The PhD – Glut or Ponzi Pyramid Scheme?
- Pp. 17-20 (4)Christina Chow and Clement Leung
The marketization of knowledge has led to an oversupply of PhD graduates, as it does not follow the economics of supply and demand. While industries continue to complain that PhD graduates lack appropriate knowledge and skills, universities exploit their PhD students as cheap labor for teaching and research activities. PhD students have become part of the flexible workforce to meet the universities’ temporary workforce needs on a part-time and casual basis. As a result, universities tend to take on an excessive number of PhD students.