Antiquitopia

I am usually somewhat repelled when Pope Benedict XVI makes an official statement, but I am intrigued by the new encyclical Caritas in Veritate (Charity in Truth) recently released. In it, he basically softens anti-abortion language and calls for more socialized programs (medical, etc.) and redistribution of wealth. Someone has been reading the Gospel of Luke ! There are some responses to it here and here . Here are some snippets of comments from Thomas Reese, S.J. (the first link above): Pope Benedict's long awaited encyclical calls for a radical rethinking of economics so that it is guided not simply by profits but by "an ethics which is people-centered." "Profit is useful if it serves as a means towards an end," he writes in Caritas in veritate (Charity in Truth), but "once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty." .... ...

In the NYTimes " Room for Debate ," there is a discussion on the worth of a master's degree in the current economic crisis. Again, my department chair has joined the discussion, offering his currently characteristically pessimistic perspective. He is right, however, that the M.A. is often a cash cow for a university and that its importance and worth will vary on a case by case basis on what you are getting it for, etc. Anyway, take a look, especially if you are going back to school because of the difficulties of current job market.

The NYTimes reports that Reed College, a rigorous small liberal arts university, has had to weed out many of its students who would otherwise have been admitted but needed too much financial assistance and have replaced those students with those who can pay. Reed College, of course, is not alone in this, but is an example of a larger trend in response to the dwindling endowments of universities. This, in fact, has most affected smaller private universities, although no institution has been completely untouched. June 10, 2009 A Small College Struggles With Economics By JONATHAN D. GLATER PORTLAND, Ore. — The admissions team at Reed College, known for its free-spirited students, learned in March that the prospective freshman class it had so carefully composed after weeks of reviewing essays, scores and recommendations was unworkable. Money was the problem. Too many of the students needed financial aid, and the school did not have enough. So the director of financial aid gave the team a...

I would like to think that I have had a hand in helping here .

The University world is often viewed as a meritocracy on all levels, whether faculty advancement or student marks. And while some realize that (in the past) it has been really the wealthiest who tend to go to the most prestigious institutions (just due to the price tag), the trend will become more pronounced with next year's incoming class at universities around the country. Indeed, the cost of university education has been increasing at an alarming rate for a long time now, but the economic crisis will now exacerbate the divide between the haves and have nots in terms of university admissions policies. As the NYTimes reports , universities with shrinking endowments are taking the ability of a student to pay fully in cash into admissions considerations, turning the meritocracy increasingly into a plutocracy. Socio-economic diversity will be reduced, and, since unfortunately so often socio-economic diversity is linked with ethnicity, ethnic diversity is likely to decrease in pri...

The NYTimes posted basically what I already knew: the current academic job market is TERRIBLE. Between curtailed budgets, hiring freezes, and retirement-age professors holding on because they've seen their 401K's/pensions/savings shrink significantly, the job openings have dropped significantly. People who would be getting jobs, are staying back in the post-doc programs and, therefore, keeping people just coming out from getting those positions--so there is a trickle-down effect that intensifies the joblessness. March 7, 2009 Doctoral Candidates Anticipate Hard Times By PATRICIA COHEN Chris Pieper began looking for an academic job in sociology about six months ago, sending off about two dozen application packets. The results so far? Two telephone interviews, and no employment offers. “About half of all the rejection letters I’ve received mentioned the poor economy as contributing to their decision,” said Mr. Pieper, 34, who is getting his doctorate from the University of Te...

A depressing article from the NYTimes : January 27, 2009 Data Show College Endowments Loss is Worst Drop Since ’70s By KATIE ZEZIMA The value of university endowments fell about 23 percent on average in the five months ended Nov. 30, according to two newly released reports. The steep declines are forcing colleges and universities across the country to contemplate wage freezes, layoffs and a halt to construction projects. The drop found by the reports is the biggest in the value of college and university endowments since the mid-1970s, said John S. Griswold Jr., executive director of the Commonfund Institute, which manages money for educational institutions and other nonprofits. “It’s been very sudden in some ways,” Mr. Griswold said. “There were people predicting the decline a year ago or more, but I don’t think anyone could claim to see the extent of this. These are unprecedented numbers.” The reports, prepared by the Commonfund Institute and the National Association of College and Un...