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February 1, 2011 at 10:34 AM #661791February 1, 2011 at 10:37 AM #660660
CoronitaParticipant[quote=pri_dk][quote=andymajumder]If teacher salary was based purely on supply and demand, their salaries would be much lower.[/quote]
Exactly how does one quantify “demand” for a teacher?
The demand for any labor skill is ultimately based upon the expected return on investment.
Local company is considering developing a new cell phone. They need 20 engineers to do it. Estimate the manufacturing costs and the expected revenue, etc. and they can estimate how much they can pay the engineers and still make a profit.
The model for just about every job involving engineers is the same:Company makes an investment, in facilities, and labor, and company sees a direct financial return in a few years.
That’s what sets the market price for engineers.
Education has some very unique economic characteristics.
What’s the return on investment for teaching a 6 year-old kid how to read (it’s not zero, but what is it?)
When do we actually see that return?
Who realizes that return? (who benefits? – is it just the kid?)
The economic models for public education and private enterprise are very different.[/quote]
Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….
But but but…..wait…If we do that, than in theory there isn’t a difference between living in areas with “nicer public schools” versus elsewhere…Hmmm decisions, decisions…What are all the asian parents to do???? hmmmmm……Uh, never mind. Scratch that…We need some better public schools to keep up property values…. 🙁
February 1, 2011 at 10:37 AM #660723CoronitaParticipant[quote=pri_dk][quote=andymajumder]If teacher salary was based purely on supply and demand, their salaries would be much lower.[/quote]
Exactly how does one quantify “demand” for a teacher?
The demand for any labor skill is ultimately based upon the expected return on investment.
Local company is considering developing a new cell phone. They need 20 engineers to do it. Estimate the manufacturing costs and the expected revenue, etc. and they can estimate how much they can pay the engineers and still make a profit.
The model for just about every job involving engineers is the same:Company makes an investment, in facilities, and labor, and company sees a direct financial return in a few years.
That’s what sets the market price for engineers.
Education has some very unique economic characteristics.
What’s the return on investment for teaching a 6 year-old kid how to read (it’s not zero, but what is it?)
When do we actually see that return?
Who realizes that return? (who benefits? – is it just the kid?)
The economic models for public education and private enterprise are very different.[/quote]
Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….
But but but…..wait…If we do that, than in theory there isn’t a difference between living in areas with “nicer public schools” versus elsewhere…Hmmm decisions, decisions…What are all the asian parents to do???? hmmmmm……Uh, never mind. Scratch that…We need some better public schools to keep up property values…. 🙁
February 1, 2011 at 10:37 AM #661327CoronitaParticipant[quote=pri_dk][quote=andymajumder]If teacher salary was based purely on supply and demand, their salaries would be much lower.[/quote]
Exactly how does one quantify “demand” for a teacher?
The demand for any labor skill is ultimately based upon the expected return on investment.
Local company is considering developing a new cell phone. They need 20 engineers to do it. Estimate the manufacturing costs and the expected revenue, etc. and they can estimate how much they can pay the engineers and still make a profit.
The model for just about every job involving engineers is the same:Company makes an investment, in facilities, and labor, and company sees a direct financial return in a few years.
That’s what sets the market price for engineers.
Education has some very unique economic characteristics.
What’s the return on investment for teaching a 6 year-old kid how to read (it’s not zero, but what is it?)
When do we actually see that return?
Who realizes that return? (who benefits? – is it just the kid?)
The economic models for public education and private enterprise are very different.[/quote]
Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….
But but but…..wait…If we do that, than in theory there isn’t a difference between living in areas with “nicer public schools” versus elsewhere…Hmmm decisions, decisions…What are all the asian parents to do???? hmmmmm……Uh, never mind. Scratch that…We need some better public schools to keep up property values…. 🙁
February 1, 2011 at 10:37 AM #661465CoronitaParticipant[quote=pri_dk][quote=andymajumder]If teacher salary was based purely on supply and demand, their salaries would be much lower.[/quote]
Exactly how does one quantify “demand” for a teacher?
