Dead Money - by Peter Venetoklis - The Roots of Liberty

Dead Money - by Peter Venetoklis - The Roots of Liberty - Peter

"Nellie Bowles at Bari Weiss's The Free Press recently shared this nugget:
"We have a dangerous oversupply of History PhDs: America’s graduate schools are hellbent on making thousands of unemployed people fated to wander the country reminding us that they have PhDs and that we should call them “doctor.” 

From Inside Higher Ed: “Between 2019 and 2020, 1,799 historians earned their PhDs, and only 175 of them are now employed as full-time faculty members.” 

What are the 1,624 remainders doing? 

• ...they are part of a growing segment of the populace that's killing productive capital.

In brief: Dead money.
...it's obvious to anyone who looks that we are over-regulated, over-restricted, and micro-managed by people 

• who have no skin in the game, 
• who suffer no cost for imposing those inefficiencies, and 
• who don't care one whit about the damage their excesses impose on the rest of us. ..

Now, consider the aforementioned history PhDs. 

The market has spoken. 

175 of 1799 newly-minted PhDs got about the only job a history PhD is good for: creating more history PhDs. 

Yet, because there's a twisted and distorted system of college financing (loans backstopped by the government, which means the lenders bear no risk and therefore have no reason to question borrowers' choices), we have all these overeducated idlers...