opportunity cost the potential employee sacrificed for the credential.

It is important to note that the credential doesn't necessarily signal the employee's actual skills or knowledge-- it only signals the amount of human and financial capital the employee and his family invested in obtaining the credential.
 
Signaling boils down to something like this: if Potential Employee A graduated from a prestigious Ivy League university, and Potential Employee B graduated from a lower-ranked state university, this doesn't signal that Candidate A is necessarily more intelligent than Candidate B; it does signal, however, that Candidate A probably worked harder to get into and graduate from the prestigious school.
 
The signal is: Candidate A will work harder for the employer than Candidate B, all other qualifications being equal.
 
The Signal Value of credentials is the entire foundation of higher education. The higher education system does not actually test or credential the body of knowledge or working skills of graduates; it simply accredits that the graduate sat through a semi-random selection of courses and managed to pass the minimal standards--or alternatively, that the graduate gamed/cheated the system to gain credit without actually doing any real learning.
 
The reason tens of thousands of parents are sweating blood to get their child into an Ivy League university is the signaling power of that degree is widely viewed as having the near-magical ability to guarantee lifelong highly compensated employment.
 
But the power of higher education credentials is eroding for systemic reasons.
 
1. Credentials of all sorts are in over-supply: there are more people holding credentials than there are jobs that require those credentials.
 
2. Higher education does not prepare graduates for the real world of work in the emerging economy, so the signaling value of a diploma has been lost.
 
3. The opportunity cost paid by those graduating from college is now more noise than signal.
 
4. The intrinsically ambiguous signal value of a credential cannot be substituted for real-world accreditation of real skills and working knowledge.
 
In essence, the failure of signaling to accredit actual skills and knowledge bases is being acknowledged by employers. This accreditation is precisely what diplomas fail to do. Specialty programs (nursing, medicine) accredit the skills and knowledge of the graduates, but this is not true of the vast majority of diplomas and credentials.
 
The job-market value of a college degree was relatively high in the 1970s when Spence developed the Signal Model because the number of workers with college diplomas was still relatively modest (around 15% of the workforce). The most basic function of the market--supply and demand--worked in favor of what was relatively scarce--a college diploma. As a result, the assumption that the applicant had worked hard to obtain the degree was more signal than noise.
 
Nowadays, conventional credentials such as college degrees are in over-supply:around 40% of the work force has a college diploma of some sort, and an increasing number of college graduates are taking jobs that do not require a college education.
 
This is reflected in the declining wages of college graduates: Even the Most Educated Workers Have Declining Wages.
 
While the cost of higher education has skyrocketed (tuition is up 1,100% since 1980), the educational yield of higher education has declined. The national studyAcademically Adrift: Limited Learning on College Campuses, found that over one third of college students "did not demonstrate any significant improvements in learning critical thinking and other skills central to success in the new economy" and concluded that"American higher education is characterized by limited or no learning for a large proportion of students.".
 
From this dismal record, we can extrapolate that another third gained marginal utility from their investment of tens of thousands of dollars and four years of study.
 
 
Google is widely viewed as a bellwether of the new economy. It is noteworthy, then,that Google has found that academic success has little correlation with being productive in the workplace. Lazlo Bock, Senior Vice President of People Operations at Google, made the following comments in an interview published by the New York Times in June 2013:
 

One of the things we've seen from all our data crunching is that G.P.A.s (grade point averages) are worthless as a criteria for hiring, and test scores are worthless. Google famously used to ask everyone for a transcript and G.P.A.s and test scores, but we don't anymore. We found that they don't predict anything. What's interesting is the proportion of people without any college education at Google has increased over time as well. So we have teams where you have 14 percent of the team made up of people who've never gone to college.

 
Signaling an ability to grind though four or five years of institutional coursework is no longer enough; the signaling needed to indicate an ability to create value must be much richer in information density and more persuasive than a factory model diploma.
A resume is equally thin on information that accredits a worker's knowledge, skills and professionalism. A resume is a public-relations summary that everyone knows has been tailored to present the candidate in the best possible light. And precisely how useful and trustworthy is PR in any setting?
 
Put yourself in the shoes of a hiring manager or potential collaborator: there is precious little useful information in either a diploma or a resume. As a result, human resources departments have been tuned to eliminate as many candidates as possible by signal-based winnowing rather than by the collection of useful information on the skills, knowledge and professionalism of the potential employee/collaborator.
 
Conforming to social behavioral norms and being able to grind through mind-numbing work used to be enough to create value in the economy--but this is no longer the case for high-value (i.e. well-paid) work. The "signaling" camp holds that a degree showing the student sat through four or five years of classes is sufficient to justify hiring the person. That the student learned essentially nothing useful doesn't matter; the entire value of college is in the last class needed to get the diploma.
 
This was true in the long postwar boom when the number of well-paid jobs expanded at a faster rate than the number of college graduates. This is simply no longer true.
 
In contrast to the "signaling" theory of value, the "human capital" camp holds that working knowledge is what creates value. If the student learns little critical thinking, real skills or practical knowledge, then a college degree has little value.
 
Conformity and being able to navigate stifling bureaucracies no longer creates value or helps employers solve real-world problems. This is why college graduates can send out hundreds of resumes and not even receive a single reply, much less an interview or job offer.
 
Systems analysis teaches us that changing the parameters of a system (for example, adding another line to your resume or getting another degree) does not change the system; only adding a new feedback loop can change the system.
 
Clearly, an entire new feedback loop of accreditation is needed, and fortunately that feedback is within our control: it's a process I call accredit yourself. The most powerful feature of accredit yourself is the process is open to anyone: recent college graduates, those without degrees, those re-entering the workforce, those seeking to launch their own enterprises--everyone who wants an income stream in the emerging economy.
 
I outline the process of accrediting yourself in my book Get a Job, Build a Real Career and Defy a Bewildering Economy. The fundamental concept is straightforward: don't rely on signaling--prove your skills and knowledge with real-world examples and accounts from respected people in your field. Don't rely on fluff PR--demonstrate your skills and knowledge in a verifiable fashion.
 

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Thu, 04/16/2015 - 09:58 | 5998480 q99x2
q99x2's picture

Take out student loans and buy bitcoin. Retire in two years or less.

Thu, 04/16/2015 - 10:04 | 5998512 Divine Wind
Divine Wind's picture

 

 

 

The premise of the article is spot on, at least in the case of the New America.

Some of the most worthless carbon-based life forms on this planet are graduates from Ivy League institutions.

It is no wonder that most U.S. tech companies are screaming for more H1B visas.

The skill sets necessary to remain competitive in the global marketplace are just not being instilled into these kids.

Most of the good talent is now coming from abroad.

 

Thu, 04/16/2015 - 10:08 | 5998527 GetZeeGold
GetZeeGold's picture

 

 

 

I believe you'll find my collection of participation trophies.....to be quite impressive.

