https://www.theatlantic.com/magazine/archive/2018/06/the-birth-of-a-new-american-aristocracy/559130/'

We are the people of good family, good health, good schools, good neighborhoods, and good jobs. We may want to call ourselves the “5Gs” rather than the 9.9 percent.

The meritocratic class has mastered the old trick of consolidating wealth and passing privilege along at the expense of other people’s children. We are not innocent bystanders to the growing concentration of wealth in our time. We are the principal accomplices in a process that is slowly strangling the economy, destabilizing American politics, and eroding democracy.

Why do america’s doctors make twice as much as those of other wealthy countries? Given that the United States has placed dead last five times running in the Commonwealth Fund’s ranking of health-care systems in high-income countries, it’s hard to argue that they are twice as gifted at saving lives. Dean Baker, a senior economist with the Center for Economic and Policy Research, has a more plausible suggestion: “When economists like me look at medicine in America—whether we lean left or right politically—we see something that looks an awful lot like a cartel.” Through their influence on the number of slots at medical schools, the availability of residencies, the licensing of foreign-trained doctors, and the role of nurse practitioners, physicians’ organizations can effectively limit the competition their own members face—and that is exactly what they do.

Lawyers (or at least a certain elite subset of them) have apparently learned to play the same game. Even after the collapse of the so-called law-school bubble, America’s lawyers are No. 1 in international salary rankings and earn more than twice as much, on average, as their wig-toting British colleagues. The University of Chicago law professor Todd Henderson, writing for Forbes in 2016, offered a blunt assessment: “The American Bar Association operates a state-approved cartel.”

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068170)

ljl at that assessment of law

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068197)

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068328)

Med School??

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068805)

This is crazy. Like, literally crazy. With x number of seats and y applications, the rejection rate is going to be what it is, notwithstanding fiddling at the margins with fee waivers and the like. What's more, with technology, it's trivial to apply to a dozen colleges and it's completely standard to go for reach/target/safety... so of course that drives up the number of applications and, inevitably, the rejection rate. What EXACTLY does the author want them to do instead, just admit everybody who sends in an envelope?

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068445)

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068462)

Yes, acceptance rates are way down. That's due to a lot of factors, including more competition and the ease of firing off a million common applications.

But acceptance rate is a retarded measure of selectivity. Juicing the number with a bunch of weak applicants isn't a sign of real selectivity. A better measure would be something like the chance of admission for someone at the median SAT-GPA pair.

Even on that measure, however, top colleges are more selective. Vanderbilt's SAT stats now look like Stanford's.

So what are colleges supposed to do about it? Massively expand? Should Harvard storm into Boston, triple its size, and steal some Duke admits?

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36069465)

I mean, by the metrics by which these decisions are made, its obvious why the seats are set at x, because its in the institutions interests to keep it set at x.

But its not like they don't have the resources necessary to significantly expand x.

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36069669)

"Well, sure, a law degree opens many paths. Not everybody who got a law degree 20 years ago is still a practicing lawyer. Have you ever heard of Barack Obama? *boomer smirk*."

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36068953)

(((Th Atlantic))) must burn.

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36069619)

Dean baker though is an interesting economist if you want to see a left wing take on issues. I used to read his blog when blogs were a thing

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36069640)

Former Chairman of Directors l/oses Fight by More Than Two Million Notes E. G. SEUBERT, SUCCESSOR President of Corporations Reelected and Made Chief Executive Officer Whiting, Ihd., March T — t#J — Colonel Robert W. Stewart lout hi« long fought battle today with John D. Rockefeller, jr.. to retain his 112,000 a year position as chairman of the board of tne'FXahdar<l Oil Company of Indiana. Mr. Stewart went down to a defeat even more decisive than had been predicted by the Rockefeller group, which had demanded his resignation because of alleged "moral unf!tne*»," but h« left the annual stockholders meeting with the plaudit* of the record gathering ringing In his ears. The position of chairman from which Colonel Stewart was ousted by more than 2,500,900 votes, was abandoned by the new board of directors whirh niet immediately after being elected. Seubert, New Head Edward Q. Seubert. president of the corporation, waa re-elected and made chief executive officer. He will take over the dntlea of Colonel Stewart .whose successor on the board 1* William M. liurton, former president of the concern. The new board of eleven has three additions, Melvin A. Traylor, president of the First National Bank of Chicago, Gentry Cash, manager of the Whiting Refinery and Thomas 8. Cook*, former suj it of the Whiting plant and now a vice presideat of the Pan-American Petroleum and Transport Corporation. The Slates presented by the Rockefeller faction and the Stewart aupporters were Identical with the exception of Colonel Stewart, Mr. Burton and Mr. Traylor. Traylor »a» named on the board to succeed I»,'jU L. Stephens, who although defeated as a director, waa retained in hi* position aa general counsel. The election of officer* by the beard was done without suggestion trom the Rockefeller group. Wlnthrop W. Aldrich. who has led. the fight for John D., Jr., hi* brother-in-law, announced Thi*. he aatd. bore out the oft-repeated declaration that Mr. Rockefeller was only Interested in the removal of Colonel Stewart.

(http://www.autoadmit.com/thread.php?thread_id=3979069&forum_id=2#36070786)