The Antifragile Chaos Monkey
I don't understand: how are economics professors a legally protected guild?
What do you mean by "legally protected guild"?
Look at the tie-ins between accreditation, federal loans, and federal research money.I can go out tomorrow and say I am openeing a "university," but I won't be able to get a penny of federal research money or my students a penny in federal student loan money until the "guild" of existing accredited universities allows me in, and they won't do that unless the vast majority of my faculty have gone through a guild apprenticeship (aka "PhD program").Maybe "legally privileged" would be a bit more accurate here, but a "privilege" is a form of "protection," isn't it?
"Once men sang together round a table in chorus. Now one man sings alone, for the absurd reason that he can sing better. If scientific civilization goes on (which is most improbable) only one man will laugh, because he can laugh better than the rest." -ChestertonGoes to show things can always get worse. Now only one country makes anything for the absurd reason that they can do it more cheaply.