Are PhD Students Irrational? - Los Angeles Review of Books
by Aaron R. Hanlon
We’ve presupposed a scenario in which there really is a massive oversupply of PhDs, and thus PhD students must be irrational for treading into an oversupplied labor market. But that’s simply not true. PhD “oversupply” is just a euphemistic way of talking about the fact that colleges and universities haven’t met student-generated demand with a commensurate supply of full-time, tenure-track faculty. Instead, we’ve rendered the majority of faculty contingent, increased administrators and administrative staff by 85 and 240 percent, respectively, over the past 40 years, and created a massive holding pen of temporary postdoctoral positions in STEM. If we look outside of academia for good measure, we see similar evidence of increased dependency on contingent labor, decades of stagnant wages, and no increase in leisure time to accompany increases in economic productivity. In this light it becomes harder to claim that PhD students are especially irrational or shortsighted, since so much of the broader US workforce is facing similar problems.