I have a PhD but I have given up on academic research because the publish or perish incentives (1) make it difficult to find a matching journal, (2) put way too much weight on impact factors, (3) result in a flood of phony (“open access”) journals, (4) result in too many papers for anyone to keep abreast of the research and (5) leave professors with no incentive to engage in public debates.
It’s therefore ironic that I have published a proposal — an auction market for academic papers (http://www.springerlink.com/content/2q80214867370564/) — to fix this problem and NOT ironic that no academics have bothered to consider it as a reform.
The academic world faces a collective action problem (those with the power to reform benefit from the current system), and there’s no solution in sight.