Comment Overproduction of elites (Score 2, Insightful) 104
Peter Turchin has quite a lot to say on that subject.
As a previous poster pointed out, what fields are affected? There might be a shortage of mining engineers, but there is a surplus of surplus of gender studies. I'd also point out that the periodic table is complete. Cosmology might be interesting but isn't putting food on the table or electrons on the wires.
Speaking personally, I have a Ph.D in extractive metallurgy. That career field was largely shut down by the Democratic Party during the Clinton administration because mining was deemed impure and unclean. I was supposed to transition to a new career in ecotourism.
Given the current economic turmoil is it really surprising the students are thinking twice before committing that much money and time to a field that may not exist by the time they are done?
A couple years ago China was shipping college graduates to the countryside and handing them a hoe. They had a wrong major problem too.
Also worth noting, the neighbor is getting a new roof. No AI in sight, humans only. Some person, not an AI, is mowing between the rows of trees in the orchard across the street. And it was me picking the last of the raspberries on Sunday.
Don't overestimate the usefulness or the economic value of a Phud.