「the days of ever-rising wage premia for people with higher education were over」 「These days jobs that require only six or twelve months of vocational training -- paranursing@` carpentry@` household maintenance (a profession that has taken over much of the housework that used to be done by unpaid spouses)@` and so on -- pay nearly as much as one can expect to earn with a master's degree@` and more than one can expect to earn with a Ph.D..」
「teaching jobs are hard to find and pay a pittance in any case; and nobody makes money by selling books. If you want to devote yourself to scholarship@` there are now only three options (the same options that were available in the 19th century@` before the rise of institutionalized academic research). Like Charles Darwin@` you can be born rich@` and live off your inheritance. Like Alfred Wallace@` the less fortunate co-discoverer of evolution@` you can make your living doing something else@` and pursue research as a hobby. Or@` like many 19th-century scientists@` you can try to cash in on scholarly reputation by going on the paid lecture circuit. 」