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  1. Boonton says:

    8.Higher education and a point made contra Mr Krugman.

    What a stupid piece of crap. So if I take this idiots argument seriously youth unemployment has shot up because people suddenly started opting to major in stupid things in college and then sometime around 2008 all those stupid graduates hit the job market and couldn’t get a job……

    But markets clear. A person who graduate school with a medical degree is worth more than one in computer programming. Hence one commands a higher salary on the market. There’s no reason, by this blogger’s economic theory, for the person who ‘stupidly’ choose computers over health to be unemployed. He simply finds he cannot command the salary of others.

    Of course this is giving this guy the credit of taking his argument seriously….which requires believing sometime around 2004 kids entering college suddenly got super stupid which caused their unemployment rate in 2008 to shoot sky high. A more likely explanation, of course, is that in 2008 there was a recession!