wrote :

"Anyone who asks me if they
should get a PhD in math, I ask them if they are crazy. If they are
crazy, that is totally obsessed with math, then maybe so. It is not an

entirely rhetorical question. All those other things, disdain for
nerds, lack of respect,..., are a consequence of the fundamental fact
that there is no demand.


When I got my PhD in 1962 there were about 250 PhDs in math a year.
But there was a large demand. Within just a couple years, the number
was pushing, then exceeding 1000/year and suddenly the demand was
filled and there were few jobs by, say, 1968 or 1969 and it has
remained that way since. "

....except that there will be a huge set of retirements nationwide in
the next few years.

It is not clear what the response from college administrators will be.
We have had far fewer qualified applicants in recent years, partly
because a Ph.D. in Math starts at about 40% of a Ph.D. in Finance or
Accounting. Go figure.