Sunday, April 22, 2007

Academic Pay

According to the American Association of University Professors, "The average full-time faculty salary for 2006-7 climbed 3.8 percent, outpacing the inflation rate of 2.5 percent during 2006 and giving professors a 'real' raise."

However, all is not rosy to some people: "While the AAUP was delighted to see faculty members able to improve their standard of living, a theme of this year’s annual report is the growing levels of inequality within academe."



In other words, certain areas, notably law, economics :-), computer science, and business, pay assistant professors a lot more than english does. To some, this is clearly unacceptable.

"Rosemary G. Feal, executive director of the Modern Language Association, said she wasn’t surprised by the pay gap, but was worried by it. 'I’m someone who thinks the value of a society — and the well-being of its citizenry — is reflected in the value we collectively place on arts and letters. Language and literature study offers students skills that they need to imagine and build a better world, and I think that’s something we should all care about and want to reward and support.'

"'We ought to be rewarding those who help us learn the lessons of Shakespeare’s plays just as we reward those who can teach us the lessons of Enron,' she said."

"And salaries do send messages, Feal said. 'The gap in pay worries me because it might discourage those who want to teach language and literature,” she said. “I see some evidence that those who love language and literature and aspire to be college professors are questioning the viability of their vocation. Narrowing the pay gap is a way for colleges and universities to say ‘we value the humanities.’ Market forces are one factor in determining pay, but the value we place on humanistic learning in institutions of higher education should never be subordinated to that factor.'"

What's the message here? Well, it's two-fold. First of all, pay scales should be determined in order to "send messages" about what we value, and they should be seen as rewards. This of course is unlike any other industry, where pay is determined by supply and demand-- if your particular profession is in high demand, then your pay will inevitably be higher. Rather than seeing lower salaries for english professors as a sign that there is not as high of a demand for english professors, some interpret it as the academic sector "unfairly rewarding" certain areas over others.

I especially like this one line: "Market forces are one factor in determining pay, but the value we place on humanistic learning in institutions of higher education should never be subordinated to that factor."

As opposed to what alternative? Maybe a panel could get together and determine what pay different professions "deserve." The criteria could be moral merit, amount of hard work you do (regardless if anybody else cares about your work), or any other arbitrary standard.

Thursday, April 19, 2007

The Problem with Liberalism

"Successful movements aren't built on guilt, they are built on passion."

- Arnold Schwarzenegger

*Maybe this is why liberalism has yet to become America's dominant ideology...

Thursday, April 5, 2007

The Daily Attack

This is why it's time for me to leave Durham, NC. Too bad it's not *that* much better in Philly...

Tuesday, April 3, 2007

Do you match up?

$5 to anyone that can beat this. Hehe. Click here to play. Make sure to play in *extreme* mode.

Monday, April 2, 2007

Saving Time for the Stalkers

...ok, not really, but here is where we'll be living next year.

Saturday, March 24, 2007

Next year

Penn it is...but do I really know what I'm doing?


Thursday, March 8, 2007

MIT

I think this about says it all:

"Dear Mr. Hedlund,

Thank you for your recent application to the Economics Ph.D. program. Our admissions committee has reviewed the applications and made the difficult decisions of whom to admit. Unfortunately, you have not been admitted to the program.

Please keep in mind that we received approximately 700 applications for 20-22 places in our program. There are many well-qualified applicants we were not able to admit due to lack of space in our program. We greatly appreciate your interest in MIT and wish you the best of luck in your future studies."

Wednesday, March 7, 2007

Decision Time...



It's March, which means it's about time that I hear from the graduate schools I applied to in order to get an economics PhD. In the order that the department appears in the picture above (from left to right, top to bottom), here are the results so far:

Harvard & MIT - unknown yet dubious (several people have apparently already received offers)
Princeton - rejected
Penn - accepted with funding
NSF Grant - wildcard (will hear at the end of March)

Now let's all just cross our fingers and hope for acceptances, or at least waitlists (and then a positive response on the NSF grant)...

Thursday, March 1, 2007

Cool Pictures

As far as I can tell, there is no relevance to me including the link here, but they're just so cool:

http://www.thesimplegallery.com/pictures.php

Principles of Economics

Maybe this is where the advocates of energy price-gouging legislation learned their economics. (courtesy Greg Mankiw)

Wednesday, February 28, 2007

Price Gouging 2.0

As Ronald Reagan once quipped, "There you go again..." This time it's the economics know-nothings in Congress again, looking to penalize oil companies for the laws of supply and demand.

How, you may ask? By yet again proposing a price gouging bill for energy!

Here is a link to the article on Yahoo!

More importantly, here are a few excerpts:

"With prices at the pump rebounding in recent weeks, Rep. Bart Stupak, D-Mich., said he's worried 'this summer prices may once again exceed $3 a gallon.'"

