IS THERE A PH.D. GLUT IN ECONOMICS IN ACADEMIA?

Abstract

The academic market for Ph.D. economists in academia works like any other semi heavily regulated market with a large element of government ownership and with large time lags in supply: there are shortages and surpluses, but these tend to be self correcting, with enough time allowed for adjustments. Contrary to the claims of some, there is no such thing as a chronic glut.oversupply; academic market; market process; glut; Austrian economics