Supply and demand in the knowledge market

August 27, 2012 at 7:03 pm Leave a comment

We came across this excellent article on the Black Hole blog.

It should come as no surprise that by increasing the supply of graduate students (and in turn post-doctoral fellows), we have arranged to produce more knowledge workers than we can employ, creating a labor-excess economy that keeps labor costs down and productivity high (How much is a scientist worth?) – but is this what we want? While advantageous in the short-term, there is little room for additional gains and a more efficient and productive system will need to be created if we wish to actualize research-based economic growth.

For more click here.

Entry filed under: Biotechnology News. Tags: .

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