… Has occurred to you, dear reader, that if college professors were as overpaid and underworked as these polemics suggest, the graduate programs would be swamped with lazy careerist local kids. [sic] Have I just described MBA programs at lesser-known institutions? Sorry. [emphasis original]
The meme that professors are overpaid and underworked goes back at least a generation or so.
And yet, in that time I taught in 4 Ph.D. programs (2 were state flagships, 2 were urban commuter schools, 3 were public and 1 was private) that produced bright and shiny new professors. Their programs were not full of lazy careerist local kids.
I have also taught in/around 7 MBA programs (and a smattering of specialized masters programs), and yes they do tend to be filled with lazy careerist local kids.
The latter pays the bills of the former. Perhaps if it paid better, professors wouldn’t feel so underpaid and overworked.