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Originally Posted by Jammer
CNN reported that most of the recent college grads were working at MC DONALD'S!
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To some extent that's always been the case, because most American-born college graduates get liberal arts degrees, and the most important words for a liberal arts grad in the the job market are "Do you want fries with that?"
But look at employment rates for graduates in engineering and the hard sciences. Not as good as they were, sure, but still a long way from working at Mickey D's.
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If we were to have a country full of imported Doctors, Engineers, Scientists or any other high level white collar level service job, who is supposed to pay them? We need a diverse economy and we really need to start building things to sell other countries again.
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The problem there is that more and more, it's not people building stuff, it's machines. That's why you can buy standard stuff - say a disk drive or iPod that's mass-produced by the millions - for next to nothing. There just aren't going to be the sort of repetitive assembly-line jobs that can easily be unionized to pay artifically high wages, because they can be replaced by machines - or by people in China or wherever who'll work cheaper.
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There is no way we are going to be able to re-train tens of millions of middle-aged/senor people for the high level service jobs.
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Err... Why not? I've been doing it myself, off and on throughout my life. I didn't even get my BS degree until I was well into my 30s (thanks to military service and a few other things), and these days - while my contemporaries talk about early retirement - I'm working on a PhD in a field that didn't even exist when I got the BS. Brains fail from disuse, not over work.