I.M. Broke, Ph.D.

Economics blogger Mike Mandel finds that 35 percent of college graduates have a degree beyond the B.A., up from 32.7 percent in 1999. Yet the growth, he finds, is at the masters and professional level: the proportion of workers with Ph.D’s has been declining since 2004 and is now under 4.5 percent.

Even more discouraging is the finding that the change in real mean earnings for those with Ph.Ds has dropped by 10 percent since 1999.

As Mandel says, “That’s not what you would expect in an innovation-driven economy.”

(Via: Braniac )