So, is this, at the end of the day, that the ratio of students willing to study graduate level studies, and jobs that require graduate level studies is dramatically imbalanced?
Sometimes, we as humans like to avoid the obvious discussion because it is the most uncomfortable discussion to have.
The truth is that we need more restrictions and an even higher bar on education that artificially pipes the best of the best in corresponding numbers to estimated availability of jobs in 4-5 years.
I am pretty sure that the medical world already does this.