Thu, 04/16/2015 - 10:10 | 5998537 RU-GAY2
RU-GAY2's picture

If your potential employee wasted $100,000 to become a barista?  Well that should be a "signal" about how bright they are....

Thu, 04/16/2015 - 10:29 | 5998618 nuubee
nuubee's picture
Signaling boils down to something like this: if Potential Employee A graduated from a prestigious Ivy League university, and Potential Employee B graduated from a lower-ranked state university, this doesn't signal that Candidate A is necessarily more intelligent than Candidate B; it does signal, however, that Candidate A probably worked harder to get into and graduate from the prestigious school. The signal is: Candidate A will work harder for the employer than Candidate B, all other qualifications being equal.


Ah, that ^^ isn't even true. More expensive schools are often much more likely to use grade inflation, particularly in undergraduate courses. The smaller, less expensive schools are much more likely to flunk you out of their college, because there's always another person willing to pay their cheap prices.
Thu, 04/16/2015 - 10:57 | 5998733 Stuck on Zero
Stuck on Zero's picture

At our company we are finding that prestigious degrees and high GPAs are more a sign of political astuteness than technical ability.  A quick interview reveals that most 4.0 GPAs from good institutions come equipped with absolutely no skills other than political skills.  If you look at college admissions it is clear that being female or minority is far more important than intelligence or the capacity to work. 

Thu, 04/16/2015 - 11:58 | 5998963 Sanity Bear
Sanity Bear's picture

Signal value of a degree held by a 20-something, where the degree does not represent career-specific job training: candidate goes through the motions without understanding fundamentals, and is bad at math.

Thu, 04/16/2015 - 12:41 | 5999179 Canoe Driver
Canoe Driver's picture

CHS makes some valid points here, but ultimately self-accreditation will also fail. Here's why: the value of universities today consists largely in branding. The school builds a brand and the student arrogates that brand to his own account. The value of a brand comes from the fact that it is not co-extensive with the consumer. Put another way, you are not great until someone ELSE says you're great.

Thu, 04/16/2015 - 11:38 | 5998893 Dollarmedes
Dollarmedes's picture

Weird. I can't upvote or downvote your comment. (upvote)

Thu, 04/16/2015 - 13:15 | 5999323 island
island's picture

Likewise.  Voting is not currently working - at least in FFox.

Fri, 04/17/2015 - 18:06 | 6004611 Abbie Normal
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To vote on any comment that begins witn a quote, click to the right of the user name, then tab twice for UP or three times for DOWN vote, then press ENTER.

Thu, 04/16/2015 - 14:09 | 5999590 Jack Burton
Jack Burton's picture

I've heard stories of Ivy league schools where many classes return a 100% A grade for the student body. In reality, I think you are totally right, grade inflation at the top universities is off the charts. In many cases, families and students expect an A grade for all the money they have shelled out. In an aveage class, most every grade is an A  and B is looked down upon. A C grade is considered utter failure!

I had a good teacher once who said the C was a great grade, he expected most people to get C's in his classes. If you master all the material to perfection you get a B, for him, an A meant exceptional, meaning Above and Beyond, a step above mastery. Orignial thought and an original contribution to the subject.

This kind of thinking is dead and gone. Grade inflation wiped away the C grade.

Thu, 04/16/2015 - 10:30 | 5998626 Whoa Dammit
Whoa Dammit's picture

Credentials don't matter because companies are not interested in having long term employees. In today's job market companies only need  useful idiots that they can milk for a couple of years before moving on to the next one. If they kept employees around, the employees might actually expect a raise in their salaries, and the megacorps won't put up with that sort of attitude.

Thu, 04/16/2015 - 15:23 | 5999944 daveO
daveO's picture

More fiat fallout. Impressing Wall Street means more than long term competitiveness. 

Fri, 04/17/2015 - 10:07 | 6002769 Boubou
Boubou's picture

Check out 'The Killing of Mr Watson' True story of a perfect capitalist down at Flamingo, Florida.

Once the sugar harvest was in. instead of paying the workers off and taking them back to Tampa, he killed them and buried them on the beach around cape Sable. This highly efficient scheme lasted for years.

Eventually his neighbors ganged up and killed him, but because he was an obnoxious and dangerous asshole.

Thu, 04/16/2015 - 10:32 | 5998640 max2205
max2205's picture

From my experience don't hire anyone from a rich or powerful family if you want any work done.

 

Lots of wining and handholding required

 

Thu, 04/16/2015 - 14:02 | 5999565 Jack Burton
Jack Burton's picture

"$100,000 to become a barista"

Ha! Ha! Very good point! I love coffee, I love sitting at a good coffee bar and relaxing and people watching. In Europe this is an art form, and I make sure when there to go everyday to a good coffee bar. Here in the USA, too many are Starbucks and indoors, which cuts down on people watching.

Anyways, I love Baristas. Most are young, good looking and seem really bright and very trendy. It is obvious, even in Europe, that the Barista who makes your coffee feels a sort of inner pride in being highly educated and can't really see how pathetic it is to have all these degrees and be making fucking coffee every day.

I think the bight trendy Baristas believe that their jobs are just stepping stones to their careers in the Arts or their College Faculty appointments, Corporate Manger positions, etc. etc. It just hasn't set in yet that the reason they are making coffee is that the market decided that is what they are good for.

But I still ove them. Especially those bright spark European girls who Barista. Swedish ones are a special treat! Just love how they make coffee and brighten up a man's day!

Thu, 04/16/2015 - 15:26 | 5999954 daveO
daveO's picture

I predict more hookers in the near future.

Thu, 04/16/2015 - 17:11 | 6000331 Sokhmate
Sokhmate's picture

A better chance of being highly educated..
A beeter chance of an intellectual connection on top of the basal one (reduces post coital awkwardness)

Thu, 04/16/2015 - 11:56 | 5998951 LooseLee
LooseLee's picture

Quite right. The Ivy-Leaguers stick close to the nest and ride off of the 'privileges' gained through gaming the system. They make good politicians and Wall St. bankers but, aside from that, are pretty much valueless as human 'beings'. Most have not done an honest day's work in their lives. Do note there is an exception to every rule and I am generalizing here, but those of priviledged backgrounds often do not have the basic instincts that most other 'social groups' do IMO.

 

Thu, 04/16/2015 - 15:28 | 5999964 daveO
daveO's picture

How does the political/corporate executive class survive? On the the top of the fiat flood created over the decades. They've worked hard at staying on top of the surfboard riding that wave. 

Thu, 04/16/2015 - 13:00 | 5999262 inhibi
inhibi's picture

Talent coming from abroad? What are you smoking? 

