Home > Academia, Elitist, Schools > What are they teaching at Harvard?

What are they teaching at Harvard?

Harvard Survey WTF?

Mao and the Communist Manifesto? No wonder all the Harvard trained academics, economists and lawyers never saw the bubble or the burst coming.

Remember that graph on grade inflation a few weeks ago? Harvard is right up top. Makes you go Hmmmmmm….

Great quote from Brooks via Mankiw:

The premise of the current financial regulatory reform is that the establishment missed the last bubble and, therefore, more power should be vested in the establishment to foresee and prevent the next one.

I read establishment as Harvard elites as well as the politicos….what do you think?

Categories: Academia, Elitist, Schools
  1. Seth
    May 1, 2010 at 09:33

    I think a big cause of recent meltdowns and financial disasters has been the widely held belief that somehow “smart” Harvard-educated folks know better. We put too much trust into what they think and become disconnected from our common sense. I remember when sub prime started unraveling and one of my “elite academic” friends didn’t know what was going on. I said, “Gee. You loan money to people who can’t pay it back and you’re surprised when they don’t pay it back?”

    He got a look on his face that said, “holy crap, that’s what it is isn’t it?” Before that he’d been seduced by the supposed sophistication of bundling the mortgages into risk pools with the complex math models and it never occurred to him that no matter how much academic lipstick you put on it, it was a bad business model.

  2. yttik
    May 1, 2010 at 21:10

    That’s exactly why you sometimes see people with an 8th grade education running successful businesses and those with fancy degrees bankrupting the country.

    Economics is nothing more then the exchange of goods and services, the price of bananas. LOL, needless to say, people who invested a lot of time and money into their educations do not always like to hear me say that. But education, like anything else, has no value if it’s used to replace common sense.

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