83 karma · joined March 14, 2021
I am not sure if you are not trading "high human efficiency" against increased risk of blowing up at some point. Good luck doing forecasting without thorough understanding of priors and statistics in general.
By now, the good students and post-docs know what is going on: The system is already so broken that there is a high chance that you end up with a PI who got his job because he/she/* is good in making friends with some VIPs. For the actual research, that is what you are hired for. Have fun turning the "great vision" of these PIs into something that makes at least a bit of sense. And only if you are as well the type to make friends with VIPs, you will have a chance to tenure-track.
All this QE, aka money printing, can only be removed in a "nice" way if the additional liquidity is to a larger extend used to create additional value rather than consumption.
De facto, most of the liquidity is consumed without added value (Zombie companies, certain government expanses,...)
This can only work for a finite amount of time.