Law School is a Cash Cow

In the Wonderland of these statistics, a remarkable number of law school grads are not just busy — they are raking it in. Many schools, even those that have failed to break into the U.S. News top 40, state that the median starting salary of graduates in the private sector is $160,000. That seems highly unlikely, given that Harvard and Yale, at the top of the pile, list the exact same figure. [...] IT is an open secret, Professor Henderson and others say, that schools finesse survey inform...

 The Cultural Problems with Academia

Like any good bubble, this belief– while rooted in truth– gets pushed to unhealthy levels. Thiel talks about consumption masquerading as investment during the housing bubble, as people would take out speculative interest-only loans to get a bigger house with a pool and tell themselves they were being frugal and saving for retirement. Similarly, the idea that attending Harvard is all about learning? Yeah. No one pays a quarter of a million dollars just to read Chaucer. The implicit promise...

 Why Marriage is Not Like Prostitution

What's more, most males could not possibly afford to buy a woman's reproductive potential if courtship were a simple economic exchange. What would be an appropriate market price for a nine-month pregnancy, the pain of childbirth, the exhaustion of breast-feeding, and twenty years of maternal care? At least half a million dollars at a basic salary of $25,000, one would think. How much do men spend on courtship in the first few months? Perhaps a tenth of 1 percent of the proper market price. Th...