Photo by Ben Cappellacci
The Baffler,  July 7, 2014

Daily Bafflements

Photo by Ben Cappellacci

• Today in Broken Records: yet another Forbes columnist helpfully explaining why Raising the Minimum Wage is Not the Answer. We would paraphrase his argument, but it’s too boring to even try to decipher.

• Today in Billionaires: Yet another eccentric Chinese billionaire philanthropist is giving away his money. But Yu Pengnian isn’t doling out cash to New York’s homeless like Chen Guangbiao; he’s actually giving away his entire fortune to a charitable foundation that supports student scholarships and earthquake relief, among other causes. The way the UK’s Mirror frames this unusual story is pretty great: “A property mogul has decided to donate his entire £1.2 billion pound fortune to charity, leaving his wife and kids with nothing . . . . You’d imagine that someone who had built such a fortune from nothing, would want to share their wealth with their family but in the case of Pengnian, you’d be wrong.”

• Did You Know that college graduates from the state of Delaware have the most student debt of any graduates in the country?

• Here’s another Fun Fact: 40,000 legitimate PhDs are granted in the United States every year, but another 50,000 fake PhDs are bought here, too.

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