[paulpauper]

Academia produces thousands and thousands of adjuncts working far below the average American wage. To get to that stage you must spend five to eight years laboring as a graduate student, again working under the average wage. Only a fraction of those who go through this experience end up securing a stable university job because of it.

Maybe 10+ years ago the situation was so bleak, not nowadays you see tons of otherwise no-name academics, of all areas whether it's science , math, sociology, political science, or economics, carving out niches online, such as substacks, twitter, podcasts, YouTube lectures (like 3blue 1 brown), selling books on Amazon, fundraising, etc. It's not like your options are only limited to teaching at a university. One of the hidden benefits of academia , even if the pay sucks, is you get branding power, which you typically do not see with other professions. Noah Smith, for example, was something of a failed academic but now runs a hugely popular econ Substack blog.