August 31, 2009

More on Nicholas Mankiw's Boy

N. Gregory is surprised at the controversy and comment that his post on SAT scores and income correlation generated.

I say "surprising" because I almost did not post the piece at all, thinking that it was a bit pedantic and pedestrian. In other words, a big yawn. I did not think my point about omitted variable bias was particularly new or controversial.

I suspect he was not even counting ThreeSourcers. But I segue to a post of his today, and my suggestion of a hypereducated US Aristocracy. He is selecting 15 students out of 200 applicants for an economics seminar -- and finds it not so easy:
That means that getting into my seminar is about as hard as getting into Harvard--except that you first have to get into Harvard before you can even apply!

Having spent much of yesterday reading through the applications, I fully recognize how difficult and somewhat random such admissions processes are. I could fill almost the entire seminar with kids with perfect SAT scores (2400), but I won't, as there is more to life than test scores.

The obvious solution is to auction off the slots. The last book in his impressive reading list is Russ Roberts's "The Price of Everything." But I'm not going to be the one to mention it...

I do wonder how many of the 15 Harvard students with perfect SAT scores came out of public education, but I am willing to be surprised. By the way, he does link to a paper that he claims backs up his suggestion on adopted children that I questioned.

Education Posted by John Kranz at August 31, 2009 12:48 PM
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