Recession watch: Grad Schools are Pyramid Schemes

"Brazen Careerist", Penelope Trunk, has great advice on why it is a bad idea to think of grad school as a way to escape the recession. I particularly liked:

Applications to the military increase in a bad economy in a disturbingly similar way that applications to graduate school do. For the most part, both alternatives are bad. They limit your future in ways you can’t even imagine, and they are not likely to open the kind of doors you really want. Military is the terrible escape hatch for poor kids, and grad school is the terrible escape hatch for rich kids.

Another gem in that piece: "PhD programs are pyramid schemes". Awesome :-)