Does Science Produce Too Many PhD Graduates?

In a new paper, a group of MIT researchers argue that science is producing PhDs in far greater numbers than there are available tenured jobs for them to fill.

The authors, engineers Richard C. Larson, Navid Ghaffarzadegan, and Yi Xue, start out by noting that
The academic job market has become more and more competitive… nowadays, less than 17% of new PhDs in science, engineering and health-related fields find tenure-track positions within 3 years after graduation.
But why? Are we simp

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