Accounting is considered the necessary evil for most business owners. Understanding small business finance is a must for any entrepreneur especially one at the helm of a enterprise running full steam ahead. The result is we spend way less on basic science than we have good smart people who would be willing to work in these areas, if they could get decent, non-brutal, jobs at comfortable middle class wages, or better to attract the top brains to the most important research. If the government dealt with the externalities commensurately, there would be far more money chasing the talent, and smart people would regularly have the bargaining power to not be brutalized, and to get good, or extraordinarily good, wages in the basic sciences.
I completed my PhD in Econ (well Applied Econ) last year at an unranked school, and had little trouble finding a good job. The academic job market wasn’t very receptive, but I received a fair amount of interest from different businesses, and ended up in risk management at a bank.… Read More