Posts tagged with: wall street journal

Correction: An earlier version of this post did not examine PayScale’s methodology. The three paragraphs that address it were added, and the text has been lightly edited in other places as a result. If the post now reads unevenly, that is why. Short version: I was a bit too hard on Mr. Bump due to my own lack of due diligence. Mea culpa.

At last night’s fourth GOP debate on Fox Business, Florida Senator Marco Rubio lamented, “For the life of me, I don’t know why we have stigmatized vocational education. Welders make more money than philosophers. We need more welders and less philosophers.” You can watch the full clip from the debate below:

Spirited defenses of philosophy majors were quick to follow this on the internet. Take, for example, Philip Bump of the Wall Street Journal:

Using data from the Web site PayScale, we can look at the introductory and median incomes of both professions. In 2008, philosophy majors started at about $40,000 a year — about the same as what the Bureau of Labor Statistics says first-year welders make.

But over the longer term, philosophy majors make more. Mid-career welders make $22 an hour, according to PayScale, compared with over $80,000 for philosophy majors.

I was a philosophy minor myself, saving my major for just about the only less lucrative option than philosophy: theology. (more…)

Fox News anchor Shepherd Smith in the studio

Yesterday at The Federalist, I examined the claims of Florida Sen. Marco Rubio and Texas Sen. Ted Cruz during last week’s GOP primary debate that the “mainstream media” is dominated by “liberal bias.”

While there is some truth to this claim, as I point out in my article, the data paints a more complicated picture: Conservative outlets such as Fox News and (editorially) the Wall Street Journal outperform the closest left-leaning ones, CNN and the New York Times, by wide margins.

I write,

It would be fair to counter that cable news is not the only source on television, and not even the most-watched. Fox has no evening news like ABC, NBC, CBS, and PBS. The fact that, according to a recent study by the American Press Institute, “Democrats are more trusting of news from the three broadcast networks and the newswires, while Republicans are more trusting of news from cable” suggests the slant there tends to favor the Left.

However, people divide their news consumption today between mediums. That same study notes, “The 24-hour cable channels … are the source most often cited for four of the topics probed: politics, international news, business and the economy, and social issues.” So when it comes to political issues, the most common source, 24-hour cable news, is fairly evenly divided: Fox News generally has a Nielsen rating about equal to CNN’s and MSNBC’s combined.

A bit later on, I return to this point: (more…)

Air-ConditioningI know why Victorian women fainted so much. They were too hot – literally. Wearing layers and layers of clothes, corseted to the point of not being able to breath, attempting to make merry in rooms draped and swathed and festooned with velvet furniture and bric-a-brac. If you think about London in the summer … you’d faint too. I will happily keep my modern clothing and my air conditioning, thank you.

Not so fast, says Pope Francis. His encyclical, Laudato Si’, suggests that air conditioning is one of those modern features that is giving us environmental woes.

Some countries are gradually making significant progress, developing more effective controls and working to combat corruption. People may well have a growing ecological sensitivity but it has not succeeded in changing their harmful habits of consumption which, rather than decreasing, appear to be growing all the more. A simple example is the increasing use and power of air-conditioning. The markets, which immediately benefit from sales, stimulate ever greater demand. An outsider looking at our world would be amazed at such behaviour, which at times appears self-destructive. (55)


postudo-108Francis X. Rocca’s Wall Street Journal article about Laudato Si’ has been translated into Spanish. Featured in Tuesday’s EcoLinks, this piece addresses many topics surrounding the new ecological encyclical, including the pope’s seeming condemnation of capitalism. Rocca quotes Acton’s Director of Research, Samuel Gregg who argues that the system the pope condemns is not actually free market capitalism:

El pontífice argentino, el primero en la historia en provenir del hemisferio Sur, escribe sobre la “deuda ecológica” del Norte global con el Sur, aduciendo que “los pueblos en vías de desarrollo, donde se encuentran las más importantes reservas de la biosfera, siguen alimentando el desarrollo de los países más ricos a costa de su presente y de su futuro”.

Las duras palabras de la encíclica desataron una inmediata polémica, anticipando el peso que la postura del Papa puede llegar a tener en el debate sobre cómo responder al cambio climático. Samuel Gregg, un católico que se desempeña como director de investigación del Acton Institute, un centro de estudios ecuménico conservador que promueve el libre mercado, objetó las premisas económicas del Papa, al decir que Francisco tiene “puntos ciegos significativos” sobre la economía de mercado. También dijo que la encíclica “en muchos aspectos es una caricatura de la economía de mercado”.


That’s one of the questions that comes to mind when reading Bill McGurn’s op-ed in today’s Wall Street Journal. Many free-market advocates, including yours truly, have already expressed concern over what may appear in the papal encyclical due this summer. McGurn concurs but, like a good entrepreneur, also sees an opportunity:

The fears are not without cause. There are many signs that do not augur well, from the muddled section on economics in the pope’s first encyclical [Actually, it was an apostolic exhortation. — K.J.] to his posing for a photo while holding up an anti-fracking T-shirt, to press coverage anticipating he will be to the fight against greenhouse gases what Pope John Paul II was to the fight against Soviet communism.

Even so, the topic is ripe for precisely the kind of corrective a pope has to offer: a reminder that God’s creation is meant to serve man—not man the environment. And its corollary: It is the have-nots who pay the highest price for the statist interventions so beloved of the Church of St. Green.

The term “human ecology” was used by Popes John Paul II and Benedict XVI (see my lecture on the topic), not only to speak about trendy environmental issues such as climate change but ones less popular among Western celebrities, especially the importance of marriage and family and the evils of population control. In doing so, the popes showed themselves to be pro-social-justice and pro-life/pro-family at the same time.

It’s possible, however, that the opponents of capitalism will use the occasion to attack economic freedom once again, even if it ultimately hurts the poor. Nothing very human about that kind of ecology.

1940Today’s parents are obsessed with setting their kids on strategic paths to “success,” filling their days with language camps, music lessons, advanced courses, competitive sports, chess clubs, museum visits, and so on.

Much of this is beneficial, of course, but amid the bustle, at least one formative experience is increasingly cast aside: good, old-fashioned hard work.

In an essay for the Wall Street Journal, Jennifer Breheny Wallace points to a recent survey of U.S. adults where “82% reported having regular chores growing up, but only 28% said that they require their own children to do them.” Paired with the related decreases in youth employment outside the home, such a trend offers a worrisome glimpse of our economic future, but even more troubling for those who believe that work with the hands produces far more than mere material benefits. (more…)

cogIn a recent piece for the Wall Street Journal, Rachel Feintzeig sets her sights on the latest trends in corporate “mission statements,” focusing on a variety of employer campaigns to “inject meaning into the daily grind, connecting profit-driven endeavors to grand consequences for mankind.”

Companies have long cited lofty mission statements as proof they have concerns beyond the bottom line, and in the past decade tech firms like Google Inc. attracted some of the economy’s brightest workers by inviting recruits to come and change the world by writing lines of code or managing projects.

Now, nearly every product or service from motorcycles to Big Macs seems capable of transforming humanity, at least according to some corporations. The words “mission,” “higher purpose,” “change the world” or “changing the world” were mentioned on earnings calls, in investor meetings and industry conferences 3,243 times in 2014, up from 2,318 five years ago, according to a Factiva search.