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[quote=Anonymous]PHDs are not worth the investment. if you have money to burn, sure, or if you have a foreign gov subsidizing you, sure, but not for most US college graduates And most important, an NSF internal memo written in 1989, at a time the NSF was lobbying Congress to establish the H-1B program, called for bringing in large numbers of foreign students to suppress PhD salaries, and noted that that would drive away Americans from pursuing grad study A growing influx of foreign Ph.D.s into U.S. labor markets will hold down the level of Ph.D. salaries. …[The Americans] will select alternative career paths…by choosing to acquire a “professional” degree in business or law, or by switching into management as rapidly as possible after gaining employment in private industry…[as] the effective premium for acquiring a Ph.D. may actually be negative. http://users.nber.org/~sewp/references/archive/weinsteinhowandwhygovernment.pdf[/quote]
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