Are PhDs entitled to tenured jobs? A deliberately controversial post

By Nicole and Maggie. We have argued before that academia is just a job.
We have marveled at how willingness to do math opens up a world of opportunities.  (Though not necessarily with a math PhD… but if you’re willing to do the same math as say, an engineer, you’re in better shape.  And hey, you can always take actuarial exams or maybe work for the NSA with that math degree.)
So… does the fact that you’ve suffered for 5-7 (or more!) years in a PhD program and gotten your hood and your diploma mean that you are entitled a tenure-track job?  What about your debt?  Your lost opportunity costs?  Are you entitled to compensation for that?
The fact is, there’s an excess supply of PhDs compared to the demand for tenure-track professors in most fields. More...