An article that describes the tough life of humanities Ph.D.s. A wonderful article to use in an introductory economics course to make two points.

1. You ignore market signals at your peril.

2. What are compensating differentials? Let a Ph.D. in comparative literature from Yale who's read a little economics tell you: "He refers to the 2001 book The Invisible Heart by feminist economist Nancy Folbre, which describes how the work that is most important to a society tends to be the most undervalued. 'Teachers, nurses, people who do things they really care about, get shafted.'"

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