What Would Smeal Say?
Roger Scruton over at the New Statesman had an interesting realization in his latest column. Here’s a little table comparing how well $1000 would have done this year if invested in different ways:
$1000 of Nortel stock would be worth $49.
$1000 of Enron stock would be worth $16.50.
$1000 of Delta stock would be worth $49.
$1000 of United Airlines stock would be worth nothing.
$1000 of beer would be worth $214 if you turned the cans into a aluminum recycling organization. Plus, you would have drunk $1000 worth of beer (roughly 1700 brewskis).
Scruton makes the claim that wine would actually be the better investment, but he’s assuming that it won’t be drunk. Like that would work here. So, fratarnities, I hope you’ve been saving the cans. It’s good for the environment and your wallet. Only thing it’s bad for is your liver.
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Penn State and the Process of Life
To paraphrase Mark Twain: The reports of higher education’s death have been an exaggeration. American universities produce more research and relevant knowledge for the world at large than any other institutions I know of. Tuition may be too damn high, but over the long-run, undergraduate degrees are definitely worth the cost. But Penn State could be so much more. It used to be, I think.