 

H1B1 is just so they can justify PAYING people less!!! Seriously, ZH is getting ridiculous. One article states how everything at these mega-corps is about money money money, and now it apparently about talent...talent in what exactly? Your telling me that some foreign students are better than US students in finance? Finance is a bunch of BS anyways. As an engineer, I just have to laugh when someone in finance tries to justify working long hours because of some 'super complex' excel spreadsheet...then I show them some REAL math, you know, like complex high order matrix theory that takes into account thousands of variables to, lets say, find the equilibrium of a solution with thousands of species.

Doesnt mean that engineers can find jobs that much easier. The world doesnt run on talent. It runs on money sadly, and any engineer worth his salt is mathematically smarter than any applied math/finance major. The US isnt looking for talent: we have tons of it. They are looking for new ways to game the financial system, aka ACCRUE MORE MONEY. And how do you do that? Well you start by paying your underlings less and less and less.

Thu, 04/16/2015 - 13:12 | 5999307 island
island's picture

"The US isnt looking for talent: we have tons of it. They are looking for new ways to game the financial system, aka ACCRUE MORE MONEY. And how do you do that? Well you start by paying your underlings less and less and less."

Spot on.

Aside: I was once told directly by the CEO of a large insurance company that their aim was to hire "average" employees so they can pay them less.

 

Fri, 04/17/2015 - 05:25 | 6002150 pitz
pitz's picture

Your "Aside" is so true.  Same disease of mediocrity has infected so many industries, and so much top talent is on the sidelines, not even able to get an interview because of this nonsense. 

Thu, 04/16/2015 - 21:30 | 6001359 turnoffthewater
turnoffthewater's picture

BINGO! from an engineer. There will be a financial waste land coming to a town near you and never met a worthwhile financial ANALyst.

It's a club and we weren't invited. RIP George

Fri, 04/17/2015 - 05:19 | 6002145 pitz
pitz's picture

 Not true at all.  The firms are demanding H-1Bs because they work cheaper, and don't ask for raises or time off with their families.  They're overwhelmingly single young men.  Meanwhile the same firms that use extensive numbers of H-1B's are often in receipt of thousands of job applications from qualified US citizens for the jobs, but merely ignore them. 

Some firms even go so far as to manipulate their requirements to justify H-1B's.  As exemplified by this video of traitors:

https://www.youtube.com/watch?v=TCbFEgFajGU

 

Thu, 04/16/2015 - 10:07 | 5998523 junction
junction's picture

Gold Hat: Badges? We ain't got no badges. We don't need no badges. I don't have to show you any stinking badges.

Badges, Bachelor of Arts degrees, Masters. . .what difference does it make when many of the jobs for college graduates are off-shored and companies like Tata Consultancy game the system in the USA so H-1B jobs by the thousand go to Indian nationals who displace American workers, those whose jobs weren't already shipped overseas.  Say it ain't so, Obummer!

Thu, 04/16/2015 - 17:30 | 6000406 Sokhmate
Sokhmate's picture

Anecdonte: I review candidates' resumes passed down to me by management, for an IT position. 9 out of 10 are H1Bs. Multiple bullet points read verbatim across majority of resumes, and in some cases multiple bullets points in the same order. Makes me chuckle.

Fri, 04/17/2015 - 05:28 | 6002154 pitz
pitz's picture

I bet management has already applied a filter to the resume flow you see based on cost, or the perception of cost.  Or at least that's how it seems to work with the organizations I'm familiar with. 

Thu, 04/16/2015 - 10:12 | 5998543 RU-GAY2
RU-GAY2's picture

Take out student loans and buy bitcoin. Retire in two years or less.

Yes, take it from the we... buh Bitcoin, drop out and get rich (in no particular order).

 

https://btc-e.com

 

Thu, 04/16/2015 - 09:56 | 5998482 MEAN BUSINESS
MEAN BUSINESS's picture

Hard to verify when our comments keep disappearing ; )

Thu, 04/16/2015 - 10:36 | 5998533 GetZeeGold
GetZeeGold's picture

 

 

 

Shoot and move......move and shoot.

https://www.youtube.com/watch?v=_AoCK5r2TWg

Thu, 04/16/2015 - 11:29 | 5998864 Cheduba
Cheduba's picture

I had this idea a year or two ago and I would just love for this to get out there to break through the automated resume wall you face as a job seeker.  Right now, electronic resumes are filtered out automatically and you have no chance to ever interact with an employer.

Since most communication is nonverbal, a video resume would be the most efficient way to demonstrate your skills and explain how your previous work has created value for those companies.  If you had a database where each person is tagged with each category of skill they have, say they are looking for work within x miles of a zip code, then employers could search their zip code and immediately find the top ranked people looking for work in their area and see a job seeker's skills for themselves before even a phone interview.

Shameless plug - I contracted a website designer to make this idea come into reality as a prototype for a new way of connecting employers and people looking for jobs: "Put Me To Use" www.putmetouse.com

Everyone please steal this idea, improve on it, anything to bring down the obviously broken job market where 100 million people are in need of work, but can't find a way to get through to employers.

Thu, 04/16/2015 - 09:58 | 5998483 Mercury
Mercury's picture

The job-market value of a college degree was relatively high in the 1970s when Spence developed the Signal Model because the number of workers with college diplomas was still relatively modest (around 15% of the workforce).

 

Much more importantly, he bar to earn a college degree was still set pretty high in the early 1970s.

The percentage of Americans who now earn college degrees has since skyrocketed in large part because that bar has been lowered and now *surprise* a "college degree" is generally less impressive than it used to be.

What happened when they lowered the bar for home mortgage qualification in an effort to expand home ownership?

Thu, 04/16/2015 - 10:22 | 5998597 duo
duo's picture

+1.  The recent engineering graduates I've interviewed don't even know 70's era high school physics.

Thu, 04/16/2015 - 10:56 | 5998724 DCFusor
DCFusor's picture

Logged in just to +1 this.  Actually it's worse - most current grads not only wouldn't have graduated my high school, they lack something else no one else here is talking about - motivation.  Doesn't matter how skilled you are if you expect to be paid for "effort" or for that matter, sitting on your ass looking for bennies in the form of paychecks and perks without producing any actually valuable results for the employer.  I could mention loyalty is a two-way street and both sides of that street are currently a mostly-fail as well.  It's not just skills, though they are a part of it - anyone who wants to can learn.  But you have to have the want-to.  Then you require the want-to to apply those skills in a way that produces more than you cost an employer.

I've been on both sides of that street, ending up as a CEO, now retired...Our consulting customers were loyal to us, in part because we produced what we claimed, and were loyal to them first.  That's gone now as far as I can tell, or quite rare.  It's all going down in apathy, not even a whimper or a bang.

 

Debugas below has it right as well.

Thu, 04/16/2015 - 11:07 | 5998761 gobsmack
gobsmack's picture

I don't understand at all how this could be.  My son is halfway through a mechanical/aerospace engineering dual major with minor in electrical and knows physics cold.  Of course he's at a state university rather than an Ivy so maybe that's the difference. 

