Graduate school

Many of us university professors rather hope that some of our best students will follow in our footsteps, go to graduate school, and become professors themselves -- and tell stories in their senior seminars about Old What's Iz Face, the beloved and eccentric character who encouraged them on their way.

But does it make sense? Grad school can be expensive, it takes years out of your young life, and permanent jobs -- except for a brief period a long time ago -- are always in short supply.

Academic blogs have kicked this around a lot, but this post seems a really well-balanced take on the question.