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jerryking : meritocratic   25

Billionaires have never had it so good
November 13, 2019 | | Financial Times | by John Gapper

* Fortunes are created by technology and globalization, as well as talent and enterprise.
* The “smart risk-taking, business focus and determination” of rich entrepreneurs give them the ability “to transform entire industries, to create large numbers of well-paid jobs, and to rally the world to find cures for diseases such as malaria.
* billionaires have “an obsessive business focus, constantly scanning the world for new opportunities. And they are highly resilient, undeterred by failures and roadblocks.
* There are more entrepreneurs from middle-class backgrounds who went to elite universities before making their fortunes.

But such success would have been less lucrative in the past — they might have been merely rich rather than super-rich. Before lionising or demonising elite entrepreneurs, consider how their personal talents are amplified.

(1) the superstar effect. Globalisation and technology that allows businesses, such as Google and Facebook, to span markets, help the most successful entrepreneurs to profit faster and at greater scale. Successful founders can create superstar franchises, like some Hollywood stars in China....The economist Sherwin Rosen once noted that “superstar economics” mean the returns to the winner in any category can be vastly higher than the returns to second place. These winners can, as the economist Alfred Marshall commented in 1890, “apply their constructive or speculative genius to undertakings vaster, and extending over a wider area, than ever before”.
(2) The security effect (JCK: aka "long-term vision" or having a long-term time horizon). One reason why the poor stay poor is that they cannot plan for the long-term.....“the present takes up a great deal of [poor] people’s awareness, so they tend to delay investment decisions”. The reverse is true of billionaires, who can finance ideas over decades and ride out failures and setbacks. UBS says that “the outperformance we call the ‘billionaire effect’ depends on the entrepreneur keeping control [of a company]”, but they may be advantaged by security as much as genius.
(3) the insider effect. People do not turn into billionaires without a keen sense of financial opportunity and the drive to make a series of good decisions. But once they achieve positions of power, they are reinforced by a network of advisers and brokers.
Billionaires do not leave their cash at banks; UBS or other private banks handle it. They have insider access, such as the opportunity to invest in private businesses, or initial public offerings of fast-growing companies. Wealth does not automatically beget wealth but moving in elite financial circles with enviable resources helps.
(4) the tax effect. Many countries tax income higher than capital, because it is simpler and they want to encourage entrepreneurs. But this leads to the rich paying less as a share of their wealth than those on average incomes. Wealth is also mobile... billionaires have scope through trust and offshore structures to shield some of their wealth.

It is salutary that more of today’s super-wealthy built their own fortunes, but they are also lucky to live at an unusually helpful time in economic history.
billgates  Campaign_2020  capital_flows  Elizabeth_Warren  financial_advisors  high_net_worth  insiders  long-term  meritocratic  moguls  superstars  tax_codes  tax_planning  time_horizons 
november 2019 by jerryking
What Jeffrey Epstein’s black book tells us about Manhattan
AUGUST 23, 2019 | Financial Times | Holly Peterson.

...it makes perfect sense that Epstein would need a black book of people he knew — and wanted to know. He couldn’t get to the top of the totem pole otherwise. His career was so secretive, his CV so sparse, that no one knew where his money came from. What he needed was a social network.

The primary axiom to remember in this hideous saga: rich people don’t get richer only because of tax windfalls. Rich people get richer because they hang out together....Most of the Americans included in the black book have one common denominator: they are socially and professionally voracious people who form part of New York’s “Accomplisher Class”. The accomplishers appear at book parties, Davos, the Aspen Ideas Festival, benefits and openings. They understand that to be avidly social is to assure recognition and prominence. Remember, the rich covet convening power: the ability to reach a point where one’s social and professional life are confused as one....Tina Brown has been an astute observer of New York society....“The alpha energy of Manhattan is far more intense than anywhere European: more money, bigger stakes. Every achiever who wants to get to the top, has to fight like hell to be seen and heard on this island.”.....The now ossified Wasp culture may still count for country club memberships or the preppy glow of a Ralph Lauren advertisement, but not much else. New York high society has been paradoxically meritocratic for a few decades, at least since the go-go 1980s......On a grander scale, the accomplisher class is neither defective nor debauched. When accomplishers exchange ideas, much good can come in the form of entrepreneurship in technology, business or innovative arts.....At its best, the American system of philanthropy launches museums and hospitals, urban and charter schools, and relief to the poor in towns all over America. Much of this is enabled by the accomplishers, aided by tax laws that promote charitable deductions. People in this group have multiple invites most weekday nights to attend benefits that help the causes they care about most, with the added value of showing off how magnanimous they are in programmes that list precisely how much they gave....Attending a high-end event in New York is a way of taking a victory lap with other accomplishers around the room......It would be a mistake to assume that the accomplisher class is all about wealth. If you want access to capital or airwaves, boring and rich doesn’t get you that far in this high-testosterone playground. If you ran your father’s company into the ground, you’re a nobody in this town. The paycheck is not all that matters: editorial media power controls the conversation, foundation power means you write the big checks. What people admire is top achievement in almost any field....Accomplishers in New York society may be particularly American in that they do not necessarily shy away from a bad reputation. They are so interested in a story and a comeback that they can forgive human failings, and are often intrigued with flaws as much as success.

