"Most graduate programs in American universities produce a product for which there is no market and develop skills for which there is diminishing demand"

I also like:
"research and publication become more and more about less and less. Each academic becomes the trustee not of a branch of the sciences, but of limited knowledge that all too often is irrelevant for genuinely important problems. A colleague recently boasted to me that his best student was doing his dissertation on how the medieval theologian Duns Scotus used citations."
via: http://www.nytimes.com/2009/04/27/opinion/27taylor.html?_r=2&pagewanted=all via: http://twitter.com/venturehacks/statuses/1633036738