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Part of the problem in UK is we don’t pay students properly so PhDs are not attractive unless you have an independent source of money. There are many other problems too, of course.
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How do you define output though? That's a whole other thorny question.
Valid point. I tend to define output as number of tasks completed * perceived difficulty of task. But the capitalistic implications of output is terrible. I guess a better explanation is degree performance and ability to climb the corporate ladder aren’t well correlated.
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Right, but it could be that degree performance broadens someone's perspective, allowing them to make decisions that are better for society. e.g. Zuckerberg has high "output" but I wouldn't hold him up as an optimally productive member of society given his view of human nature
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Haha nice example! Obviously the "output" for a company vs for society are not the same, they are often anti-correlated; unfortunately the company one is currently more rewarded than the societal one. Hard to change unless states are given full control of salaries...
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