Thursday, June 18, 2009
The financial crash a blessing in disguise?
I just got the July Issue of Wired in the mail (in newsstands in the next couple of weeks) and it talks about how the recent financial collapse will actually benefit us in the long run, and I honestly agree. Allow me to elaborate. The article mentions that ever since 2000, college graduates majoring in business typically earned more than the average engineering or science major. This trend (which began right before the dot.com bubble burst in 2000) led to a large amount of students applying for business and finance jobs after college. Not only was this huge influx of young business people driven by the now defunct financial institutions such as Lehman Brothers or Bear Sterns agressive recruiting practices, but also of the lure of easy money that these financial institutions offered (When your $50,000 in debt after college, more money is always nice). Now that these financial institutions are in the crapper, the article argues that more people (especially younger students out of college) will be intrigued to join more science/engineering/government firms, which will be better in the long run for not only our economy but America in general. Even President Obama acknowledged this fact in a speech at Georgetown University in April [link]. So what do you think? Will this collapse create a boom of scientists and engineers?[No article available...yet]
Posted by AS at 10:13 PM