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By eriknben10
#493371
Phaedrus wrote:People like Powell, but he is no Janet Yellin and does not have a background in Economics.


So no predetermined cookie cutter but one that can listen carefully to both sides of an argument before any decisions are made. Interesting that Obama put him on the board of Governors 6 years ago. Something else about his position besides presiding over meetings and setting the agenda, the chairperson does not officially have any more power than the other six governors. Fed decisions are made by consensus, and the chair’s opinion does not, by law, carry any additional weight.
Seems to me his new job is not much different than his old job, the exception, he is now the mouthpiece for the board.
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By Phaedrus
#493372
Even though you have a quote by an economist in your signature, you appear to have no respect for the profession, if you think that a person with little learning on the subject is able to listen carefully and make decisions. To his credit, I guess, he has spent the last five years learning the subject. That means he almost has his Masters, assuming he put in the hours.
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By eriknben10
#493373
You make a lot of assumptions about people you know little to nothing about. :lol: :lol: :lol:

Perhaps you don't believe in autodidacts.

I should add if it takes you 5 years to earn a masters in economics you might want to find another so-called profession.
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By Phaedrus
#493376
1. I don't believe he is solely an autodidact as he has been learning on the job. I do not accept that job-based learning gives you the breadth of knowledge in a discipline that you receive while obtaining a specialized degree. More generally, I don't think studying on your own is either challenging or sufficient, though I am sure you can raise some anecdotal evidence that will be sufficient for you to remain blissfully happy with your opinion on the matter.

2. Perhaps you did not go the college, but before you obtain a Masters, you usually have to acquire a Bachelors. Hence the extra years.
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By eriknben10
#493380
Stinky Pete wrote:
eriknben10 wrote: so-called profession.


At least be consistent. You call it a "so-called profession", but you quote one in your signature line.


So someone needs to be a professional to be quoted? You have a strange view of people.
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By eriknben10
#493381
Phaedrus wrote:1. I don't believe he is solely an autodidact as he has been learning on the job. I do not accept that job-based learning gives you the breadth of knowledge in a discipline that you receive while obtaining a specialized degree. More generally, I don't think studying on your own is either challenging or sufficient, though I am sure you can raise some anecdotal evidence that will be sufficient for you to remain blissfully happy with your opinion on the matter.

2. Perhaps you did not go the college, but before you obtain a Masters, you usually have to acquire a Bachelors. Hence the extra years.


You have your beliefs and I have mine I suppose. So long as you remain content with the status-quo of institutional learning I'm happy for you.
How many people don't learn on the job? Shadowing on the job is the best and most efficient way to learn. Tweaking your skills as you go.

Sure you need a BA or a BS for institutional learning. I don't know if he personally had the requirements for a BA or BS in economics or not.
Do you know if they require time to pass before earning the degree or if you can pass the predetermined standard tests in advance from your self attained knowledge. The man appears to have impressed the folks that put him into office. I don't think your feelings on the matter or the silly commentary you posted are going to change their minds either.
From the Princeton review:
Most schools with a department of economics offer M.A., M.S., and Ph.D. programs in various concentrations. M.A. and M.S. programs typically require around 30 hours of course work (one to two years of study) while doctoral students can expect to spend four to five years working on required courses, dissertation research, and oral exams.
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By eriknben10
#493387
Phaedrus wrote:You didn't understand what I meant by 5 years and now you're just blowing smoke to cover your ass.


I understood everything your antiquated mind spewed. Your beloved establishment is losing ground. The only thing forced schooling could imagine to ever teach anyone is how to learn. You seem to have failed that test. If you paid for 5 years something that can be learned in 2-3 you got hosed or you're really slowwwwwww.

Before too long the brick n mortar establishments they call Universities will slowly begin to be replaced by robotic teachers spewing lectures online. If you don't learn how to learn you will be lost. The most challenging part will be how to share the wealth with those displaced or unable to keep up.

Not to mention your mistake that the man was on the board for 5 years. It was 6 but who cares.
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