The demand for any labor skill is ultimately based upon the expected return on investment.
Local company is considering developing a new cell phone. They need 20 engineers to do it. Estimate the manufacturing costs and the expected revenue, etc. and they can estimate how much they can pay the engineers and still make a profit.
The model for just about every job involving engineers is the same:Company makes an investment, in facilities, and labor, and company sees a direct financial return in a few years.
That’s what sets the market price for engineers.
Education has some very unique economic characteristics.
What’s the return on investment for teaching a 6 year-old kid how to read (it’s not zero, but what is it?)
When do we actually see that return?
Who realizes that return? (who benefits? – is it just the kid?)
The economic models for public education and private enterprise are very different.[/quote]
Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….
But but but…..wait…If we do that, than in theory there isn’t a difference between living in areas with “nicer public schools” versus elsewhere…Hmmm decisions, decisions…What are all the asian parents to do???? hmmmmm……Uh, never mind. Scratch that…We need some better public schools to keep up property values…. 🙁
February 1, 2011 at 10:37 AM #661796CoronitaParticipant[quote=pri_dk][quote=andymajumder]If teacher salary was based purely on supply and demand, their salaries would be much lower.[/quote]
Exactly how does one quantify “demand” for a teacher?
The demand for any labor skill is ultimately based upon the expected return on investment.
Local company is considering developing a new cell phone. They need 20 engineers to do it. Estimate the manufacturing costs and the expected revenue, etc. and they can estimate how much they can pay the engineers and still make a profit.
The model for just about every job involving engineers is the same:Company makes an investment, in facilities, and labor, and company sees a direct financial return in a few years.
That’s what sets the market price for engineers.
Education has some very unique economic characteristics.
What’s the return on investment for teaching a 6 year-old kid how to read (it’s not zero, but what is it?)
When do we actually see that return?
Who realizes that return? (who benefits? – is it just the kid?)
The economic models for public education and private enterprise are very different.[/quote]
Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….
But but but…..wait…If we do that, than in theory there isn’t a difference between living in areas with “nicer public schools” versus elsewhere…Hmmm decisions, decisions…What are all the asian parents to do???? hmmmmm……Uh, never mind. Scratch that…We need some better public schools to keep up property values…. 🙁
February 1, 2011 at 10:39 AM #660665Djshakes
Participant[quote=permabear]Without raising taxes a good 20-30%, and laying off large amounts of public workers, I agree with flu that we’re more or less screwed.
Much of the American quality of life has been based on an unsustainable rate of population growth, combined with taking advantage of foreign resources and workers. Those wells are drying up.[/quote]
They raise the taxes that much they will crush the state. Again, this is the age old argument of increasing rates does not increase revenues. Increasing taxes that much will result in a mass exodus out of the state…more than is already happening. I would be one of them. Producers would leave, takers would stay, situation would be even worse.
Slash the rates, give the companies at least a shred of reason to stay (we have some of the most anti-business laws) and maybe we can actually produce something other than more bureaucracy and government employees that only take.
February 1, 2011 at 10:39 AM #660728Participant[quote=permabear]Without raising taxes a good 20-30%, and laying off large amounts of public workers, I agree with flu that we’re more or less screwed.
Much of the American quality of life has been based on an unsustainable rate of population growth, combined with taking advantage of foreign resources and workers. Those wells are drying up.[/quote]
They raise the taxes that much they will crush the state. Again, this is the age old argument of increasing rates does not increase revenues. Increasing taxes that much will result in a mass exodus out of the state…more than is already happening. I would be one of them. Producers would leave, takers would stay, situation would be even worse.
Slash the rates, give the companies at least a shred of reason to stay (we have some of the most anti-business laws) and maybe we can actually produce something other than more bureaucracy and government employees that only take.