What’s more, New York is so relentlessly fast-paced and ambition among the accomplishers so colossal, they don’t always take the time to be discerning.
Accomplisher_Class  Bonfire_of_the_Vanities  comebacks  elitism  high-achieving  high_net_worth  Jeffrey_Epstein  Manhattan  New_York_City  overachievers  philanthropy  political_power  reputation  the_One_percent  Tina_Brown  meritocratic  The_Establishment  social_networking  social_classes  tax_codes 
august 2019 by jerryking
White men run 98% of finance. Can philanthropy bring change?
June 16, 2019 | Financial Times | by Rob Manilla.

Q: How do you achieve change at the decision making level in the finance industry when diversity moves at glacial pace?
asset_management  diversity  endowments  hedge_funds  finance  foundations  Kresge  meritocratic  philanthropy  private_equity  real_estate  results-driven  social_enginering  structural_change  under-representation  white_men  women 
june 2019 by jerryking
I’m not calling to revive WASP culture. Just to learn from it.
December 6, 2018 | The Washington Post | By Fareed Zakaria.

The death of George H.W. Bush has occasioned a fair amount of nostalgia for the old American establishment.....provoked a heated debate among commentators about that establishment, whose membership was determined largely by bloodlines and connections. You had to be a WASPto ascend to almost any position of power in the U.S. until the early 1960s. Surely, there is nothing good to say about a system that was so discriminatory toward everyone else? Actually, there is. For all its faults — and it was often horribly bigoted, in some places segregationist and almost always exclusionary — at its best, the old WASP aristocracy did have a sense of modesty, humility and public-spiritedness that seems largely absent in today’s elite. Many of Bush’s greatest moments — his handling of the fall of communism, his decision not to occupy Iraq after the first Gulf War, his acceptance of tax increases to close the deficit — were marked by restraint, an ability to do the right thing despite enormous pressure to pander to public opinion.

But, and here is the problem, it is likely these virtues flowed from the nature of that old elite. The aristocracy was secure in its power and position, so it could afford to think about the country’s fate in broad terms, looking out for the longer term, rising above self-interest — because its own interest was assured. It also knew that its position was somewhat accidental and arbitrary, so its members adhered to certain codes of conduct — modesty, restraint, chivalry, social responsibility.....Today’s elites are chosen in a much more open, democratic manner, largely through education. Those who do well on tests get into good colleges, then good graduate schools, then get the best jobs and so on. But their power flows from this treadmill of achievement, so they are constantly moving, looking out for their own survival and success. Their perspective is narrower, their horizon shorter-term, their actions more self-interested.

Most damagingly, they believe their status is legitimately earned. They lack some of the sense of the old WASP establishment that they were accidentally privileged from birth. So the old constraints have vanished. Today, chief executives and other elites pay themselves lavishly, jockey for personal advantage and focus on their own ascendancy.
Fareed_Zakaria  George_H.W._Bush  WASPs  elitism  meritocratic  self-restraint  The_Establishment  arbitrariness 
december 2018 by jerryking
‘Lopping,’ ‘Tips’ and the ‘Z-List’: Bias Lawsuit Explores Harvard’s Admissions Secrets
July 29, 2018 | - The New York Times | By Anemona Hartocollis, Amy Harmon and Mitch Smith.
=======================================
One tries very hard to assess the candidate’s potential. Is he or she a self-starter? How much help has he had? Has the candidate peaked? How will he or she react to not being head of the class?

