Academic demand is modeled in great detail.
Industrial demand is not. But I would argue that this is not the time for technical critiques. I think there is possibly an existing and certainly an impending crisis in doctoral education in this country. I think the greatest question that institutions now face is how to address this highly complex and potentially divisive issue in a way that yields an outcome that is fair to students, to faculty and to institutions, as well as productive for society. Let's start with the facts.