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Just discovered this forum, I'm Finnish.
The Chicago system, giving all attention and funding to the "top" students is stupid in my opinion, since starving and handicapping the less favored will effectively ruin their careers!. And students seem to have just one year to impress the faculty!. It's all self-fulfilling!
For this system to work, we'd have to assume faculty evaluations are omniscient and perfect. It sounds arrogant and pretentious to me. We have a different culture here in Finland and I think I will not fit in.
Are all american Econ PhD programs like this?
I thought students were evaluated by the quality of their thesis...NOT! Helping some students more than others will bias the "thesis quality" measure.
They are famous and I am impressed by their reputation, and Nobel Prizes, but I'd like to make my own mind if they are as good as everybody says.
But for that, I would have to get a PhD first... It's a huge gamble. I think I'd better stay with what I know well.
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