Does he or she have the core values, confidence, perspective and flexibility to adapt and thrive? Not surprisingly, companies and others prefer applicants who have what a law firm where I later recruited called “a can-do attitude.”
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........The case has been orchestrated by Edward Blum, a longtime crusader against affirmative action and voting rights laws, and it may yield him a fresh chance to get the issue before the Supreme Court. The court turned away his last major challenge to university admissions, Fisher v. University of Texas at Austin, in 2016.

[Read: How other Ivy League schools are coming to Harvard’s defense.]

The debate goes back to the civil rights movement of the 1950s and ’60s. The assassination of the Rev. Dr. Martin Luther King Jr. in 1968 was a turning point, pushing colleges to redouble their efforts to be more representative of American society.

But Asians were an overlooked minority despite a long history of discrimination. .......The plaintiffs say that the personal rating — which considers an applicant’s character and personality — is the most insidious of Harvard’s admissions metrics. They say that Asian-Americans are routinely described as industrious and intelligent, but unexceptional and indistinguishable — characterizations that recall painful stereotypes for many people of Asian descent. (The applicant who was the “proverbial picket fence” was Asian-American.).........Professor Khurana, the Harvard College dean, acknowledged that Harvard was not always perfect, but said it was trying to get its practices right.

“I have a great deal of humility knowing that some day history will judge us,” Professor Khurana said. “I think that’s why we are constantly asking ourselves this question: How can we do better? How could we be better? What are we missing? Where are our blind spots?”
admissions  affirmative_action  Asian-Americans  blind_spots  Colleges_&_Universities  discrimination  diversity  Harvard  Ivy_League  lawsuits  race-blind  race-conscious  selection_processes  biases  elitism  ethnic_stereotyping  meritocratic  students  racial_disparities  1968  core_values 
august 2018 by jerryking
Opinion | The Strange Failure of the Educated Elite - The New York Times
By David Brooks
Opinion Columnist

May 28, 2018

++++++++++++++++++++++++++++++++++++++++
See also
"Jun 18, 2007 | WSJ | Robin Moroney. Extreme intelligence might
undermine a person’s managerial capacity, he speculates. “What is
required at the top levels of govt. is not brilliance, but managerial
skill,” says Posner. That includes knowing “when to defer to the
superior knowledge of a more experienced but less mentally agile
subordinate.” Especially intelligent people also have difficulty
trusting the intuitions of less-articulate people who have more
experience than they do. That might be why many smart senior officials
in govt. have tried to reason their way through problems on their own,
assuming their civil servants’ inadequate explanations rendered their
judgments invalid."
the_best_and_brightest  books  civics  mental_dexterity  David_Brooks  diversity  dysfunction  elitism  failure  fractured_internally  the_Greatest_Generation  institutions  IQ  meritocratic  Steven_Brill  college-educated  baby_boomers  Tailspins 
may 2018 by jerryking
Steven Brill's "Tailspin": How My Generation Broke America
May 17, 2018 | | Time | By STEVEN BRILL.

From matters small – there are an average of 657 water-main breaks a day, for example – to large, it is clear that the country has gone into a tailspin over the last half-century, when John F. Kennedy’s New Frontier was about seizing the future, not trying to survive the present..............The Meritocracy’s ascent was about more than personal profit. As my generation of achievers graduated from elite universities and moved into the professional world, their personal successes often had serious societal consequences. They upended corporate America and Wall Street with inventions in law and finance that created an economy built on deals that moved assets around instead of building new ones. They created exotic, and risky, financial instruments, including derivatives and credit default swaps, that produced sugar highs of immediate profits but separated those taking the risk from those who would bear the consequences. They organized hedge funds that turned owning stock into a minute-by-minute bet rather than a long-term investment. They invented proxy fights, leveraged buyouts and stock buybacks that gave lawyers and bankers a bonanza of new fees and maximized short-term profits for increasingly unsentimental shareholders, but deadened incentives for the long-term growth of the rest of the economy.....[We need 'guardrails' against legal and financial excesses.]......Forty-eight years after Inky Clark gave me my ticket on the meritocracy express in 1967, a professor at Yale Law School jarred the school’s graduation celebration. Daniel Markovits, who specializes in the intersection of law and behavioral economics, told the class of 2015 that their success getting accepted into, and getting a degree from, the country’s most selective law school actually marked their entry into a newly entrenched aristocracy that had been snuffing out the American Dream for almost everyone else. Elites, he explained, can spend what they need to in order to send their children to the best schools, provide tutors for standardized testing and otherwise ensure that their kids can outcompete their peers to secure the same spots at the top that their parents achieved.

