What We're Reading 2/16/15

Internal US migration, returns on college ed, and cheesesteaks -what else ya want? Cheez Whiz?

The End of the Suburbs and Four Other American Migration Myths

This quick post on interstate migration leads to other research studies and much more reading but its a fascinating topic in which I’m particularly interested. Not surprisingly, the fourth debunked myth shows that the largest reason people relocate within the US has to do with employment opportunities, not retirement. This is really an important factor to keep in mind when evaluating regional economies and economic growth.

‘So, who moves, and why? It’s mostly people in their early and late 20s—educated strivers with low-to-moderate incomes who don’t yet have kids and are seeking economic opportunities. And 30-somethings, often for family or housing-related reasons. But don’t imagine journalists, software engineers or artisanal brewers. Most often, young movers are teachers, medical technicians and oil-rig workers, not “creatives.”’

http://blogs.wsj.com/economics/2015/01/23/the-end-of-the-suburbs-and-four-other-american-migration-myths/

 

College Graduates Don’t Think Their Degree Pays Off. They’re Wrong

I suppose the punchline is the same good news as expected, but I wonder if the survey respondents are really that far off base if you take into account the debt burden and other realities facing today’s graduates. Eh, it could be a case of not knowing gee from haw.

“A majority of college graduates say that students who recently left school will get a lower return on their degree than they would have a decade ago, according to a report released on Tuesday by an educational technology company, Greenwood Hall.” 

“The people who earned the most were the most pessimistic about the current value of college. Nearly two-thirds of people making over $100,000 said college has lost value, compared to its usefulness 10 to 15 years ago. Fewer than half of those making less than $35,000 felt the same way.”

http://www.bloomberg.com/news/articles/2015-02-10/college-graduates-don-t-think-their-degree-pays-off-they-re-wrong

 

The Birth of the Philly Cheesesteak

Having grown up in the Philly area, I’ve heard versions of this story over the years. But remembering the world doesn’t revolve around South Philly, here’s an article on the birth of the Philly Cheesesteak. My favorite anecdote:

“During the depression, Pat had an inexhaustible supply of meat. Nobody could understand where the hell Pat was getting all his meat from. At the time there were a lot of cavalry horses from first World War that were being slaughtered for food. Well, a rumor started that Pat was selling this horse meat at the store.

So, Pat took a huge ad out in the paper and offered a $10,000 cash reward for anyone who could prove that he sold horse meat. People came from everywhere — California, New York, Texas — to prove that Pat used horse meat. Nobody could ever prove he had horse meat at that store. Do you know why?

Because Uncle Pat started the rumor.”

http://priceonomics.com/the-birth-of-the-cheesesteak/