Monday, May 12, 2008

Subject

AW told me his daughter took mathematics as her major in the university - as a slightly old-fashioned consultant, he seemed not too happy with the choice.

I must say even from a practical point of view, doing mathematics is an excellent idea: most investment banks and insurance companies make money by complicated calculations.

More importantly, many international firm deliberately recruit trainees with an unrelated degree. You know what: when Andre Kostolany first arrived at the States, he failed to get the job in Goldman Sachs - because he was just too familiar with the operation of the stock market. University education is for us to broaden our perspective and not (merely) receive training for a particular job. Otherwise we should call the school a polytechnics.

(That's why a Pandora's box was opened when the Hong Kong Polytechnics was "upgraded" to become an university. People with skill but not bachelor degree are discriminated against, and the market value of an university graduate also deteriorates - because of the increase in supply. It is, alas, one of the classical example of social decision with a loss-loss result.)

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