Feb 2, 2020, 9:02 AM
—“unpromising future for economics phd’s”—
This is correct of course. It’s one of Eric Weinstein’s complaints: the university system is organized for unsustainable growth, false-promising careers to researchers that can’t exist, in order to obtain cheap research labor (and cheap immigrant research labor) rather than paying researchers and doing less and better research. This problem is exacerbated by the withdrawal of the military as the primary originator of basic research funds given that military epistemology is competitive, and our failure or inability to direct research funds without military priorities, to competitive advantage.
I expect this will be corrected rather shortly (and painfully) one way or the other.