NY law schools inflate job figures: critics

     Although, it is the unwritten policy of this blogger never to give lawyers one iota of sympathy, in this case it would be cruel and unusual punishment to ignore their economic plight. I wish them well in this tight economy. --------lee 

By CHRISTINE PARKER

Last Updated: 10:00 AM, March 11, 2012

     Deciding on a law school is a numbers game: cost versus reward.
     The stick is $150,000+ for studies, but the carrot is a great-paying job. But maybe not, according to recent graduates from the city’s elite law schools, who relied on job placement after getting their sheepskins.
     Critics of local law schools say Columbia, NYU and Fordham overpromise the economic benefit of a degree, inflating the number of students who find employment after graduation — and how much those jobs pay.
     “My life will be fairly uncomfortable for the next several decades,” said a third-year Columbia Law School student who borrowed $170,000 to attend and ended up with a job in which he will earn between $50,000 and $60,000.

     Deciding on a law school is a numbers game: cost versus reward.

     The stick is $150,000+ for studies, but the carrot is a great-paying job. But maybe not, according to recent graduates from the city’s elite law schools, who relied on job placement after getting their sheepskins.

     Critics of local law schools say Columbia, NYU and Fordham overpromise the economic benefit of a degree, inflating the number of students who find employment after graduation — and how much those jobs pay.

     “My life will be fairly uncomfortable for the next several decades,” said a third-year Columbia Law School student who borrowed $170,000 to attend and ended up with a job in which he will earn between $50,000 and $60,000.

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http://www.nypost.com/p/news/business/cap_and_groans_Pt9SRPFvVJiikhlWFCzasJ 

GENERATING BALANCED DEMAND AND SUPPLY TO ACHIEVE FULL EMPLOYMENT AND PRICE STABILITY

from buoyantecoomies.com

by Leigh Harkness

1. Introduction

The attainment of full employment and price stability are not conflicting objectives, they are

complementary. If we are to raise employment, we must raise the demand for, and supply of,

products. Inflation reduces the real value of money, thereby reducing both demand and

supply in the economy.

This paper explains how an economy can raise real demand and supply to bring about full

employment while maintaining price stability. Full employment and price stability cannot be

forced onto countries. They must want it and implement the appropriate policies, in their

own time. The approach presented here can be implemented unilaterally by any country

when they want it. It does not need an international organisation to police it. If it wer

adopted globally, it could achieve full employment and price stability in the global economy.

2. The Problem

2.1 Unemployment

But before we can solve unemployment and inflation, we must explain what is causing these

problems. Figure 1 shows the number of unemployed persons in the USA since 1948. It

clearly reveals that since 1973, when the US floated its exchange rate, unemployment has

increased and stayed high.

Figure 1.

Unemployment USA

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