As a grad student back then, I saw a pyramid scheme. Training programs were (and are) funding way more students than there is room at the top. If funding at the top level stops expanding, the current scenario unfolds.
If I have undergrads in my lab who want to go on to graduate school, I give them sufficient information on these numbers that they can provide "informed consent". If they still want to go ahead, they receive my full support.
As a grad student back then, I saw a pyramid scheme. Training programs were (and are) funding way more students than there is room at the top. If funding at the top level stops expanding, the current scenario unfolds.
If I have undergrads in my lab who want to go on to graduate school, I give them sufficient information on these numbers that they can provide "informed consent". If they still want to go ahead, they receive my full support.