So let me get this straight, it is never legitimate for prices to reach $3 a gallon, no matter how high demand or how low supply goes?

These by far are my favorite excerpts:

"The Federal Trade Commission would be given authority to investigate price gouging in the sale of crude oil, home heating oil, propane and natural gas. 'The FTC has never brought a gas price gouging case to court,' said Stupak. In fact, the agency has no authority to do so since there is no federal energy price gouging law. FTC investigations into crude oil or gasoline pricing have focused on whether companies have colluded in violation of antitrust laws."

"Twenty-nine states have price gouging statutes, but they vary widely and some go into effect only in an emergency."

Translation: We already have all the necessary (and maybe even unnecessary) laws in place! Are companies colluding? If so, the FTC can hunt them down. Are companies exploiting unexpected market power and jacking up prices during an emergency? That is already illegal (in 29 states, and in at least some cases, with negative results)!

What we are instead seeing here is a group of "populists" arbitrarily dictating prices for oil, and using empty rhetoric to address the nation's problems, fruitlessly I might add, rather than coming up with workable solutions to resolve our energy problems.

Sigh... I guess I can't be surprised.

Wednesday, February 7, 2007

The Significance of 1996?

What can we say about the year 1996 (aside from the fact that I was in 6th grade and my voice was higher than my Mom's)?

1) Princess Diana and Mother Teresa were still alive.
2) President Bill Clinton is re-elected over Bob "Boring" Dole.
3) Java is first released.
4) The Dallas Cowboys win their 3rd Super Bowl in 4 years, becoming the first team to do that. Yeah, remember when they were "America's team"?
5) Michael Jordan's father is killed.
6) The Bulls set an NBA record for most wins in a season (hitting 70 on April 16).
7) The computer game Quake I is released.
8) Martina Hingis becomes the youngest person in history to win at Wimbledon (she was 15).
9) The OJ Simpson case begins.
...
10) THE LAST TIME DUKE PLAYED AS UNDERWHELMINGLY AS IT IS NOW! :-(

Tuesday, January 30, 2007

Da Bears vs. The Colts



We'll see if the Colts can take this category 5...

Wednesday, January 17, 2007

Jack is Back!



Yes, that's right, Bauer is back and ripping the jugulars out of terrorists (literally). However, some of you might be wondering, "I've never seen 24 before this season, so does that mean I have to miss out on all the non-stop thrills and overall awesomeness?"

To that I say two things. First of all, awesomeness is not a word. Secondly, no! Click here to see a brief summary of the first five seasons.

Wednesday, January 10, 2007

Wedding Pictures (for real)!

Here are some pictures from the wedding. I'll try to recount our (or at least my) thoughts, though I must admit, it went by so fast that it seems kind of like a blur...

You will notice unfortunately that some of these are watermarked, as they are the official photographs, but I still wanted to put them on.

This is the exterior of the church we got married in, which Katie attended all throughout college.



This is me and my four groomsmen. From left to right, they are Eric (my brother-in-law), Grant, (me), Jamie, and Patrick. Jamie and Grant have been very good friends of my mine since the beginning of middle school, and throughout college Patrick has been a good friend and mentor of mine. Eric I have only recently started to get to know, but I look forward to becoming closer with him over time as well.











These are my parents (top) and Katie's parents (bottom).





This is Katie by the window. Very pretty...



This is Katie with all of her bridesmaids. They are, from left to right, Melanie (Katie's sister), Jane (Katie's best friend from home), and Whitney (my sister).



This is Katie with Jane.



This is Katie with Melanie.



This is Katie with Whitney.



This is Katie with my Mom.



This is Katie with her Mom. They both seem very happy, which I suppose is a very good thing.



The next few images are of my grandparents, then Katie's grandparents, and then Eric with Katie's great-grandmother.







And finally, some of the ceremony pictures...







It would be grossly unfair merely to say that Dave Stuntz played the piano for us. He has been a good friend to Katie for the past 4+ years. Interestingly enough, he actually played at Katie's parents' wedding and was the one that introduced them!



And now..."the kiss"



And now, the married couple :-)



You would be surprised at how difficult it was to cut this cake. There was some sort of bead lattice in the cake that you had to cut around. Very weird, but tasty.



Yes, we are good Scandinavians.



Here are some IV peeps. I'm very glad they could come, and I look forward to being able to visit IV at least on occasion this semester...



Some sophomores...



Some juniors...



Me, Katie, Dave (my roommate of 3 years), and Jess.



Totally irrelevant, but very cute...



Katie and me being pulled in a sleigh. We should always receive this kind of service.



Katie and her cousins Kara and Kim. Very sweet...



Me and Mel.



Melanie catches the bouquet. Muahaa...



And finally, we leave, the new Mr. and Mrs. Hedlund! (notice how stylish we, or at least she, is)