Fri, 04/17/2015 - 05:30 | 6002158 pitz
pitz's picture

Sounds like your HR department is filtering out the smart ones, either directly or systemically (ie: by quoting very low starting compensation!).  Try getting to the root of that problem before complaining about the quality of engineering graduates. 

Thu, 04/16/2015 - 10:23 | 5998605 Shad_ow
Shad_ow's picture

Your comment is racist. /sarc

 

Thu, 04/16/2015 - 09:58 | 5998488 Debugas
Debugas's picture

i stopped reading after this sentence:

It is important to note that the credential doesn't necessarily signal the employee's actual skills or knowledge-- it only signals the amount of human and financial capital the employee and his family invested in obtaining the credential.

Employer does not and should not care how much did it cost for the employee to get the skills.

Skills value is determined by the ability to produce the result and to sell it.

You may have very sophisticated skillset which took half of your life to acquire but it may turnout to be completely useless to the society

Thu, 04/16/2015 - 09:59 | 5998492 lordbyroniv
lordbyroniv's picture

We are ALL malinvestment.  

 

Sigh.

Thu, 04/16/2015 - 15:34 | 5999988 daveO
daveO's picture

Cheapened to the point of near worthlessness on a pile fiat garbage.

Thu, 04/16/2015 - 10:01 | 5998499 WTFUD
WTFUD's picture

Chances are that if he/she went to Harvard their parents have enjoyed a long suck on the Government's ( tax-payer's ) teat.

Thu, 04/16/2015 - 10:02 | 5998500 Two Theives and...
Two Theives and a Liar's picture

Internships kids!....the company I work for winds up hiring them . Go to community college (aka disco with books) to get in the door internship-wise....then do well!

Thu, 04/16/2015 - 10:05 | 5998516 Bastiat
Bastiat's picture

Peter Kiewit, the large industrial building contactor was 20 years ahead on this.  Their policy was to throw Ivy League applications in the trash.  They liked the work ethic of state college engineers--same education without the attitude. 

 

 

 

Thu, 04/16/2015 - 10:21 | 5998590 codecode
codecode's picture

It was said to me one time that the purpose for going to an Ivy League was to make connections... sounds like inbreeding?

Thu, 04/16/2015 - 10:25 | 5998608 Dickweed Wang
Dickweed Wang's picture

It was said to me one time that the purpose for going to an Ivy League was to make connections... sounds like inbreeding?

You don't see organizations like "Skull and Bones" and their ilk springing up at State Colleges and Universities so what else do you need to say about the "Ivy League".

Thu, 04/16/2015 - 10:41 | 5998674 U-P-G-R-A-Y-E-D-D
U-P-G-R-A-Y-E-D-D's picture

what else do you need to say about the "Ivy League"

Jews. 

Thu, 04/16/2015 - 12:53 | 5999230 U-P-G-R-A-Y-E-D-D
U-P-G-R-A-Y-E-D-D's picture

Keep junking me guys, I'm sure it will get you a promotion.  Nevermind that I know a little something about both of the proper nouns in this comment.  

Thu, 04/16/2015 - 15:37 | 5999999 daveO
daveO's picture

'Ruling class' means the same thing, IMO. 

Thu, 04/16/2015 - 11:14 | 5998786 csmith
csmith's picture

Fortune 500 surveys consistently rank state university grads equal to (if not ahead of) Ivy League on employee performance. Less entitlement mentaility, cheaper, better able to work within a large system, etc. PSU is always right near the top, for example.

Thu, 04/16/2015 - 12:01 | 5998974 Lostinfortwalton
Lostinfortwalton's picture

Better education actually. Of the top ten engineering schools, six are state schools. only two are Ivy and they are at the bottom of the list. "Ivy League" is rapidly becoming a synonym for "Stupid Rich".

Thu, 04/16/2015 - 10:06 | 5998517 Kilgore Trout
Kilgore Trout's picture

Potential employee A sucked ass throughout high school and called upon parental infuence to extort the teachers into giving the grades he'd need to get into the Ivy league school.

Potential employee B worked summers in factories and road crews to earn his way through State College.

I've got your fucking signal hangin right here, Ivy boy.

 

 

Thu, 04/16/2015 - 10:23 | 5998598 Dickweed Wang
Dickweed Wang's picture

I've got your fucking signal hangin right here, Ivy boy.

Perfect!

Thu, 04/16/2015 - 10:06 | 5998518 DullKnife
DullKnife's picture

And add Obama's plan for a "everyone's a winner" free, universal college....that will really make a diploma more valuable.

But basically the author is saying that the USSA is becoming India....many college grads but few jobs.

 

Thu, 04/16/2015 - 10:07 | 5998525 youngman
youngman's picture

They just had a higher up from the IMF on CNBC..he said they have over 2000 employees with doctorates and masters degrees....he was saying they were smarter than us....and that is why they are so good....lol.....talk about put yourself on a pedestal..I guess we are the pidgeons

Thu, 04/16/2015 - 11:51 | 5998938 petroglyph
petroglyph's picture

I wish the interviewer had asked " how do you think that will work out for the rest of us".

Thu, 04/16/2015 - 15:40 | 6000015 daveO
daveO's picture

I bet CNBS didn't ask how many of those degrees were purchased with honest money, let alone, working their way thru school.

Thu, 04/16/2015 - 10:09 | 5998529 SheepDog-One
SheepDog-One's picture

It's all good, Golden Slacks is raking it in hand over fist, things have never been better on the bankster pirate ship and that's all that matters bottom line.

Thu, 04/16/2015 - 10:25 | 5998610 duo
duo's picture

I make $36K a month using my computer to front-run trades, bilk money from pension plans, and sell worthless debt instruments to state and local governments.  You too can do this if your parents can get you into Yale, and you kiss enough ass there to get into GS. 

</sarc>

Thu, 04/16/2015 - 10:09 | 5998532 nakki
nakki's picture

In my experience its not what, but who you know (who you blow). Same as it ever was. College is about knowing the right people and networking, the majority of the time. All else is pretty much bullshit.

Thu, 04/16/2015 - 10:19 | 5998580 Dickweed Wang
Dickweed Wang's picture

In my experience its not what, but who you know . . .

Exactly, always has been and always will be . . . . .

Thu, 04/16/2015 - 10:21 | 5998589 Fun Facts
Fun Facts's picture

The sky is the limit when you're part of the awesome zio team.

Goyim cattle go fill out your Wal Mart application.

