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jerryking : larry_summers   25

America’s hidden crisis: Men not at work - The Globe and Mail
MARGARET WENTE
The Globe and Mail
Published Saturday, Oct. 15, 2016

The United States’ biggest problem ... is more insidious. Millions of able-bodied men have dropped out of society – out of working life, of civic life, of family life. Many of these men belong to the Trumpenproletariat. How to re-engage them may be the biggest domestic challenge the country faces.

Political economist Nicholas Eberstadt calls these men “the unworking,” to distinguish them from people who want work but can’t find it. “America is now home to a vast army of jobless men who are no longer even looking for work,” he writes. “Roughly seven million of them age 25 to 54, the traditional prime of working life.” His new book, Men Without Work: America’s Invisible Crisis, is essential reading for this election cycle. “For every prime-age man who is unemployed today,” he writes, “another three are neither working nor looking for work.” Most of these men are less educated, and many, particularly blacks, have prison records.... in fact, the work rate has been in decline for two generations. What happened during those decades was a massive shift in cultural values.... “To the extent that non-work is contagious, it is likely to grow exponentially rather than at a linear rate.” If current trends continue, he expects that more than one-third of all men in the 25-54 age group will be out of work by mid-century. That is a truly terrifying prospect – as well as fertile soil for toxic populism.

At its root, the collapse of the working class isn’t so much economic as it is social, moral and spiritual. This means that economic remedies will only take us so far. Marriage rates for less-educated men have plunged – and unmarried men are far more likely to opt for unwork. The percentage of babies born to unmarried parents has soared. Working-class whites have largely abandoned church (while church attendance among higher-income whites has stayed relatively high). Family and community networks have dissolved [JCK: the fraying of what David Brooks would call, the "social_fabric"].
Margaret_Wente  unemployment  men  joblessness  working_class  social_classes  social_fabric  Larry_Summers  job_destruction  participation_rates  addictions  opiates  socioeconomic  habits  values  books  unworking  populism  social_crisis  moral_crisis  spiritual_crisis  cultural_values  whites  contagions  exponential 
october 2016 by jerryking
The rich have advantages that money cannot buy - FT.com
June 8, 2014 7:01 pm
The rich have advantages that money cannot buy
By Lawrence Summers

average affluent child now receives 6,000 hours of extracurricular education, in the form of being read to, taken to a museum, coached in a sport, or any other kind of stimulus provided by an adult, more than the average poor child – and this gap has greatly increased since the 1970s.
Larry_Summers  high_net_worth  moguls  children  The_One_Percent  parenting  super_ZIPs  self-perpetuation  values  opportunity_gaps  college-educated  upper-income  unfair_advantages 
june 2014 by jerryking
In Davos, a U.S. deficit hawk gets dovish - The Globe and Mail
CHRYSTIA FREELAND

DAVOS, SWITZERLAND — Special to The Globe and Mail

Published Thursday, Jan. 24 2013
Chrystia_Freeland  Larry_Summers  Davos  Martin_Sorrell  WPP 
january 2013 by jerryking
Sites Like Groupon and Facebook Disappoint Investors - NYTimes.com
By JAMES B. STEWART
Published: August 17, 2012

Every company has its own story, but the euphoria over social media companies as a group was rooted in what economists call the network effect. The more users a site attracts, the more others will want to use it, which creates a natural monopoly and a magnet for advertisers.

Facebook has been a classic example. If your friends, colleagues or classmates are all on it, you’re all but compelled to join. But evidence that the network effect is working requires rapid growth in users and revenue, especially during the early stages of a company’s public life. So far, social media has failed to deliver the kind of growth that would bolster investor optimism, let alone euphoria.

The network effect is a double-edged sword, Ken Sena, a consumer Internet analyst at Evercore, told me this week.

“The network effect allowed these companies to grow so fast, but the decline can be just as ferocious,” Mr. Sena said. “If any of them misstep with users, they can leave, and the network effect goes into reverse.” The textbook case is Myspace, once the most visited social networking site, that is now a shadow of its former self.
networks  network_effects  Facebook  Groupon  LinkedIn  Larry_Summers  decline  missteps 
august 2012 by jerryking
An intellectual with the gloves off
24 May 2003 | The Globe and Mail pg. F.3| by John Allemang.

Tellingly, the former World Bank economist didn't just parade these hard facts as essential truths, but contrasted them with the soft-centred nostalgia felt by academics with a more sentimental education. "There's a tendency on the part of Western intellectuals to idealize rural life, and poor rural life, in developing countries."....His model of a university, which sounds a lot like a roundtable gathering at the White House, is of "a tough-minded place where there's a tough-minded clash of ideas, from which better ideas emerge." It's not an institution for the faint-hearted, and you can see that much of his impatience with the people and ideas he's confronted at Harvard have as much to do with a perceived lack of intellectual rigour as with their positioning on the spectrum of truth.
Larry_Summers  Harvard  intellectually_rigorous  deanships  Colleges_&_Universities  grade_inflation  growth  economic_development  truth-telling  tough-mindedness  developing_countries 
may 2012 by jerryking
Five grim and essential lessons for world leaders - FT.com
November 2, 2011 6:24 pm
Five grim and essential lessons for world leaders

By Lawrence Summers
G20  Larry_Summers  lessons_learned  advice  leaders  policymaking 
november 2011 by jerryking
TALK Larry Summers, Un-king of Kumbaya
Interview by ANDREW GOLDMAN
Published: May 12, 2011

You know, in meetings, I’m more focused on trying to figure out what the right answer is than making everybody feel validated. In Washington and at Harvard, that sometimes rubs people the wrong way
Larry_Summers  interviews 
may 2011 by jerryking
Harvard Radical
August 24, 2003 | The New York Times Magazine p28 col 01 (165 col)| by James Traub.

