Graduate School, A Ponzi Scheme?
The Economist has a very interesting article about the usefulness of graduate education and PhDs. I don’t entirely agree with the article because I think it neglects a critical factor for pursuing an advance degree, job satisfaction. But it does bring up some key questions for academics. Namely, are we creating an oversupply of doctorates? Many of the brightest students that I went to graduate school with have left academia or are still struggling to find positions. Of course, there are individual-level factors at play in these cases, but I cannot help agree with the Economist’s article that the problem mainly resides at the system-level.