Thu, 04/16/2015 - 10:39 | 5998667 U-P-G-R-A-Y-E-D-D
U-P-G-R-A-Y-E-D-D's picture

At my Ivy Law (speaking of bullshit signaling), I tried to give a talk about Zio war crimes that I had experienced first-hand; that is, with my own eyes and documented by video.  The Dean of Students (also the advisor to the Jewish Law Students, which is a redundancy) called me into their office and told me it wasn't happening.  I didn't agree and negotiated conditions.  The school reneged on their agreement and physically locked me out of the building and room I had reserved.  So much for academic freedom of thought in America.  I had to move to Israel in order to have discussions on these topics, as they are not allowed among the goy victims of the US for fear of the shande it would create.  

Of course, most of America chooses to blame themselves instead of their captors - after all the narrative is already pre-prepared for you in the media and if you question it, good luck convincing the gatekeepers ever again that you're a good slave.  

Thu, 04/16/2015 - 11:19 | 5998810 csmith
csmith's picture

Not necessarily. Within a large, properly functioning bureaucracy (one with a profit motive), a super productive individual can work his/her way well up the ladder without connections. At some higher level this will fail for someone with zero political saavy, but being a "company" man/woman can carry you a long way.

Thu, 04/16/2015 - 12:02 | 5998993 LooseLee
LooseLee's picture

Being a 'company man' implies conformity and lack of creative thinking. I've seen it all of my adult life. These types are nothing more than butt-kisser's without essence...

Thu, 04/16/2015 - 14:04 | 5999574 Axtrax
Axtrax's picture

I am a "company man".  Part of my job description is to be a creative thinker regarding how I solve the problems I face with accomplishing the goals and responsibilities associated with my role.  If I am not a creative thinker then I will be a low performer and will not be compensated the way I would like to be.  I am part of a department of ~250 people all held to that same standard.

 

Regarding politics we are a social species.  There are always politics.  We have to navigate them because we are human.

Thu, 04/16/2015 - 10:09 | 5998534 basho
basho's picture

" that Candidate A probably worked harder to get into and graduate from the prestigious school.

The signal is: Candidate A will work harder for the employer than Candidate B, all other qualifications being equal.

"

this is totally bogus.

just look at the s*itheads you've got running the country and their ivy-league credentials.

Thu, 04/16/2015 - 10:27 | 5998615 U-P-G-R-A-Y-E-D-D
U-P-G-R-A-Y-E-D-D's picture

I think you're right.  I'm not quite sure the article tells the full story of "signaling".  I tend to think (at least at this point in the New America) the signal sent by an Ivy Degree (or whatever similar signal) is not that the candidate worked hard to get the degree and thus will work hard later -- it's that the candidate had connections and abiility (whether based on work or not), as well as an agreement that the signals hold some sort of value.  

I say this as an Ivy grad who is now going Galt.  I came up not through my class or connections, but through actual work.  It took me a lot longer than most and I suspect I was only one of a few in my law school who had been a factory worker.  These people are more and more either coming from connections, in which case the reason to hire them is that they are in your "in group", you know how to shit on other people, and are thus "deserving", or they are coming from the approach briefly mentioned in the article, i.e. "gaming" the system.  As a result we have entranched and sedimented elite classes with sociopaths mixed in...now more and more sociopathy, a.k.a. success, is taking over the top of all of the systems.  

Thu, 04/16/2015 - 10:35 | 5998650 max2205
max2205's picture

 

 

 

Some of the dumbest and clueless people I know graduated from ivy league schools

 

 

Thu, 04/16/2015 - 12:13 | 5999031 FrankDrakman
FrankDrakman's picture

Where did Bambam get his law degree?

Thu, 04/16/2015 - 15:47 | 6000029 daveO
Thu, 04/16/2015 - 10:10 | 5998535 yogibear
yogibear's picture

Why hire when you can play the financialization game?

Layoff and reduce costs, buy back shares and extract profits from existing capital items.

Boost share price and your share options.

Thu, 04/16/2015 - 12:04 | 5999003 LooseLee
LooseLee's picture

All Ivy League inventions. Wonder why I claim they have no "Essence"; no "Soul"?

Thu, 04/16/2015 - 10:11 | 5998539 youngman
youngman's picture

One of the largest trucking companies in the USA owner was a high school dropout....and we did not know this until after he died...but he could not read...but he had 1000s of Trucks shipping John Deere tractors all over the world...

Thu, 04/16/2015 - 12:14 | 5999039 zuuma
zuuma's picture

Awesome story, but an outlier, these days.

I wouldn't want to be an grade school grad illiterate person stepping out into the work world, nowadays.

 

We all have heard of some dude who smoked 3 packs of camel straights a day and died at 95 in his sleep.

Start that smoking regimen, and discover the full meaning of YMMV

Thu, 04/16/2015 - 15:57 | 6000055 daveO
daveO's picture

The reason a guy like this can't do it today is because cheap fiat-financed corporations can outcompete him with cheap loans they receive from their bankster buds. Then, they turn around and use bankster cash to buy off DC pols to allow Mexican truck drivers into the US. He's reduced to competing with Jose on wage alone. Welcome to the debt slavery plantation.

If he smokes Camels, they might, if he inhales deeply, kill him early and put him out of his slavery. If that doesn't the taxes will. So, there is a silver lining on the smoke cloud. 

Thu, 04/16/2015 - 10:17 | 5998562 WTFUD
WTFUD's picture

The LACK of quality at the Top where nepotism and crony handshakes are the accepted norm is the No.1 reason for this graveyard of iniquity.

Thu, 04/16/2015 - 10:28 | 5998619 Shad_ow
Shad_ow's picture

Excellent!

Thu, 04/16/2015 - 10:17 | 5998565 Dickweed Wang
Dickweed Wang's picture

The intrinsically ambiguous signal value of a credential cannot be substituted for real-world accreditation of real skills and working knowledge.

I've been saying for years (decades?) that those out there who are self-taught and have foregone a formal college education and a subsequent credential (i.e. degree) have been greatly discriminated against in the workforce.  Having recently left the engineering field after working there for over 25 years I can say without a doubt that the level of knowledge and skills that I attained through continuous self-study and on the job training far surpassed the level of knowledge exhibited by 90% of the degreed people I had the chance to work with on a daily basis.  In fact, there was a relatively large percentage of those degreed employees that seemed to have no real common sense or critical thinking skills at all in the work environment - making me wonder what the hell these people are learning for their $100K tuition.

Thu, 04/16/2015 - 12:06 | 5999009 LooseLee
LooseLee's picture

They are learning that conformity is the easy way out...

Thu, 04/16/2015 - 16:10 | 6000096 daveO
daveO's picture

In my family, the dolts were sent to college so they could get a gov. (mostly teaching) job. Not kidding. One spent 4 years to be a beat cop, the same job that used to filled with HS dropouts. College is now an extension of the debt slave plantation. Unless it's a technical degree, they are officially the village idiot.  

