Why is it that people are concerned about the cost of higher education, but state schools are paying football coaches ~$5M+ and Ohio State University had 1200+ people making over $200k (with clinical professors making just shy of $1M, and even economists making almost $400k!)?*
Why is it that we’re concerned with producer’s salaries and yet little concern over Hillary Clinton making $16M in 2014 (primarily from speaking)? What was it that she produced?
Why is it that the people with the most to lose by paying CEOs too much (the shareholder), who have the highest incentive to monitor performance, are not considered wise enough to determine CEO pay? Yet people with almost no knowledge of business (politicians), who have demonstrably shown they are incapable of managing other peoples’ money, are seriously considered as able to arbitrate salaries?
Aren’t you curious? Part of the answer is found in how you answer this question: Is income distributed or is it produced? I await your wisdom in the comments.
HT to Thomas Sowell, for his years of economic wisdom
*Don’t worry CU student readers; we’re not squandering your money this way!