Continuous education

If you have read the great divide early on in this blog, this is a dessert or extension to that article.

I would not argue that we do not need further education in our life after university graduation, most that are needed are technical issues, issues related to new inventions or discoveries. But what you find these days in big corps, the internal educations or seminars are mainly social science in nature which you can acquire through job experience, observations and reading in book stores - you do not need to buy such books if you have read 10-20 of them already because most of the books expand on a few main themes only with just too many elaborate examples that occupy the pages.

There are many reasons that contribute to the preaching of continuous education:

1. US MNCs have long been preaching globalization and the tearing down of trade barriers via their govt to improve their businesses. What they did not expect is that the loss of jobs in their own turf is just as serious after both T&T [telecom and transport] costs crash. Once jobs are offshored, they wont come back, thus the need for continuous education - another word for re-education; retraining for another job even though chances are remote to land another job with such training.
2. When a lot of people are in stressful jobs with no escape route or in a desperate state after retrenchment, the only way governments can do is to preach continuous education to this group of citizens so there looks like a slim line of hope ahead although there is really little.
3. Tertiary education institutes [and obviously the vested group of professors] are more than ready to get their share of the pie to secure their jobs if people believe in continuous education throughout their lives.
4. Just a side talk on investor education - options trading: investment banks like to preach that buying options [on index futures, stocks, commodities etc] is the best way for investors to make big money with limited resources, what they do not tell you is that they are the writers [or underwriters] of such options ie they are the sellers and you are the buyers. If options is so great for buyers of it, then why they are sellers most of the time? It is similar to lazik surgery for myopia, all of the surgeons who operate on you say they are great for you, but they themselves wear glasses. Why then do those surgeons stay away from it - because no one knows the long term impact of it, they are on the safe side.

How many government officials go on continuous education on their private budget, very few. Then why do they attend internal courses or govt sponsored ones - they get time off.

In summary

* start with a clear and analytical mind;
* choose your career carefully;
* spend your time enhancing your financial position

than on continuous education.

If you achieve financial independence early on in life, you have more choices than to go through retraining later in life.

Economic myths

In the next few months, you will read some of the economic myths that many governments these days educate their citizens on matters of daily life which they cannot manage, thus dispersing many myths such as follows:

1. Continuous education;
2. Lowering/cancellation of stock broking commission and related stamp duty;
3. VAT or GST
   

The above list will be updated from time to time to cater for new ideas that come across my mind.