Nicely said. I'd only add that that there's something very sector-specific about this. I-banking doesn't run on this basis. But the newspaper, magazine, and book businesses do, as does most of Washington. (I'll bet that much of Hollywood does, too.)
This makes finance, like law, a possible route of real social mobility, while preserving, say, publishing, and much public service work, for those whose parents can afford to subsidize post-college years.
Nicely said. I'd only add that that there's something very sector-specific about this. I-banking doesn't run on this basis. But the newspaper, magazine, and book businesses do, as does most of Washington. (I'll bet that much of Hollywood does, too.)
ReplyDeleteThis makes finance, like law, a possible route of real social mobility, while preserving, say, publishing, and much public service work, for those whose parents can afford to subsidize post-college years.