drunkphysics wrote:I've gotten at least two responses so far that indicate a smaller number of acceptances than previous years, one due to limited budget. Looks like in 10 years physics will be just another common major. which might not be a bad thing? except less pay. which is bad.
While you are right in that if schools feel that there are so many people interested in physics, they can get away with paying students less and they would still want to do physics, then sure, there will be less pay. But really, grad students now don't get paid that much anyways, so I don't think it will be a significant factor.
On the other hand, increased interest in physics is good for all of us. It might even mean more funding and public interest in physics so that the amount of money available to fund grad students grow with the increasing number of physics grad students. If not, then at some point, the low availability of funds will make people less interested in physics and the number of grad students might decrease again. I believe in the power of the market to balance things out