The NY Times had a piece on the unemployment amongst PhDs. Frankly if one gets a PhD in Celtic languages one should assume that it would be difficult to support oneself with such a degree. In fact even English would be tough. A PhD in EE, Computer Sci, Chem E, Civil Engineering should be no problem. Some one wants those talents. Early Medieval History is not a the top of the current job lists.
The questions posed are threefold:
1. Who should take these degrees?
2. What is the duty of the Academy?
3. What is the responsibility of the student?
Frankly one should start with the first. Rather than asking a teenager what he wants to do when he/she grows up the proper question is what are you going to do to support yourself! That seems to be a missing question. If the student provides an answer of Celtic languages, then wish them well and send them packing. That is not a sane employment choice.
The Times states:
According to a 2011 National Science
Foundation survey, 35 percent of doctorate recipients — and 43 percent
of those in the humanities — had no commitment for employment at the
time of completion. Fewer than half of Ph.D.’s are expected to land
tenure-track jobs. And many voluntarily choose another path because they
want higher pay or more direct engagement with the world than
monographs and tenure committees seem to allow.
Though graduates have faced similar conditions for decades, the past few
years have seen a surge in efforts to connect Ph.D.’s with gratifying
employment outside academia and even to rethink the purpose of doctoral
education.
One should be surprised that employment is even that high. Now to the other two questions.
Who should take such degrees? Well if you are independently wealth and have no idea what to do with the money then go do whatever you want. But if the student is from middle class or lower class America then they have a responsibility to get a job, not be educated. Get a job, make money, and then get educated. That works. But adding tons of student debt does not.
As for the last question, the duty of the Academy, well they have left that behind ages ago. After all the Government provides the money so why do they care.
Thus a PhD is a step worth the effort, assuming one is even qualified, if and only if it leads to employment. No job, why waste the time.