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It's often said that the best companies do more than just survive a downturn; they also position themselves to thrive during the subsequent upturn by making investments that enable them to grow when the economy rebounds. The same strategy can be applied to your career.
Several times per semester an article gets forwarded around amongst the students in my PhD program with a message that is some variation of the following: Doctoral studies are pointless. Needless to say, these are depressing, discouraging reads for those of us already pursuing advanced degrees. I enjoy being a PhD student.