She graduated with honors in Philosophy.
She pursued further for a PhD in Philosophy/ Meta-Ethics in another top University...
Now the father thinks that everything is a real waste of time, money and DREAMS!
I don't want people to do the same mistake.....
What say you?
ps. What happened to that controversial Thread "Muslims in India"? I don't find it in the General Section!!!
When I graduated from Engineering college, I was not a very good engineer but a decent mugger. By way of literacy that can enhance quality of intellectual life I and was a complete ignoramus......Now the father thinks that everything is a real waste of time, money and DREAMS!
In the U.S. education is viewed differently. In the most part, the purpose of college education is making a thinking youngster, to be able to examine his/her life. ....
Now I understand why american and UK universities are occupied, supported and funded by indian and chinese students.
Figures for year 2010 in US universities
International Students: Top 20 Countries of Origin
What's happening to the Economy, Jobs and GDP in the US?
I wrote earlier that job prospects for our youngsters are getting worse every year in the US..many of the foreign students may not realize this basic fact. This could lead to massive disillusion and loss of hope for them.
Some of us say "Oh, don't worry things will get "Normal" again soon".
Maybe, may not be.
Many predict that the New Normal will be 9% unemployment and 11% under-employment (about 20% of the total labor force (about 150 million - about 50% of the total population) in mental anguish.
What did we do wrong in the near past?
1. It's a fact that our economy has been expanding well since WW II. Between 1945 till 1980 we had peace in the world (except the Cold War) and prosperity in the "land of the free - US"... during this time two very important export economies - Germany and Japan- were built from the total ruin, and our tax structure was very progressive, the marginal tax rate reaching as high as 90% on the income, and the fiscal deficit was low and public debt was coming down from 90% of GDP to nearly 30% of GDP in 1980.
2. Then the Supply Siders came in the guise of Ronald Reagan, Bushes. They slashed the marginal tax rate to nearly 30%, spent enormously on Star War armaments and Wars...this took the public debt to nearly 100% and income inequality rose and rich were getting richer and poor were going poorer.
3. The same time Globalization started in about 1980.. Communist China embraced American style Capitalism... our multi-national corporations were attracted with no tax on Capital Gain and corporate tax was set much lower than the US...American low and mid level manufacturing was destroyed because of competition from Chinese, who were keeping their currency artificially very low, always creating a massive trade deficit in their favor..
This never happened when Germans and Japanese massively exported to the US, because they were competing on level playing field of similar labor cost..
Chinese have relatively very low labor and business cost because of no labor laws, and environmental degradation was ignored willfully.
I charge our policy makers for allowing Chinese to invade our manufacturing base and destroying it. This is the root cause of our current problem.
4. How to rebuild America?
China must be stopped: We must say that only managed balanced trade with China, who is a trade manipulator.
5. Our corporate tax laws must be structured in such a way that our MNCs create jobs in America, and not outside.
6. Our personal income tax must be made very progressive, and capital gains and dividends must be taxed at the same rate as income.
7. Our slogan should be "Jobs, Jobs and More Jobs"... not "999" or similar crap from the Republican Supply Siders!
india and china held the first two spots in the world trade, and per capita income in the past and will regain their lost positions in the next thirty years. This view, propounded by some may not be acceptable or palatable; I am sure this will happen.
wonderful prediction! based on what? please.
have we written off europe and usa?
or brazil does not exist? - large size and population?
or russia? i agree, we can write off russia.
3. The means for cutting out inflation. If necessary the government must approve any price of a product, atleast in the short run.
If there is one thing history has taught us, it is that nobody stays on top for ever. Remember the Roman empire, the Persian Empire, the British empire? So too will the American empire decline and fall and something else will take its place.
It could be China, Korea or India. Brazil, Russia are more of a long shot. Clearly the smart money is on China (they at least have their population under control).
Mr. Y. I appreciate the sentiments of your post and have no sympathy for the Republicans. However I wonder if the problem is bigger than either Republicans or Democrats.
In a flat, globalized world (Thomas Friedman should be given a Nobel), any job flows to the cheapest provider. This applies to the car makers in Korea, the shirt makers in Bangladesh and the call center operators in Noida. If the US wants to preserve its high wages, it will have to deliver more. And that is difficult in today's world where information and knowledge flow faster than light.
Sure protectionism, trade tariffs is one possibility. But does one know where an all-out trade war will end? Even India is now flooded with Chinese goods.
China has very smart rulers who are very alert to any and all external threats. Perhaps the only hope of countering China is to try to destabilize it from within.
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