Purely Pecuniary

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For, money makes the world go around
…the world go around
…the world go around.
Money makes the world go ’round
The clinking, clanking sound of…
Money money money money
Money money money money…
Get a little, get a little
Money money money money…
Mark, a yen, a buck or a pound,
That clinking, clanking, clunking sound,
Is all that makes the world go ’round,
It makes the world go ’round

from “Money Makes the World Go Around” by John Kander and Fred Eb from the musical Cabaret.

Remember that song from Cabaret? When the sleazy, clown-like emcee and outrageous Sally Bowles sing “Money Makes the World Go Around”?  The film version of the classic musical about greed and corruption in pre-Nazi Germany made a huge impression on me when I first saw it as a youngster.  Liza Minnelli and Joel Grey were “divinely decadent” in the scene, provocatively contorting as they extolled the virtues of the Almighty Dollar, or mark, or yen.  Here’s a link if you want to see it: Money.

Kind of creepy, isn’t it?

Don’t get me wrong. I like money. I really do. I appreciate that with sensible management, thanks largely to my wonderful husband, we are able to sustain a comfortable living, allowing us to travel frequently to see family, provide the basis of financial security for our daughter, give to the charities of our choice, as well as save for emergencies and retirement. All of these things are wonderful.

What creeps me out about money is the overwhelming love for it that the society at large seems to have. And I mean love in the biblical sense, as in the root of all evil kind of love. I mean hot and heavy LUST for it. It permeates everything, including higher education, of course.

Here’s the even bigger problem for me.

I can’t do a darn thing about it.

I mean, I’ve tried. I speak up about the intrinsic value of education beyond training a workforce. I write about it on this blog. I try my best to provide a true education to my students–one that goes beyond passing tests or turning in assignments with a modicum of grammatical and mechanical errors so they can earn a grade in a course and be passed on to the next course. I try to give my students an education that honors their individuality, that challenges them, that enters into their hopes and dreams, no matter what their socio-economic status, no matter how much it will cost the State to educate them, no matter what they want to study, even if they want to study arts and humanities.

But I am losing the battle. Why? Because Money. Makes. The World. Go. Around.

Alright then, I can play along. Let’s play Purely Pecuniary. Let’s only talk about Money.

The Bureau of Labor Statistics (BLS) is a good place to go. It takes a few easy searches to find information that shows a bachelor’s degree or more is preferred if the goals are employment and wages:

chart (2)

 

Notice that at all times from 1998 to 2018 those who have bachelor’s degrees or higher have the lowest unemployment rate, adjusting for seasonal work.

employment growth

  • Note that production (the gray dot) is projected to have almost negative 5% growth by 2026 with wages decreasing to below the median annual wage. 
  • Notice the highest growth of employment is healthcare support followed closely by personal care and service, but these two occupations, requiring little to no post-secondary education, are also located well underneath the median wage line.
  • The higher paying careers with high employment are also in the healthcare area, but both occupations require either advanced degrees or the equivalent in technical education. Obviously, those with more advanced degrees will make more money.
  • Computer and mathematical careers have higher wages, but to get those higher wages, many will need a four-year degree or higher as this next graph indicates:

degree earnings

Clearly, earning a bachelor’s degree or higher is not only the most likely avenue to employment but is also the best direction for those who wish to make two times the median wage, or more. If you want to read more (and see more charts with important data ), then go to this informative slideshow from the BLS.

So, if indeed money does make the world go around (I don’t really believe it for a second), then obtaining a  liberal arts education or professional degree is the way to do it, and if students need or want to save money, they can begin that journey by obtaining an associate’s degree at a quality community college and transferring to a university as a junior.

Furthermore, some universities in my state and others have drastically lowered tuition, so if students transfer to a cost-effective four-year institution nearby so they can live at home, they will have an opportunity to graduate with little or no debt. Win-Win. 

See, I like money. But I LOVE providing students with an education that will give them more than a paycheck. I want to help students receive an education that frees them to seek meaningful work and otherwise enhances their lives, and the lives of others, more than they ever dreamed possible, by giving them a purpose beyond consumption–beyond material gain.

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