In "The Disposable Academic," The Economist says that "doing a PhD is often a waste of time." While it acknowledges that graduate students complaining that their line of work is akin to "slave labor" is "nothing new," The Economist argues that "there seems to be genuine problems with the system," as there is "an oversupply of PhDs" few job openings for them. The Economist says critics have even gone so far as to compare graduate programs to Ponzi schemes.

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