> So in effect, the grad students would get advanced degrees in the hard sciences and take that knowledge back home with them, whereas the U.S. students would get a B.S. in literature, advertising, or business (generalizing of course).
One could argue that the US students are simply more rational actors and perceive the fact that a PhD has no economic value.
One could argue that the US students are simply more rational actors and perceive the fact that a PhD has no economic value.