If you’re really interested in economics, should you get a Ph.D.?

No, argues Arnold Kling here.

He explains that once a student has taken the foundational undergrad courses, there is little to be gained by piling on more courses, ultimately earning a doctorate. You’ll learn more by doing a lot of reading in the subject. For some work, having the terminal degree is essential (as it was for Kling), but otherwise, don’t go to the expense.

I think that’s excellent advice — and not just for economics.

Hat tip: Don Boudreaux