But colleges are so....politically correct. How can they be exploitative? They're leftist, for goodness sakes.
But none of this lets academe off the hook. For one thing, the universities contribute to a glut of Ph.D.s by admitting students who take out loans (some 40% of the $1 trillion in student debt is for graduate school) even when they know few will ever work as full professors. By admitting them into graduate programs, the schools in effect are producing for themselves a low-paid work force.
“To put it crudely, they are hiring their own serfs,” says Richard Vedder, an Ohio University economist who runs the Center for College Affordability and Productivity. He says it’s “as much a moral issue as an economic one.” A university truly devoted to the well-being of its students would be more honest to grad students about the dismal job prospects for Ph.D.s—and more candid to undergrads about their actual instructors.
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