[nobody314159]

So if everybody in the country had a masters degree people would all earn 2.5x as much?

Obviously an increase in PhD programs in french-fry frying would raise incomes even further.

[beej71]

The point is not to make money. The point is not to get a PhD. The point isn't even to get a degree.

The point, if you want a job, is to be competitive in a cutting edge field.

I'll start worrying about what happens when everyone has a Master's Degree when 20% of the population has a Master's Degree.