A Neat Policy for Graduate Students
Via Marginal Revolution, apparently Harvard has a policy for Ph.D. students, which is that for every 5 graduate students in their eighth or higher years of a Ph.D. program, the department will lose a slot for new admits. This is a great idea! No Ph.D. student needs to take longer than 8 years, and this policy makes sure that professors are motivated to keep the pipeline flowing instead of simply accumulating students.