Quote: (11-27-2011 01:29 PM)Samseau Wrote:
The university research system of publishing work in reference to other papers is the reason why the university system today has produced so little of value.
Our universities do not promote creativity or innovation. They only reward the status quo and only stagnation results.
The PhD is a joke because the people who employ PhD's are jokes. The next major scientific/philosophic breakthroughs to come forward will not be from the university, but from people's private homes or businesses.
This displays little perspective. One generation ago, finance professionals thought stock returns were predictable based on patterns or ratios. Academics developed the efficient market theory, portfolio theory, and option theory. Now we have index funds, risk management, and a rich derivatives market supported by this academic work.
The internet came from academic research. Of course some important developments occurred outside academia. The transistor and public key cryptography come to mind. Also, the muppets. But I'm not sure those examples help your argument.