“American meritocracy has thus become precisely what it was invented to combat,” Markovits concluded, “a mechanism for the dynastic transmission of wealth and privilege across generations. Meritocracy now constitutes a modern-day aristocracy.”.....
Daniel_Markovits  baby_boomers  entrepreneur  income_inequality  politics  revenge_effects  Steven_Brill  political_polarization  fractured_internally  books  meritocratic  America_in_Decline?  elitism  lawyers  self-perpetuation  upper-income  inequality  privilege  the_best_and_brightest  tailspins  guardrails  the_American_dream  cultural_transmission  wealth_transfers  partisan_politics 
may 2018 by jerryking
Opinion | How to Level the College Playing Field
April 7, 2018 | The New York Times | By Harold O. Levy with Peg Tyre. Mr. Levy is a former chancellor of the New York City public schools. He wrote this article with the education journalist Peg Tyre.

Despite the best efforts of many, the gap between the numbers of rich and poor college graduates continues to grow.

It’s true that access programs take some academically talented children from poor and working-poor families to selective colleges, but that pipeline remains frustratingly narrow. And some colleges and universities have adopted aggressive policies to create economic diversity on campus. But others are lagging. Too many academically talented children who come from families where household income hovers at the American median of $59,000 or below are shut out of college or shunted away from selective universities.....The wealthy spend tens of thousands each year on private school tuition or property taxes to ensure that their children attend schools that provide a rich, deep college preparatory curriculum. On top of that, many of them spend thousands more on application coaches, test-prep tutors and essay editors. ......
(1) Let’s start with alumni. It is common to harbor fond feelings toward your alma mater. But to be a responsible, forward-looking member of your college’s extended community, look a little deeper. Make it your business to figure out exactly who your college serves. What is the economic breakdown of the current student body? Some colleges trumpet data about underrepresented minorities and first-generation students. But many don’t. And either way, there are follow-up questions to ask. How has that mix changed over the past 10 years? What policies are in place to increase those numbers?
(2) Legacy admission must end.
(3) shorten the college tour.
(4) cities and states should help students who come from the middle and working classes with programs that provide intensive advising, money for textbooks and even MetroCards
(5) Refine the first two years of some four-year liberal arts education into an accredited associate degree.
(6) Stop acting like everyone already has the road map to college plotted. The college application system has become costly and baroque. Make it possible for high schools to hire, train and deploy enough guidance counselors.
(7) stop giving to your alma mater. Donors to top universities are getting hefty tax deductions to support a system that can seem calculated to ensure that the rich get richer. If you feel you must give, try earmarking your donation for financial aid for low-income, community college students who have applied to transfer to your alma mater.
Colleges_&_Universities  accessibility  legacies  roadmaps  admissions  op-ed  unfair_advantages  social_mobility  meritocratic  alumni  hereditary  nepotism  education  self-perpetuation  super_ZIPs  opportunity_gaps  college-educated  upper-income  compounded  low-income  elitism  selectivity  follow-up_questions 
april 2018 by jerryking
Harvard Accused of Bias Against Asian-Americans
A complaint Friday alleged that Harvard University discriminates against Asian-American applicants by setting a higher bar for admissions than that faced by other groups. The complaint, filed by a…
Harvard  Colleges_&_Universities  admissions  Asian-Americans  biases  elitism  achievement_gaps  ethnic_stereotyping  meritocratic  students  racial_disparities  Ivy_League 
may 2015 by jerryking
America’s elite: An hereditary meritocracy
Jan 24th 2015 | The Economist | Anonymous.

America has always had rich and powerful families, from the floor of the Senate to the boardrooms of the steel industry. But it has also held more fervently than any other country the belief that all comers can penetrate that elite as long as they have talent, perseverance and gumption....But now, the american elite is self-perpetuating by dint of school ties, wealth....Today’s elite is a long way from the rotten lot of West Egg. Compared to those of days past it is by and large more talented, better schooled, harder working (and more fabulously remunerated) and more diligent in its parental duties. It is not a place where one easily gets by on birth or connections alone. At the same time it is widely seen as increasingly hard to get into.

