Did you see this list of the top majors for the 1%?
We got an interesting question from an academic adviser at a Texas university: could we tell what the top 1 percent of earners majored in?
The writer, sly dog, was probably trying to make a point, because he wrote from a biology department, and it turns out that biology majors make up nearly 7 percent of college graduates who live in households in the top 1 percent.
According to the Census Bureau’s 2010 American Community Survey, the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order.
|Undergraduate Degree||Total||% Who Are 1 Percenters||Share of All 1 Percenters|
|Health and Medical Preparatory Programs||142,345||11.8%||0.9%|
|Political Science and Government||1,427,224||6.2%||4.7%|
|Art History and Criticism||137,357||5.9%||0.4%|
|Area, Ethnic and Civilization Studies||184,906||5.2%||0.5%|
|Philosophy and Religious Studies||448,095||4.3%||1.0%|
|Pharmacy, Pharmaceutical Sciences and Administration||334,016||3.9%||0.7%|
|English Language and Literature||1,938,988||3.8%||3.8%|
See?? This is yet another reason to invest in research. If you don’t keep us in the lab and pay us well, we’ll go to work on Wall Street. Nice economy you’ve got there. Be a shame if something *happened* to it.
I suspect that the large number of geeks on Wall Street represents the number of quants hired to construct and run the dynamic models. Take D. E. Shaw, billionaire biologist, for example. While he’s running a hedge fund, he’s got a sideline creating molecular dynamics simulations programs on proteins. I can definitely see the crossover but what the top dogs probably fail to realize is that to the geeks, the programs are just research, as in “what would happen if we tweaked this parameter?” and there goes the Euro. God, help us.
Ironically, major pharmaceutical companies are run by former ketchup company executives and salesmen. Go figure. What we really need is for everyone to stick to their own kind. No more of this mixing of the majors. It’s unnatural.
However, this study just confirms my suspicions that it is much easier for a hard sciences major to learn business and finance than a business major to learn the hard sciences. And we in the research industries are going to pay for that lack of intellectual reciprocity.
Did you catch the article in Vanity Fair titled National Public Rodeo about the Juan Williams at NPR fiasco? There’s a sad little tale of karmic justice in it, considering the way the candidates and Fox treated him in South Carolina. His story sounds vaguely familiar. Stop me if you’ve heard this before.
Flashy African-American dude with gigs at prestigious institutions gets hired by a bunch of solidly middle class, no-nonsense, Minnesota-type liberals. They’re thrilled to be adding to the diversity of their lineup; he thinks he’s doing them a favor. Turns out he’s an “idea rat”, not a workhorse, he’s considerably more conservative than they realize, and he has a history of lack of respectful treatment of women. They would have known this if they had bothered to check out his background a bit more thoroughly but they’re blinded by their instinct to do good or fear of looking unfairly and tastelessly bigoted. The staff and management try to accommodate his quirks and his moonlighting for their arch enemy. But after half a decade, it’s just not working out. They try talking to him but whenever they try to rein him back in, he starts accusing them of racism. Everything is racism to him. Racism, racism, racism. So, they sit and wait until he royally fucks up in some spectacular way and then they fire him. And the ones who fire him who end up losing their jobs in a firestorm of conservative vs liberal rhetoric- and accusations of racism.
It’s either a misunderstanding of worldviews or it’s a clever, common strategy to accuse your detractors of the most vile, prejudicial instincts in order to get what you want. Too bad it bit him in the ass in South Carolina. I almost feel sorry for the guy. But he took the bait from Fox News and they own him now.
I’ve been following Jeff Jarvis’s Tweets from Davos, Switzerland. He snarked this tweet late yesterday:
jeffjarvis Jeff JarvisNow in the more fun part of
#WEF: brainstorming sessions. Surprising that execs will play.
Jeff seems astonished that there is still no sense of responsibility among the uber rich. They either don’t realize or callously don’t care about all of the misery they’re causing. Or, maybe it’s all part of the plan. What strikes me as odd about the very rich is that it seems like they live in a California-esque paradise of self-esteem programs. No one has ever told them what stupid, selfish excuses for human beings they are. They’ve never had any “character building” experiences. You know the kind? Whenever you needed something really badly, like a college education, and your parents didn’t have the cash to at least keep you from starving, they always said it would build your character? I should have a rock solid foundation of character by now. Not so the uber rich. Their voices are “full of money” and they have no sense of guilt for running over people who get in their way.
jeffjarvis Jeff JarvisBofA’s Moynihan responds that bankers will bear their scars for many years to come. So will we all.
Somewhere, I hear the world’s tiniest violin…
The right’s boogieman, George Soros, says that if Mitt Romney is the nominee, there won’t be much of a difference between a Obama administration and a Romney administration. The best shot Democrats have to retain the White House is for Santorum or Gingrich to get the nomination. I happen to disagree with this. Republicans, well, movement conservatives, will pull out all of the stops if Gingrich gets the nomination. They want to win and all of the misery of the past three years will be dumped on Obama, some of it for good reason. He squandered his opportunity to drag the country leftwards to the middle when he first took office and had a filibuster proof majority.
And why did he fail to do that? It’s because he doesn’t believe in it. He told you on Tuesday night that he was a moderate Republican. He’s been saying that for four years now. His heros are Ronald Reagan, Teddy Roosevelt and Abraham Lincoln. Doesn’t anyone ever notice that he doesn’t cite any Democrats as his role models? Well, for one thing, no one believed that crap about him being the second coming of FDR so he had to drop it. I think that forcing him to actually say he is a Democrat supporting strong Democratic values is physically and psychologically painful for him but I encourage the doubters to try. Try to make him say something nice about LBJ or Bill Clinton. Watch him flinch.
Anyway, Soros says he’s worried about the Supreme Court. I’m not too worried. I suspect that Ruth Bader-Ginsburg will announce her retirement before the election and will be replaced. That leaves the composition of the court stable. It would be different if Alito or Thomas or Kennedy stepped down but for some reason the Supremes have a history of living to a ripe old age whether we like it or not.
Here’s the rest of Soros’ interview from Davos, who, by the way, is also suffering from the failure to imaginate any other contest than the one between the Republicans and the Republican disguised as a Democrat. There are simply no other alternatives, like, replacing the Republican running as a Democrat with a real Democrat. I’m beginning to think that Soros is the one playing 11 dimensional chess here.:
Filed under: 2012 Election | Tagged: Barack Obama, D. E. Shaw, Davos, Fox News, George Soros, jeff jarvis, Juan Williams, majors, Mitt Romney, Newt Gingrich, quants, Supreme Court, Vanity Fair, Wall Street | 11 Comments »