The fundamental reason Summers wants to change the undergraduate curriculum is that, as he explains, the nature of knowledge has changed so radically. Summers often says that one of the two most important phenomena of the last quarter-century is the revolution in the biological sciences. And yet, as he also often says, while it is socially unacceptable at an elite university to admit that you haven't read a Shakespeare play, no stigma at all attaches to not knowing the difference between a gene and a chromosome or the meaning of exponential growth. Summers compares this ignorance to the provinciality of never having traveled abroad. He wants every student to live in science for a while and not just to do some sightseeing in a course designed to help you ''think like a biologist.'' Summers is not categorically opposed to the ''ways of thinking'' approach. ''The hard question,'' he said, ''is the line between learning a lot of science in one area and surveying more broadly but less deeply and thus less close to the genuine professional enterprise.''
Larry_Summers  Harvard  Cornel_West  Henry_Louis_Gates  deanships  curriculum  leadership  Colleges_&_Universities  elitism  Ivy_League 
april 2011 by jerryking
Larry Summers Says "Tiger Mom" Amy Chua May Be Wrong - Davos Live - WSJ
January 27, 2011 By Jon Hilsenrath

His own children would be shocked to hear it, Mr. Summers said, but maybe Ms. Chua is wrong.

“In a world where things that require discipline and steadiness can be done increasingly by computers, is the traditional educational emphasis on discipline, accuracy and successful performance and regularity really what we want?” he asked. Creativity, he said, might be an even more valuable asset that educators and parents should emphasize. At Harvard, he quipped, the A students tend to become professors and the C students become wealthy donors.

“It is not entirely clear that your veneration of traditional academic achievement is exactly well placed,” he said to Ms. Chua. “Which two freshmen at Harvard have arguably been most transformative of the world in the last 25 years?” he asked. “You can make a reasonable case for Bill Gates and Mark Zuckerberg, neither of whom graduated.” Demanding tiger moms, he said, might not be very supportive of their kids dropping out of school.
Amy_Chua  billgates  WEF_Davos  education  Harvard  Larry_Summers  Mark_Zuckerberg  parenting  Tiger_Moms  commoditization_of_information  creativity  academic_achievement 
january 2011 by jerryking
Back Issues: Back Issues: Larry Summers : The New Yorker
September 22, 2010
Back Issues: Larry Summers
Posted by Jon Michaud
Larry_Summers 
september 2010 by jerryking
Technological Opportunities, Job Creation, and Economic Growth | The White House
June 28, 2010 | New America Foundation | Larry Summers. Opening
up spectrum creates a foundation for new private sector investment and
economic activity – in mobile broadband and a range of other high-value
uses – that would not have been possible without the coordinating and
organizing role of govt. But there is another reason why reforming
spectrum policy is important. Mancur Olson wrote about the tendency of
stable societies to become sclerotic as entrenched interests blocked
progress. Similarly, Alexander Gerschenkron commented on the advantages
of “economic backwardness”: Countries late to industrialize bypass-with
an open canvas-many of the dead ends and outdated practices that
encumbered early industrializers. Spectrum policy reform is important
because it addresses a cutting-edge area where we would be disadvantaged
because our early lead in developing and deploying technologies of
yesterday leave us ill-equipped for tomorrow's technological challenges.
Larry_Summers  wireless  wireless_networks  wireless_spectrum  Mancur_Olson  cronyism  job_creation  sclerotic  state-as-facilitator  leapfrogging  entrenched_interests 
july 2010 by jerryking
Summers to GOP's Boehner: Recovery Act Is Working - WSJ.com
* OCTOBER 12, 2009, Wall Street Journal | by HENRY J. PULIZZI
Larry_Summers 
october 2009 by jerryking
A Harvard Lightning Rod Finds Path to Renewal - NYTimes.com
December 6, 2008 | New York Times | By JODI KANTOR and JAVIER
C. HERNANDEZ.

As economics came to the forefront of the presidential campaign, Mr.
Obama faced constant decisions on the subject. Mr. Summers’s allies in
the campaign put Mr. Summers on the phone, giving him a key task: to
synthesize the developments for Mr. Obama. Mr. Summers made himself into
an essential guide, Obama aides say, and earned a place in the
administration.
indispensable  Larry_Summers  Obama  Harvard  economic_policy  economic_analyses 
may 2009 by jerryking
The Economic Agenda
September-October 2008 |Harvard Magazine | by Lawrence H. Summers.
Harvard  Larry_Summers  economy 
may 2009 by jerryking
Hedge Fund Paid Summers $5.2 Million in Past Year - WSJ.com
APRIL 5, 2009, 5:09 P.M. ET| The Wall Street Journal | by JOHN D. MCKINNON and T.W. FARNAM
Larry_Summers  executive_compensation  conflicts  Wall_Street  hedge_funds 
april 2009 by jerryking
The Reeducation of Larry Summers | Print Article | Newsweek.com
March 2, 2009 NEWSWEEKmagazine article by Michael Hirsh and Evan Thomas
profile  Larry_Summers 
february 2009 by jerryking
Summers Carves Out a Powerful Role - WSJ.com
FEBRUARY 1, 2009,WSJ article by By JONATHAN WEISMAN
profile  Larry_Summers  Obama 
february 2009 by jerryking
Summers Crafts Broad Role in Reshaping Economy - WSJ.com
FEBRUARY 7, 2009 WSJ article By MONICA LANGLEY profiling Larry
Summers' settling into, and shaping, his new role as chief White House
economic adviser.
policy  economics  profile  Larry_Summers  policymakers  policymaking 
february 2009 by jerryking

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