Thu, 04/16/2015 - 10:18 | 5998569 vegas
vegas's picture

Yes, and when your average 19 year old skull full of mush finally figures this shit out the education bubble will explode and universities will implode. There is no education only elitism indoctrination.

 

www.traderzoo.mobi

Thu, 04/16/2015 - 10:19 | 5998577 Atomizer
Atomizer's picture

Looking back into the rear view mirror. Classic FNK News. (Deek Jackson)

 

GOLD SILVER AND BRONZE ASSHOLES

http://m.youtube.com/watch?v=YJOVqxhUGz8

Thu, 04/16/2015 - 10:50 | 5998602 ebworthen
ebworthen's picture

Corporations are now "individuals", and individual human beings have been reduced to nutrient units for the corporate organism.

This is facilitated by government which has abandoned the social contract and the rule-of-law to become the hands, mouth, and teeth of the bank/corporate/insurer organism.

If you want to prepare yourself to be eaten, by all means, prepare away.

Thu, 04/16/2015 - 10:29 | 5998622 Magnum
Magnum's picture

I wonder what will become of the Asians who worked like automatons throughout their lives to get A grades, ace the SAT, get into top universities in order to study for the most mundane career such as dentistry, only to discover in the near future that being a dentist won't pay much?

Thu, 04/16/2015 - 10:38 | 5998662 Seek_Truth
Seek_Truth's picture

It's back to building railroads, I guess.

Thu, 04/16/2015 - 11:13 | 5998778 gobsmack
gobsmack's picture

Shit, sprayed coffee everywhere, thanks a lot.

Thu, 04/16/2015 - 10:53 | 5998718 buundawg
buundawg's picture

There's always banditry to fall back on. Just add a red beard (read The Good Earth)...

Thu, 04/16/2015 - 16:14 | 6000113 daveO
daveO's picture

The ones, around here, are up to their eyeballs in the drug trade. Several murders in the last few years. So much for the MSM narrative. 

Thu, 04/16/2015 - 10:29 | 5998624 shovelhead
shovelhead's picture

Show prospective employers you own an untraceable silenced .22 to remove competition and possible obstacles to desired goals.

Be prepared to discuss how in-house problem solving can add to the bottom line and simplfy rapid response market needs.

 

Thu, 04/16/2015 - 12:13 | 5999026 Real Estate Geek
Real Estate Geek's picture

Chopper Read would say that's "Spot on, mate!"

https://www.youtube.com/watch?v=RUseJ1Ru1Nc

 

Thu, 04/16/2015 - 10:31 | 5998632 rejected
rejected's picture

Required 21st century skill set: Yazza boss,,,, Yazza boss,,,Yazza boss,,,, Yazza boss,,,Yazza boss,,,, Yazza boss,,,Yazza boss,,,, Yazza boss,,,,Do what boss,,,, Yazza boss.

Just how much education is required to produce nothing?

Thu, 04/16/2015 - 10:38 | 5998660 indio007
indio007's picture

WTF do you think is going to happen when the logical fallacy known as appeal to authority is the foundation instead of merit.

 

Thu, 04/16/2015 - 10:56 | 5998731 MEAN BUSINESS
MEAN BUSINESS's picture

meritocracy: a ruling or influential class of educated or skilled people

aren't you contradicting yourself?

Thu, 04/16/2015 - 11:27 | 5998854 Atomizer
Atomizer's picture

Yes, we're going to place you on the hook. Our money will be secure  

Thu, 04/16/2015 - 18:58 | 6000735 indio007
indio007's picture

I never said a meritocracy and that wouldn't be me definition either.

I mean earned recognition via demonstrable talent.

Thu, 04/16/2015 - 10:50 | 5998710 buundawg
buundawg's picture

Most young adults do not know how to think clearly, set worthwhile goals, or work towards positive results on an
incremental basis. Simply put, most young adults do not know any of the basics of personal leadership. See this:
http://www.x234.com/win.


Thu, 04/16/2015 - 10:53 | 5998719 BustainMovealota
BustainMovealota's picture

Thats what helicopter parents are for,  why should they???

Thu, 04/16/2015 - 12:24 | 5999093 PresidentCamacho
PresidentCamacho's picture

I agree. Though it is not all their fault. They have been raised in this artificial shit envirment with the Tv Video games and Internet raising them. They have been left to the full manipulation of the state schooling systems without the traditional support system of strong communities and families.

This generation is truly lost and I am one of them.

 

I see squandering. God damn it, an entire generation pumping gas, waiting tables; slaves with white collars. Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war... our Great Depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very pissed off.

Thu, 04/16/2015 - 16:17 | 6000128 daveO
daveO's picture

As the take home pay declines...so do the blinders.

Fri, 04/17/2015 - 03:06 | 6002037 kareninca
kareninca's picture

Oh, don't worry.  You'll get your war.  And then you'll look back at your post here and realize that these were the good old days for your generation.

Thu, 04/16/2015 - 10:50 | 5998711 BustainMovealota
BustainMovealota's picture

" that the graduate gamed/cheated the system to gain credit without actually doing any real learning." 

**Disagree,  this is a very valuable skill today.  It is the reason business like to hire 4.0 GPA graduates,,, either they are smart or they are very resourceful,, either is good for the organization.

Thu, 04/16/2015 - 10:52 | 5998714 Chuck Knoblauch
Chuck Knoblauch's picture

Why would credentials matter in professions like medicine, engineering, and architecture?

Competence in a field of study isn't important.

It's who you know, and who willing to give you a job.

Strange article.

Thu, 04/16/2015 - 11:18 | 5998804 Boubou
Boubou's picture

You have to take into account the particulars of the field and the company.

Engineering, science etc. you may have to actually design something that works and in a small company if you can't do that it will become obvious very quickly. Not much wiggle room there.

In a larger company you may be able to hide behind others who are capable, steal their knowledge or snow the management.  Or sometimes the task is split up into tiny chunks.

In the soft fields  social, financial, management , marketing, sales, etc then noone is really expecting a measurable outcome and it is mostly down to external factors and chance. If you are lucky your incumbency coincides wiith aa good period.

 I suspect the writer is more familiar with the latter.

Thu, 04/16/2015 - 16:20 | 6000147 daveO
daveO's picture

'In the soft fields  social, financial, management , marketing, sales, etc' 

Read affirmative action hires. That's over half of all college admissions now. These degrees were created for them. See the US service academies forty years ago.


Thu, 04/16/2015 - 11:02 | 5998747 Downtoolong
Downtoolong's picture

Here’s a recipe for success in America today. Be like Julie Chen. Then, you too can get paid millions to be a shallow, elitist, talentless, producer and MC of various lame-assed reality and talk shows, which never would have happened if you hadn’t married the CEO of CBS.

http://www.msn.com/en-us/video/popculture/watch-julie-chen-makes-up-an-awkward-late-show-chant/vi-AAb1TSv?ocid=U219DHP

From Wikipedia:

Chen graduated from in 1987 from St. Francis Preparatory School after having failed the high school entrance exam for the Bronx High School of Science, the school her older sisters attended. She attended the University of Southern California and graduated in 1991 with a major in broadcast journalism and in English.

