I agree that it's offensive, but it's also honest. If companies are going to pay MBAs more than they pay PhDs, then they should lose their right to claim that there's a "shortage" of PhD's!
In my opinion, MBAs are a commodity almost. PhDs may well be unique and irreplaceable (although not all). Note that Google founders were in a PhD track, not MBA.
Yer preachin' to the choir dude. But if you look at the starting salaries for MBAs, JDs, and Math PhD's (from top programs), the market signal clearly suggests that lawyers and MBAs are more valuable than PhDs.
Personally, I suspect this reflects cartel building and market coercion (lawyers), as well as the reality that finance people can earn large salaries without actually producing any wealth.
So personally, I do think that math/sci/engineering folks are often far more valuable than the MBA/JD folks, but I can't get behind any "shortage" argument until their pay reflects this.
