Side note - if the article sounds uber-rational econ, it may be in part because the author is the son of Milton Friedman. Here is his first post on the topic. http://daviddfriedman.blogspot.com/2012/11/the-use-of-old-ex... There is a great quote at the end.

And, for a last comment ... . I like to say that being a professor is better than working for a living, except when grading exams. One reason is that grading exams is a pain. Another is that it is when you find out that you have not done nearly as good a job of teaching as you thought you had.