Thu, 04/16/2015 - 11:06 | 5998759 Lyman54
Lyman54's picture

I used to be asked to review applications at work.  Some of the applicants I had previously worked with.  I actually phoned a few to see if they were the same person.  I couldn't believe the BS.

 

Since then I consider most job applications for management positions to be 75% fabrication.  I told them it is far better to promote within the company. 

Thu, 04/16/2015 - 12:10 | 5999024 LooseLee
LooseLee's picture

I hear ya. I guess that was one of the reasons I couldn't advance past a certain point. I was honest. Chucked it all 10 years ago and now work for myself. Believe me, working for yourself is much more rewarding than taking orders and doing the work of others; regardless of the economic benefits.

Thu, 04/16/2015 - 11:14 | 5998783 Atomizer
Atomizer's picture

I'm a bad asshole that predicts Central Planning. Fuck off cunts. You will loose your MBA Job. 

Thu, 04/16/2015 - 11:15 | 5998793 Recognizer
Recognizer's picture

The problem with self accreditation is that there will always be a bullshit artist who is better at bullshit than even the apex worker is at the actual skills being accredited.

Thu, 04/16/2015 - 12:18 | 5999052 PresidentCamacho
PresidentCamacho's picture

Thank god for bullshit or I would be sunk

 

Thu, 04/16/2015 - 11:18 | 5998802 Atomizer
Atomizer's picture

Start focusing on Venus project. Didn't they tell you during schooling? 

Thu, 04/16/2015 - 12:20 | 5999065 dexter_morgan
dexter_morgan's picture
The Venus Project: Everything Wrong With Utopian Fantasy In 108 Simple Questions.

https://outofthegdwaye.wordpress.com/2014/02/24/the-venus-project-everyt...

Thu, 04/16/2015 - 11:19 | 5998811 Atomizer
Atomizer's picture

I'm 49, knew about this shit in the 80's. 

Thu, 04/16/2015 - 11:56 | 5998955 Kantbelieveit
Kantbelieveit's picture

The relentless focus on meritocracy here is missing the (robotic) elephant in the room. What happens to comparative human merit when machine intelligence is better at almost EVERYTHING? Currently we justify paying the person who works harder many times more than one who works less. How should we value that superior person against a machine that works 24 hours a day?

In 50 years, almost everyone who works with information will be unemployable, no matter how good their work habits, skills, or relative merit. What happens then? Will we punish everyone with poverty and misery because they fail the competitive test of the marketplace?

Thu, 04/16/2015 - 12:24 | 5999095 FrankDrakman
FrankDrakman's picture

Machine intelligence is great for doing what's already been done, but not so great at figuring out what to do next. That is, and has always been, the most valuable skill. 

Unfortunately, since 1960 or so, the rewards for figuring out what's coming have been disproprotionately shifted to the financial sphere (yes, some notable fortunes made in tech, but how many more were made in finance?). That's where many of our best and brightest have gone, and we are reaping the barren fields left when the clever forsake real invention for financial manipulation. 

Thu, 04/16/2015 - 12:38 | 5999155 Kantbelieveit
Kantbelieveit's picture

Machine intelligence doesn't fly airliners into a mountain because it is feeling suicidal. Machine intelligence is very good at figuring out what comes next when approaching terrain. Airline pilots have high status jobs that can be replaced today by computers. How many more passengers have to die because of human frailty? Pilots, lawyers, physicians, professors are all endangered species as the software gets smarter and smarter.

We need to think about how to value people based on something other than their ability to compete for money.

Thu, 04/16/2015 - 13:30 | 5999412 MEAN BUSINESS
MEAN BUSINESS's picture

pay them not to reproduce?

Thu, 04/16/2015 - 16:26 | 6000174 daveO
daveO's picture

370 was hacked. I suspect the A320 was, too. 

http://en.wikipedia.org/wiki/Iran%E2%80%93U.S._RQ-170_incident

Thu, 04/16/2015 - 12:29 | 5999113 Seek_Truth
Seek_Truth's picture

Lots of erroneous assumptions and conclusions.

"Currently we justify paying the person who works harder many times more than one who works less."

Really? Like C-levels work harder than worker bees that produce the actual product?

"How should we value that superior person against a machine that works 24 hours a day?"

And what exactly makes one a "superior person?"

"Almost everyone who works with information will be unemployable"

Begging the question- Garbage In Garbage Out.

"Will we punish everyone...?"

Who is this "we", and clearly not "everyone" will fail the ....marketplace.

The "marketplace" is based on a Ponzi scheme, that is collapsing. When the reset comes, the entire paradigm will change.

Kind of like the fall of the Roman Empire, on steroids.

Thu, 04/16/2015 - 12:41 | 5999177 Kantbelieveit
Kantbelieveit's picture

In theory, a meritocratic society hands out rewards in proportion to contributions. When machines make the majority of the contributions, how will we decide to hand out rewards?

Thu, 04/16/2015 - 13:00 | 5999261 Seek_Truth
Seek_Truth's picture

On your first point, I'd have to say I don't believe we live in a meritocratic society., and I think your "in theory" adage is a Freudian slip.

I also find the usage of "when" in your second statement to be an assumption, and nothing more.

'Tis the stuff of fiction.

Thu, 04/16/2015 - 14:43 | 5999746 Kantbelieveit
Kantbelieveit's picture

Of course we don't live in a meritocratic society, but that is our shared mythology. When this belief system shatters, what will replace it? America's secular religion has always been material "success" based on merit. In 50 years, that god will be dead.

Thu, 04/16/2015 - 12:00 | 5998977 lasvegaspersona
lasvegaspersona's picture

Malcolm Gladwell found that those in the top of their class REGARDLESS OF THE INSTITUTION were more productive than the next level down. 

This implies that those who feel superior to those arround them do more than those who may actually be brighter than them but have a lower ranking at their own school. So skip the Ivy League and be a big fish in a small pond....unless you are the best of the best.

Thu, 04/16/2015 - 16:32 | 6000198 daveO
daveO's picture

I agree, but the small ponds (businesses) are deliberately being drained by the bankster/corporate class. This leads to the best of the best being sociopaths, like Bill and Hill.

Thu, 04/16/2015 - 12:10 | 5998983 dexter_morgan
dexter_morgan's picture

The national studyAcademically Adrift: Limited Learning on College Campuses, found that over one third of college students "did not demonstrate any significant improvements in learning critical thinking and other skills central to success in the new economy" and concluded that"American higher education is characterized by limited or no learning for a large proportion of students.".

