The system of PhD education in the United States and many other countries is broken and unsustainable, and needs to be reconceived. In many fields, it creates only a cruel fantasy of future employment that promotes the self-interest of faculty members at the expense of students. The reality is that there are very few jobs for people who might have spent up to 12 years on their degrees. ... There are two responsible courses of action: either radically reform doctoral programmes or shut them down.They've also published a piece giving a more global perspective:
Education: The Ph.D. Factory
Definitely articles worth reading.
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