Posts Tagged ‘value’

The Economics of Education

27lede-600In this week’s New York Times Magazine—“The School Issue”—there is a short piece debating whether or not a college education is “worth it.” David Leonhardt outlines various schools of thought: On the one hand, people who earn a college degree earn substantially more than those who do not, far more than the cost of the degree itself. On the other hand, though, college-bound high school graduates are likely a more intelligent/driven bunch than those who don’t go to school at all; this group would probably be more successful even without college.

While it seems obvious to me, and to Leonhardt by the end of the piece, that a college degree is worth the hefty price, it’s less clear to me how the price should affect the choice of a particular school. Continue reading

The Value of Derek Jeter

Sam Borden raises a question that is quietly sneaking up on the Yankees: what is to be done about Derek Jeter’s contract? His 10-year, $189 million contract expires after next season, when he will be 36 years old. What do you pay an aging shortstop, who just might be the most popular player in your team’s history?

It’s quite the conundrum, as Borden points out: “Normally, you might be inclined to offer two years, $20 million for a high-end shortstop entering his 36- and 37-year-old seasons. Do that here and you’ll probably be laughed out of the room.” Continue reading

Symposium: Joba Should Stay in the Rotation

In his last game (against the Indians), Joba Chamberlain pitched a 1-2-3 eighth inning on the way to a Rivera save and a Yankees win. Oh yeah, he also pitched the first seven innings, giving up only four hits and two runs. That was probably more important.

This shouldn’t even be a debate. Anyone who knows anything about baseball knows that a starting pitcher is more valuable than a relief pitcher. In fact, anyone who knows anything about ANYTHING knows that, if someone is good at something, you want him to do that thing MORE. Continue reading