The problem with not only PhDs but even the first levels of higher education is only one and it is universal: We see it from an economic perspective. A bachelo

The problem with not only PhDs but even the first levels of higher education is only one and it is universal: We see it from an economic perspective. A bachelors degree is good if it helps you do a masters degree. A masters degree is good if it improves your chances at finding a job. And then a PhD is good if it increases your expected salary. Well, I am sorry, but we shouldn't be complaining about "the PhD problem" then. If you do a PhD, do it to learn. Don't do it to find a job that will pay more.