Category: Great Recession

  • Sustainability in EDU Over last 20 years

    The SustainZine has been blogging (although rather sporadically)
    for 11 years. Wow!. One of the first blogs was related to an article (and a SAM
    presentation) by Hall, Tayler, Zapalski and Hall (2009). It focused on
    sustainability in Higher ED, specifically on how the facilities of universities
    were doing sustainability initiatives but there were few actual classes on
    Sustainability. The classroom, i.e., the future of sustainability was far
    behind.

    Later in 2010 Hall (2010) published an article on Lessons of recessions: Sustainability
    education and jobs may be the answer.
     (SustainZine
    Blog post here
    .) This article discusses the Great Recession of 2007-2008.
    Make no doubt about the pandemic of 2020, it too was a recession so destructive
    innovation has been (and will continue to be) the result.

    People needed to go back to school during the Great Recession
    to up their skills and to avoid the big blank spot on their resume that comes
    from prolonged unemployment. But, universities continued with the same EDU
    programs as if nothing had changed. Universities were taking on Law students,
    for example, even though we were swimming with a glut of lawyers. Hall argued
    that programs of the future, like sustainability, might be a much better
    training program; it might be a differentiator when compared to a glut of the
    regular degree program graduates.

    Over the last 10 years there have been numerous
    Sustainability programs created and many “sustainability” classes created
    within almost every discipline of many universities and Tech Schools.

    Green jobs have outpaced almost all other job categories. See the Green Job forecasts from the Bureau of Labor Statistics. Solar and Wind technicians are in high demand, but so are all the environmental cleanup specializations. 

    Here’s the SustainZine blog on Sustainability in Education
    post from
    Jan 19, 2010
    .

    Sustainability
    in Education?

    Even
    though campuses are getting greener, the classes are not.

    A big study of campuses, the Campus Report Card, by the NWF (with
    others) showed how much various schools are doing in terms of sustainability.
    They are doing a lot on campus but not much teaching of the concepts in the
    classroom. (Also see some recent research on Generation E.)

    The Campus Report Card is actually two
    similar studies, on in 2001 and one in 2008. They show that the course
    offerings of environmental and sustainability programs essentially reduced by
    half. That is, the average student in 2001 had an 8% chance of having an
    sustainability/environment class, but that dropped in half to 4% chance by
    2008.

    In fact the worst educational department was teachers education. “Teacher
    education, that program that trains K-12 teachers, has about a 15% chance of
    being able to take a course on sustainability within their major”
    (Hall et al., 2009, p. 17).

    The best guess as to why this drop happened is because of two forces. First,
    and probably foremost, the prices of oil were really low until after this
    2008 study was completed (and then they shot up to ~$150 per barrel). Second,
    the Bush/Chaney administration was friendly to oil interests and not so
    friendly to environmental interests (no links to environmental sites
    comments on this since this is a family-friendly site).

    Can we move forward with Sustainability in the US without educating on the
    subject?
    Tell us what you think?

    Reference
    Hall, E., Taylor, S., Zapalski, C., & Hall, T. (2009). Sustainability
    in education: Green in the facilities, but not in the classrooms. Proceedings
    of the Society for Advancement of Management, USA.

    Hall, E.
    (2010). Lessons of recessions: Sustainability education and jobs may be the
    answer. 
    Journal of Sustainability and Green Management. Jacksonville, FL: Academic and Business Research Institute.
    Retrieved from: 
    http://www.aabri.com/OC2010Manuscripts/OC10079.pdf  

  • Little history on Recessions… Lessons in Recessions.

    The question recently came up as to “I still have never gotten a great description how we got into the Great Depression?”

    The truth is, it wasn’t easy.

    But one of the best 4 minute explanations ever is on this YouTube video: Causes of the Great Depression.

    John Maynard Keynes, the king of Keynesian economics, would call these expansions and contractions, not recessions. You get them free with a capitalist economic system. With the exception of China, it seems that you may only get the contractions in communist systems (like USSR, Cuba, S. Korea and Venezuela).

    Read more on the Great Depression at Wikipedia. As it pertains specifically to the USA, it is pretty heavy reading, though.

    You can look at the similarities of the recessions of 2000 (the DotCom bomb) and the Great Recession of 2007-200x. In all cases there were financial bubbles at work. But the Great Recession was bubble-bulging in housing and financial markets throughout the USA and beyond. It effected all US industries and and all US States. No place to run from it, and no place to hide from it.

    Apply called The Great Recession, it is a generational recession. That is, economists argue that you should only see such a recession about once in your lifetime.  Note the massive overhang of shadow banking and the increase in uncertainty (including the use of derivatives).

    Of course, you should only experience a hurricane about once in your lifetime or see a massive flood about every 500 years. Sometimes historical precedent does not accurately foretell the future?

    You should expect markets to overshoot, maybe wildly, in the future. The overshoot will be to down side and to the up, as well.

    Keep going up, but carry a parachute.

    BTW. Check out this article about doing the same-old, same old, after a recession obviously suggests that a new approach is needed. Creating the same college degrees as if there would be jobs for them is, well, not smart!

    Hall, E. (2010). Lessons of recessions: Sustainability education and jobs may be the answer. Journal of Sustainability and Green Management. Jacksonville, FL: Academic and Business Research Institute. Retrieved from: http://www.aabri.com/OC2010Manuscripts/OC10079.pdf  

    Keywords: recession, Recovery, Great Depression, Great Recession, Keynes, Sustainable Education