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Most labor markets are local. That doesn’t mean that there isn’t a small elite at the top which plays by different rules. </p>
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Really? Mine started discouraging students from their first year on campus. “Got a B in gen chem? You might not survive medical school, on the off chance that you’d get accepted at all…” Well, not literally, but in the same spirit. It’s not clear to me to what extent that’s good advising and to what extent it’s protecting institutional statistics.</p>