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Tech alive and well at MIT

CAMBRIDGE, Mass. — The MIT campus, which was already enormous when I graduated in 1962, is in the midst of one of the largest building booms in its history.

The campus is mapped in a way only engineers and scientists could love. Think of it is a Cartesian heaven: miles of numbered buildings with numbered rooms in which students take numbered courses for numbered degree programs. Today, the deep numeration of the campus also contains a puzzle maze of temporary corridors that shunt visitors and students from one construction site to another.

Then and now

The 1961-62 handbook, which I found in a basement archive, proudly announces the presence of a single computer on campus. It was an IBM Type 709 mainframe. Only six courses contained the words "computer" or "computation" in their titles. Today, computers spill into the hallways, laptops have replaced book bags, and the slide rule is a collector's item on eBay.

Beyond the campus, new research and office space has exploded far beyond the old Kendall Square boundary. A shock wave of new apartment buildings juts into adjacent Somerville.

According to Charles M. Vest, president of Massachusetts Institute of Technology, there are 54 biotechnology firms within a mile of the campus. Forty years ago, the double helix structure of DNA was a relatively new discovery. Computational Biology did not exist.

More companies are coming. Novartus, the pharmaceutical firm, is moving to Cambridge "to be where the talent is."

Amazing changes

Why am I telling you this?

Because, stock market notwithstanding, technology is not dead. It is alive and moving faster than ever.

I know this because I listened to Marilee Jones. Her formal title is director of admissions at MIT, but her co-workers see her as a major life force. At a class dinner, she compared the graduates of 1962, the last of the silent generation, to the class of 2002, the boomers' babies. Here are some of the amazing changes and constants of 40 years:
  • Think public education is failing? Then explain why 79 percent of the class of 1962 and 70 percent of the class of '02 attended public schools. Explain why the class of '02 had average SAT scores of 753 in mathematics and 706 in verbal aptitude, compared with average scores just under 700 for the class of '62.Explain how two-thirds of the class of '02 had taken university-level classes while in high school. Explain how many had mastered college-level calculus and chemistry — then went on to organic chemistry and biochemistry. (Hint: Being a study drudge is not the answer. Sixty percent played varsity sports in high school, and 70 percent were in the performing arts. While the class of 1962 supported 70 clubs and activities as undergraduates, the class of 2002 engaged in 340 clubs and activities.)
  • Think our society is slow to change? Then explain how we moved from 15 women among the 834 members of the class of 1962 — a virtual trace element — to 451 women in the class of 2002. "This is the era of girls," says Ms. Jones. In 1962, 90 percent of the graduates were white males. In 2002, 29 percent were white males.
  • Think we live in a rigid, economically stratified society? Then explain why 40 percent of the class of 2002 is first-generation Americans, the children of immigrants.
While tuition at MIT has ballooned from $1,500 a year in 1962 to $27,000 this year, it remains an institution of social and economic mobility.

The class of 2002 represents a family income distribution that nearly duplicates the national distribution. After graduation day, however, they take their first job at $60,000 to $70,000 a year, up tenfold from the $6,000 starting salary typical for the class of 1962.

"What I've concluded," Ms. Jones says, "is that a new generation is fully enrolled. They were reared in peacetime in relative affluence. They were raised by baby boomers. Most of them have been in day care since they were very young. They've been trained in group-ness. They know how to lead and how to follow. It's a very useful skill set.

"They want to save the world and solve problems. They want to prevent bad things from happening — but they are almost wildly exposed to the world. They demand community.

"It's a remarkable generation."

Fasten your seat belt.

Only published comments... Jun 16 2002, 10:02 AM by scottb
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ABModerator03 said:

[...] Sunday, June 16, 2002: Tech Alive and Well at MIT ———————————————————————————————— [...]
December 4, 2006 4:42 PM

About scottb

Scott Burns has covered the changing world of personal finance and investments for nearly 40 years. Today, he ranks as one of the five most widely read personal finance writers in the country. Scott began his career as a newspaper columnist at the Boston Herald in 1977 where he was also the financial editor. Nationally syndicated in 1981 and now distributed by Universal Press, the column appears in newspapers from Boston to Seattle. In 1985 he joined the staff of the Dallas Morning News where his column quickly became one of the most widely read features in the paper. He left the Dallas Morning News in 2006 to become one of the founders of AssetBuilder and its Chief Investment Strategist. Burns is a graduate of Massachusetts Institute of Technology (1962). He has written four books, including "The Coming Generational Storm" (MIT Press, 2004) coauthored with economist Laurence J. Kotlikoff. His fourth book, also coauthored with Kotlikoff, was published in 2008 by Simon & Schuster. The paperback edition will be available in January, 2010.  "Spend Til' the End" uses consumption smoothing to demonstrate the errors of conventional financial planning. His business experience includes working as a staffer for a major consulting company and service as a director and audit chairman of a NASDAQ listed manufacturing company. He and his wife now live in Dripping Springs, a "hill country" town about 25 miles outside of Austin.


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