<p>Furthermore, your argument regarding finance professors is completely flawed. The only point you are proving is that Chicago, Harvard, and MIT’s PhD programs in economics are extremely good, which I think just about everybody on CC recognizes. Wharton is renowned for its eminence as a BUSINESS SCHOOL; that is, producer of MBAs. Not PhDs. Obviously these people in academia are more likely to have pursued PhDs than any other degree. So the finance faculty consisting of one person who got his PhD from Wharton, as opposed to twelve who got their PhDs from Chicago, isn’t proving anything.</p>