In this study, the numbers of earned PhDs in various countries were analyzed with macroeconomic indicators. We found out a linear relationship between the number of earned PhDs and GDP. However, Japanese value is far less than this trend. With cluster analysis, the countries were divided into 7 clusters. Comparing to the countries in the same group, who are developed economies with huge manufacturing and service industries, Japanese value is once again smaller. Historical data showed that Japanese value has already been saturated in relatively lower level comparing to the countries like Germany, UK or Korea. All analysis showed that Japanese value is significantly less than other countries. This must be further analyzed and we should take measures if needed.
