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The Collapse of the Econ PhD Job Market

For decades, a doctorate in economics was a golden ticket. It promised a path to tenure, or at worst, a lucrative role at a central bank, think tank, or tech firm.Not anymore.The economics job market is in freefall, and the profession’s own data proves it.Unlike most fields, economics has a bizarrely centralized hiring ritual. Once a year, in the fall, every employer posts openings at the same time. Every candidate applies at the same time. The entire profession runs through one clearinghouse: t...

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