Some self-perpetuation by elites is unavoidable; the children of America’s top dogs benefit from nepotism just as those in all other societies do. But something else is now afoot. More than ever before, America’s elite is producing children who not only get ahead, but deserve to do so: they meet the standards of meritocracy better than their peers, and are thus worthy of the status they inherit....wealthy parents pass their advantage(s) on to their children....
Colleges_&_Universities  elitism  hereditary  Matthew_effect  nepotism  education  values  parenting  public_education  legacies  admissions  alumni  endowments  SAT  social_mobility  self-perpetuation  super_ZIPs  opportunity_gaps  college-educated  upper-income  compounded  meritocratic  cultural_transmission 
january 2015 by jerryking
Do we really want elite youth to get more elite? | mathbabe
December 16, 2013 Cathy O'Neil,

Finally, let me just take one last swipe at this idea from the perspective of “it’s meritocratic therefore it’s ok”. It’s just plain untrue that test-taking actually exposes talent. It’s well established that you can get better at these tests through practice, and that richer kids practice more. So the idea that we’re going to establish a level playing field and find minority kids to elevate this way is rubbish. If we do end up focusing more on the high end of test-takers, it will be completely dominated by the usual suspects.

In other words, this is a plan to make elite youth even more elite. And I don’t know about you, but my feeling is that’s not going to help our country overall.
education  PISA  elitism  meritocratic  Cathy_O’Neil  compounded  self-perpetuation  Matthew_effect  opportunity_gaps  privilege  high-end  cumulative  unfair_advantages 
december 2013 by jerryking
Asians - Too Smart for Their Own Good? - NYTimes.com
By CAROLYN CHEN
Published: December 19, 2012

Asian-Americans constitute 5.6 percent of the nation’s population but 12 to 18 percent of the student body at Ivy League schools. But if judged on their merits — grades, test scores, academic honors and extracurricular activities — Asian-Americans are underrepresented at these schools. Consider that Asians make up anywhere from 40 to 70 percent of the student population at top public high schools like Stuyvesant and Bronx Science in New York City, Lowell in San Francisco and Thomas Jefferson in Alexandria, Va., where admissions are largely based on exams and grades.

In a 2009 study of more than 9,000 students who applied to selective universities, the sociologists Thomas J. Espenshade and Alexandria Walton Radford found that white students were three times more likely to be admitted than Asians with the same academic record.
admissions  education  Colleges_&_Universities  achievement_gaps  ethnic_stereotyping  meritocratic  students  racial_disparities  Asian-Americans  underrepresentation  Stuyvesant_High 
december 2012 by jerryking
Clear Conscience -- Clear Profit - WSJ.com
September 29, 2006 | WSJ | By N.R. NARAYANA MURTHY.

Our experience has shown there are five elements of success in today's global marketplace:

(1) Listen to other people's ideas, especially those of the younger generations. Devise ways of management to tap the brilliance of young minds. Some of our best ideas grew from monthly "Ideation Days," brainstorming sessions led by employees under 30. Keep doors open. Let young workers walk into senior managers' offices to present their ideas without going through "proper channels." Retire early enough to give younger people a chance to take responsibility while still enthusiastic.
(2) Maintain meritocracy. Build a company where people of different nationalities, genders and religions compete in an environment of intense competition and total courtesy. Do this by using data to decide which ideas are adopted. Our motto: "In God we trust. Everyone else brings data to the table."
(3) Benchmark yourself against internal and external competitors to make sure you are doing everything faster today than you did yesterday, or last quarter.
(4) Continue to develop better ideas. Build something great, and then break it to build something better. Never fear being insufficiently focused on a single core business. As long as your most brilliant people are continuously experimenting with the best services to provide to customers, the results will turn out right in the end.
(5) Maintain pressure to implement the best ideas with ever-higher levels of excellence.

Leadership is key to inspiring employees to make these elements part of their daily lives. The golden core of leadership is the ability to raise aspirations. Aspiration doesn't just build companies, it builds civilizations. It changes a set of ordinary people into a team of extraordinary talents, empowering them to convert plausible impossibilities into convincing possibilities.
aspirations  benchmarking  brainstorming  CEOs  data_driven  experimentation  globalization  ideas  ideation  idea_generation  India  Infosys  ksfs  leadership  listening  meritocratic  millennials 
november 2012 by jerryking
Economic Conditions-Economic trends-legal profession-lawyers-prestige-doctors - New York Times
January 6, 2008 | NYT | By ALEX WILLIAMS.

“The older professions are great, they’re wonderful,” said Richard Florida, the author of “The Rise of the Creative Class: And How It’s Transforming Work, Leisure, Community and Everyday Life” (Basic Books, 2003). “But they’ve lost their allure, their status. And it isn’t about money.”

