Job Creation: Analog or Digital, Formal or Informal, the Paper or Plastic of Our Day

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1 Response

  1. A.J. Sutter says:

    You barely scratch the surface of the fallacies within that first Times article. First, how about selection bias: the author, Michael Ellsberg, only interviewed drop-outs who became millionaires and billionaires. How about college drop-outs generally? Second, Ellsberg touts the companies as “job-creators” — but what’s the proportion of college-dropout hires at companies that were founded by drop-outs, especially after those companies are past start-up stage? Third, there’s the notion that the purpose of education is job-creation; and fourth, that job-creation is some kind of highest Good. BTW on this last point, Italian economist Ernesto Screpanti has put forward a very clever Swiftian proposal showing that allowing voluntary slavery not would only eliminate unemployment while being Pareto-efficient, but actually is mandated by libertarian theories of justice (in Un mondo peggiore è possibile: Sei perle dalla triste scienza (2006), i.e. “A Worse World is Possible: Six Pearls from the Dismal Science”). Will we someday hear that proposed in earnest by America’s job-creationist politicians? No doubt sooner than we think.