Three years of hard work just to be called 'Dr' is silly.

To do a PhD is only to prove yourself that you can do something that would be hard for others to accomplish. It is to push your limits away. But I agree that it is stupid that people with a PhD are c onsidered better than experienced workers for managerial positions. Some people want to change things, but don't cover ur face, one day they will be in managerial positions and they will be on the other side believe me...

Very few PhDs are holding managerial positions.
Not a single CEO of fortune 500 companies has a phd.

So who are in the managerial positions? And what do PhDs do in industry?

The government knows that getting everyone going to university improves the overall productivity of the economy and increases the output, so its good from the political viewpoint- they can win more votes as people think they are boosting the economy . The downside as we all know is that this also increases inflation and reduces the starting salaries for the rest of us new graduates as we encounter more competition for jobs :0(

I'm not convinced about the "improves the overall productivity of the economy and increases the output" bit. Many fewer people will be working/paying taxes because they're at university. Students also have a less disposable income than those with professions (and they will do for years after completing because of their high debt and their relatively low earning power). Therefore, they can only spend less, hence cannot contribute to the health of the economy.

I can assure you that getting your phd so you can put Dr. before your name impresses you more than anyone else. In fact, most people you meet do not consider a person with a phd to be a "real" doctor.

Just a little reality check. It's not what's in front of your name that counts in America. It's how much money you earn.

I really don't think the government knows what it is doing. The 50% target is to impress voters I think if they can say they have improved access to higher education especially for those who would not unusally consider that route! What is really stupid is paying 16 year olds to stay at school!! That really isn't the purpose of education and what's the point if they are only staying to get the money? Great potential students they would make! It detracts from serious students who actually want to learn and get somewhere!

I also think Dr. sounds alot better than Mrs. but don't mind Miss. However I think you are really impressing yourself (by increasing your self-worthiness and self-esteem in some cases) and those around you by gaining their respect. It is also a good challenge for yourself and something you must want to do for yourself. That should be the value placed on a PhD but unfortunately that isn't always the case! I do think it is necessary to get anywhere in academia/scientific research these days, however not in the past when there were fewer degrees.