Propagandizing, teaching of concensus held myths, and being insistent on conformity DOES NOT require and DOES NOT build critical thinking skills.

duh

Also, let's look at who has screwed this country up? Is it a bunch of yahoos from local community colleges? No, it is pointy headed Ivy league folks like Bernanke, Obama, Bush, the Clintons, Holder, etc.

They can only thrive in pushing their bullshit agandas when the sheeple ARE NOT able to think critically.

Coincidence?

Thu, 04/16/2015 - 16:48 | 6000226 daveO
daveO's picture

Grandad, who graduated the 6th grade as FDR was entering office, had more critical thinking skills than any college grads I've personally met. I always loved how he argued against free trade. "How can they buy our stuff on their wage." 20+ years later and they still don't buy 'our' stuff(and never will, of course). The whole idea was to export jobs. This was a 'coup' on the collective ignorance of our nation.  

 http://1.bp.blogspot.com/-l9v77iEqSEE/Tm2Aywxh5FI/AAAAAAAAANw/QfXFViLwLq...

Thu, 04/16/2015 - 12:09 | 5999020 gimme soma dat
gimme soma dat's picture

The only thing my work experience has taught me is that the best way to get and keep a job forever is to be a minority.  As an experiment I'd like to put out my resume with the name Laqueeisha Gomez at the top just to see how many interviews I get. 

Thu, 04/16/2015 - 12:34 | 5999138 Seek_Truth
Seek_Truth's picture

And don't forget that Laqueeisha is a transsexual lesbian, who is in the country illegally.

On the fast track to executive management, "she" is.

Thu, 04/16/2015 - 12:31 | 5999129 messystateofaffairs
messystateofaffairs's picture

There is nothing more dangerous to a company manager than a subordinate that can think on his feet and synthesize solutions from available resources. In companies a minimal knowlege of operations combined with excellent social engineering skills and an ability to get results from capable subordinates while keeping them down and owning their credit is the required skill. You would never catch me working for a corporation, it's not that they don't have a use for merit, its how they use merit. Advancing in corporate structures is more about becoming a member of the club that uses the merit rather than being a merit bearer.  

Thu, 04/16/2015 - 13:35 | 5999132 Boogity
Boogity's picture

If you are a white hetero dude, being tall and mean with a large schlong are key attributes to success in the American corporate jungle.    If you don't have any of these Alpha Male attributes, being a well-connected member of the Tribe, an aggrieved minority, or a good-looking bangable woman can help get you to the top as as well.  Being proficient at lying, cheating, and BS'ing are also important attributes for success in the today's American corporate world.

Having meaningful skills, experience, or the right university degrees, are helpful for getting in the front door but basically become irrelevant once you are in the belly of the American corporate beast.

Thu, 04/16/2015 - 12:44 | 5999188 STP
STP's picture

Fuck the degree.  It only proves you sat there for four years and may or may have not soaked up some 'knowledge'.  It used to be, as other's have mentioned, worth something back in the day, but now it's an ambigous and expensive piece of paper.  It used to be, that a man could get ahead, by proving himself capable, providing extraordinary value and kicking butt, no paper needed.  But now, if you don't have the paper, many won't even look at your resume, even if you're a qualified expert in the field.  No, they'd rather hire somebody straight out of college, all of 25 years old, with no real skills whatsover.

Thu, 04/16/2015 - 13:08 | 5999291 Mike Masr
Mike Masr's picture

Dr. Rexnard you are needed at the pickle station. Did you get the cheese fries for the red toyota? 

Thu, 04/16/2015 - 13:29 | 5999400 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

I am the mastermind that rules contemporary Economics throughout the entire World, but the institutional Economists, from Ivy League schools, are the individuals that everyone in the World looks to for direction and insight when SHTF. Frankly, I have singlehandedly controlled Wall Street, the EU, and the FED, since March 10th 2008 around 11:00am, Bear Stearns New York City time. Is it any wonder why all economies in the World are failing when the blind are leading the blind throughout the entirety of academic Economics on a global scale? In brief, all banks throughout the entire World are going down for the count with my fist in all of their collective faces. The brightest minds in Economics in the World cannot hold a fucking candle to me, but they would never admit that to anyone because they rely on the smoke n' mirrors of credentialism to keep the masses ignorant and stupefied, motherfuckers!

 

NOTE: The author of the article advised me to blow my own horn, Z/H.

Thu, 04/16/2015 - 14:49 | 5999771 Amy G. Dala
Amy G. Dala's picture

So we can now see the seamless transition from the military-industrial complex to the K12/Higher Ed cartel.  The "credentialled elite" have been calling the shots for awhile now.  Friend of mine at Netjets says a surprising number of slugs on his plane are university faculty and admin.  Elizabeth Warren can march arm in arm with students protesting tuition increases, but has no problem charging $400K to teach one class and stocking up on interest free loans.

Thu, 04/16/2015 - 15:33 | 5999983 patb
patb's picture

the issue isn't signaling value.  The value of ivy league schools is the networking effect.

Frankly most of these harvard kids are fairly mediocre talents, they come from rich families

and have money, but can't figure out differential equations or the likelihood of a failure.

But they have family connections, and get fast tracked into high end jobs.

 

Look at Geithner, a mediocre talent who gets picked up at Kissinger and then off to run the New York Fed.

 

 

Thu, 04/16/2015 - 16:53 | 6000273 daveO
Fri, 04/17/2015 - 05:11 | 6002134 pitz
pitz's picture

The attack on credentials is something largely orchestrated by HR departments in order to justify their, shall we say, unsavoury ways of judging people.  Usually with the intent of bringing in foreign workers, or to offer existing workers less money than they deserve.

For instance, the technology industry constantly complains that not enough 'qualified' workers are applying.  Yet they are receiving thousands of resumes per day from people with the requisite degrees.  By discrediting the degree, as though it is not a qualification, it gives them free reign to demand a foreign worker on H-1B.

Professions for which there is a stringent licensing process, and real consequences for those who fake or cheat their credentials haven't seen the wage erosion.  Practice medicine without being highly credentialled, and men with guns will eventually show up at your door and haul you away.  But practice most kinds of non-life-critical engineering without the proper credentials, and the government won't be at your doorstep with guns. 

Fri, 04/17/2015 - 13:54 | 6003600 sam site
sam site's picture

Few graduates understand that government was the main employers of the new graduates like engineering and law.

With the decline in government in the future, the colossal hoax of college knowledge is going to be further exposed.  I recommend you use the web to re-educate yourself with youtube, Ebay and google searches.

I understand far more history, money, medicine and engineering than I ever did graduating in Philosophy/economics and later in Elec Engr.  College knowledge is a colossal hoax as is the Fed, MSM, Monopoly Quack Medicine and government at all levels.

 

Do NOT follow this link or you will be banned from the site!