OR at least, it is not all about money. The pay is still good (sometimes very good), and the in-laws aren’t exactly complaining. Still, something is missing, say many doctors, lawyers and career experts: the old sense of purpose, of respect, of living at the center of American society and embodying its definition of “success.”

In a culture that prizes risk and outsize reward — where professional heroes are college dropouts with billion-dollar Web sites — some doctors and lawyers feel they have slipped a notch in social status, drifting toward the safe-and-staid realm of dentists and accountants. It’s not just because the professions have changed, but also because the standards of what makes a prestigious career have changed.

This decline, Mr. Florida argued, is rooted in a broader shift in definitions of success, essentially, a realignment of the pillars. Especially among young people, professional status is now inextricably linked to ideas of flexibility and creativity, concepts alien to seemingly everyone but art students even a generation ago.
career_paths  Managing_Your_Career  law  law_firms  Richard_Florida  hedge_funds  private_equity  movingonup  meritocratic  professional_education  young_people 
march 2012 by jerryking
Why Are Harvard Graduates in the Mailroom?
By ADAM DAVIDSON
February 22, 2012
There are a number of professions in which workers are paid, in part, with a figurative lottery ticket. The worker accepts a lower-paying job in exchange for a slim but real chance of a large, future payday (e.g Hollywood, consulting, law,etc. )..this is termed meritocratic capitalism...an economic system that compels lots of young people to work extremely hard for little pay...as opposed to the expense (as Google pays), putting promising young applicants through a series of tests and then hiring only the small number who pass....the "occupational centrifuge" allows workers to effectively sort themselves out based on skill and drive. Over time, some will lose their commitment; others will realize that they don’t have the right talent set; others will find that they’re better at something else...When it’s time to choose who gets the top job or becomes partner, managers subsequently have a lot more information to work with....This system is unfair and arbitrary and often takes advantage of many people who don’t really have a shot at the big prize. But it is far preferable to the parts of our economy where there are no big prizes waiting....many economists fear that the comfortable Plan B jobs are disappearing....It’s not clear what today’s eager 23-year-old will do in 5 or 10 years when she decides that acting (or that accounting partnership) isn’t going to work out after all.
movingonup  career_paths  Managing_Your_Career  hard_work  Hollywood  meritocratic  sorting  Plan_B  apprenticeships  talent  skills  drive  payoffs  young_people  arbitrariness 
february 2012 by jerryking
Where cherished values collide - The Globe and Mail
MARGARET WENTE | Columnist profile | E-mail
Nov. 23, 2010
The growing Asian presence on North American campuses is a big story –
culturally, demographically, politically. It’s also a story that pits
some of our most cherished values against each other. We believe that
our public universities should broadly reflect society. We also believe
they should be meritocratic. But what if those two values collide?
Canada  education  Colleges_&_Universities  achievement_gaps  Maclean’s  ethnic_stereotyping  meritocratic  Margaret_Wente  students 
april 2011 by jerryking
Review & Outlook: Joel Klein's Report Card - WSJ.com
NOVEMBER 11, 2010 | WSJ. A Democrat without education
experience when he became schools chancellor in 2002, Mr. Klein began as
a mainstream reformer. Raise standards, end social promotion, hire
better teachers, promote charter schools. But as he was mugged by the
reality of the K-12 public school establishment, he began to appreciate
that real improvement requires more than change at the margin.

Thus he led the fight for far more school choice by creating charter
school clusters, as in Harlem, that are changing the local culture of
failure. Kids from as far away as Buffalo will benefit from his fight to
lift the state charter cap, which increased to 460 schools from 200.
Mr. Klein helped to expose the "rubber rooms" that let bad teachers live
for years on the taxpayer dime while doing no work. He gave schools
grades from A to F and pushed to close the bad ones, and he fought for
merit pay in return for ending teacher tenure.
Joel_Klein  education  reform  standards  tenure  meritocratic  boldness  teachers  school_districts  grading  CEOs  lawyers  Michael_Bloomberg  charter_schools  K-12  public_schools 
november 2010 by jerryking
That Bright, Dying Star, the American WASP - WSJ.com
MAY 15, 2010 Wall Street Journal | by Robert Frank. The Kagan
Nomination Marks Another Faded Day in the Establishment's Illustrious
but Insular History; a New Path to Power....The Protestant downfall can
be attributed many things: the deregulation of markets, globalization,
the rise of technology, the primacy of education and skills over family
connections.
Robert_Frank  meritocratic  WASPs  The_Establishment  Elena_Kagan  nepotism 
may 2010 by jerryking

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