A Ph.D requires knowledge, intellect, hard work, the ability to research something hitherto unknown to general knowledge and present those findings in a manner acceptable to some of the finest minds in academe, also to defend them orally in a viva voce. When asked why I did not progress to a doctorate I replied that I just couldn't be bothered with all the hassle. It is a reward well earned, although it is considered very bad form to use the title Dr. outside of the university or other academic institution.
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