Institutions and relative incomes

Written by: A. Allan Schmid

Primary Source: The Troublesome Economist

Important insight by Robert Reich–

The myth is you get paid what you’re worth. Yet for many occupations it’s just the reverse: Pay is inversely related to the real benefits to society. Social work, teaching, nursing, and caring for the elderly or for children are among the lowest-paid of all professions, but the benefits to society are considerable. We desperately need these people.

Couldn’t say it any better.

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A. Allan Schmid
Alfred Allan Schmid, University Distinguished Professor Emeritus. Taught at MSU for 47 years in the Dept. of Agricultural, Food, Resource Economics. In addition to scholarly books, he more recently published a historical novel entitled "The Quest for Land and Fortune."
A. Allan Schmid

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