Janoudi at pilot.msu.edu
Sat May 27 10:55:09 EST 1995
Good points. Higher education used to be a growth industry. This
industry has now reached maturity and is in fact undergoing
consolidation. The net result is that fewer opportunities will become
available until a steady state (more or less) of supply and demand is
reached. Ph.D. holders are the commodity that is traded in this industry
and it is natural that when supply exceeds demand prices will go down.
To put it in other words, Ph.D. holders are on sale.
Change the industry within which the commodity is traded and you have a
new ball game. We need to identify opportunities outside research.
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