To put this in a historical perspective, Adam Smith's bitter comments on the fate of the academic still make sense today:
"But the usual reward of the eminent teacher bears no proportion to that of the lawyer or physician; because the trade of the one is crowded with indigent people who have been brought up to it at the public expence; whereas those of the other two are incumbered with very few who have not been educated at their own."
"But the usual reward of the eminent teacher bears no proportion to that of the lawyer or physician; because the trade of the one is crowded with indigent people who have been brought up to it at the public expence; whereas those of the other two are incumbered with very few who have not been educated at their own."
There's more at http://www.econlib.org/LIBRARY/Smith/smWN4.html