February 1, 2011 at 10:39 AM #661332Participant[quote=permabear]Without raising taxes a good 20-30%, and laying off large amounts of public workers, I agree with flu that we’re more or less screwed.
Much of the American quality of life has been based on an unsustainable rate of population growth, combined with taking advantage of foreign resources and workers. Those wells are drying up.[/quote]
They raise the taxes that much they will crush the state. Again, this is the age old argument of increasing rates does not increase revenues. Increasing taxes that much will result in a mass exodus out of the state…more than is already happening. I would be one of them. Producers would leave, takers would stay, situation would be even worse.
Slash the rates, give the companies at least a shred of reason to stay (we have some of the most anti-business laws) and maybe we can actually produce something other than more bureaucracy and government employees that only take.
February 1, 2011 at 10:39 AM #661470Participant[quote=permabear]Without raising taxes a good 20-30%, and laying off large amounts of public workers, I agree with flu that we’re more or less screwed.
Much of the American quality of life has been based on an unsustainable rate of population growth, combined with taking advantage of foreign resources and workers. Those wells are drying up.[/quote]
They raise the taxes that much they will crush the state. Again, this is the age old argument of increasing rates does not increase revenues. Increasing taxes that much will result in a mass exodus out of the state…more than is already happening. I would be one of them. Producers would leave, takers would stay, situation would be even worse.
Slash the rates, give the companies at least a shred of reason to stay (we have some of the most anti-business laws) and maybe we can actually produce something other than more bureaucracy and government employees that only take.
February 1, 2011 at 10:39 AM #661801Participant[quote=permabear]Without raising taxes a good 20-30%, and laying off large amounts of public workers, I agree with flu that we’re more or less screwed.
Much of the American quality of life has been based on an unsustainable rate of population growth, combined with taking advantage of foreign resources and workers. Those wells are drying up.[/quote]
They raise the taxes that much they will crush the state. Again, this is the age old argument of increasing rates does not increase revenues. Increasing taxes that much will result in a mass exodus out of the state…more than is already happening. I would be one of them. Producers would leave, takers would stay, situation would be even worse.
Slash the rates, give the companies at least a shred of reason to stay (we have some of the most anti-business laws) and maybe we can actually produce something other than more bureaucracy and government employees that only take.
February 1, 2011 at 10:57 AM #660680Anonymous
Guest[quote=flu]Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….[/quote]
So then do we require everyone to go to school?
If parents don’t pay, their kids go illiterate?
No, I’m not proposing a solution – just pointing out that there are a lot of considerations to balance.
The notion of public education is relatively new in history – only about 100 years old. Before we propose going back to the “old” ways, we may want to look at some history.
February 1, 2011 at 10:57 AM #660743Guest[quote=flu]Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….[/quote]
So then do we require everyone to go to school?
If parents don’t pay, their kids go illiterate?
No, I’m not proposing a solution – just pointing out that there are a lot of considerations to balance.
The notion of public education is relatively new in history – only about 100 years old. Before we propose going back to the “old” ways, we may want to look at some history.
February 1, 2011 at 10:57 AM #661347Guest[quote=flu]Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….[/quote]
So then do we require everyone to go to school?
If parents don’t pay, their kids go illiterate?
No, I’m not proposing a solution – just pointing out that there are a lot of considerations to balance.
The notion of public education is relatively new in history – only about 100 years old. Before we propose going back to the “old” ways, we may want to look at some history.
February 1, 2011 at 10:57 AM #661485Guest[quote=flu]Well, then the solution to the budget problems is …. privatize the school system, so that we don’t have to pay for it from the public tax dollars….[/quote]
So then do we require everyone to go to school?
If parents don’t pay, their kids go illiterate?
No, I’m not proposing a solution – just pointing out that there are a lot of considerations to balance.
The notion of public education is relatively new in history – only about 100 years old. Before we propose going back to the “old” ways, we may want to look at some history.
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