Friday, May 27, 2011

Over Investment in Beauty and Slowing Aging's Effects?

UCLA is still in session and I've been teaching 2 courses this quarter. My undergraduates yawn in class and some of my MBA students wonder what in the heck I am talking about.  I am feeling the effects of aging.   I used to be one of the great teachers but now I hear Bruce Springsteen's song Glory Days (have passed me by) as I look into my students eyes.    Fortunately, I can still write a few serious papers and yell at a few of my loyal Ph.D. students or I would really feel worthless.

So, this article got me thinking about how much I should be investing in slowing down the aging process.  This author claims that her rich friends who have invested in the wonders of modern botox etc. have not anticipated the consequences that they cannot smile anymore.

To quote the author;    "We are now in the position of watching politicians and newscasters talk about disturbing issues — like, say, the state of our education system, or environmental degradation — yet they cannot muster signals of concern, much less dismay."

I have not had any of these procedures and I can certainly signal dismay.   Economists are vain and well paid. How many of us invested in these procedures?   The Hammer has taught us that beauty pays off in the labor market.  Given that Columbia Business School is demanding "full disclosure" of consulting arrangements, I think we should take the next step and also disclose our past investments in self improvement.