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This is exactly how market works: when there is an oversupply of X the price of X drops and X suppliers move on to something more profitable.
by pandaman 11y ago
This is exactly how market works: when there is an oversupply of X the price of X drops and X suppliers move on to something more profitable.
- bahador 11y agoBut education shouldn't be an industry, especially in public institutions.
- johan_larson 11y agoIf people were fully rational, sure. But they're not. Record companies have been treating musicians like crap for at least a lifetime now, and there are still people dreaming of record contracts. Will the academic job market be different? Let's hope so. An early sign of it would be dropping application rates to grad school programs, particularly the less prestigious ones.
- pandaman 11y ago"Fully rational" in this case means "want to sell high and buy low". It's a very low bar to clear, especially in the job market for PhDs. >Record companies have been treating musicians like crap for at least a lifetime now, and there are still people dreaming of record contracts. If I understood you correctly, you are implying that musicians have better options than signing with labels and are acting irrationally by doing so? I disagree.