{"id":35970,"date":"2016-10-05T01:00:44","date_gmt":"2016-10-05T05:00:44","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=35970"},"modified":"2016-09-25T10:34:55","modified_gmt":"2016-09-25T14:34:55","slug":"qotd-why-professional-athletes-and-actors-get-paid-much-more-than-firefighters-and-teachers","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2016\/10\/05\/qotd-why-professional-athletes-and-actors-get-paid-much-more-than-firefighters-and-teachers\/","title":{"rendered":"QotD: Why professional athletes and actors get paid much more than firefighters and teachers"},"content":{"rendered":"

I agree that most people are troubled that the likes of Tom Brady and Jennifer Lawrence earn far higher pay than does any firefighter or school teacher. But this reality reflects not people\u2019s correct understanding of a failing economy but people\u2019s incorrect understanding of a successful economy. It reflects also a failure of economists to better teach basic economics to the general public. So let me ask: would you prefer to live in a world in which the number of people who can skillfully fight fires and teach children is large but the number of people who can skillfully play sports and act is very tiny, or in a world in which the number of people who can skillfully fight fires and teach children is very tiny but the number of people who can skillfully play sports and act is large?<\/p>\n

I\u2019m sure that you\u2019d much prefer to live in a world in which skills at fighting fires and teaching children are more abundant than are skills at playing sports and acting. Precisely because saving lives and teaching children are indeed far more important on the whole<\/em> than is entertainment, we are extraordinarily fortunate that the numbers of our fellow human beings who possess the skills and willingness to save lives and to teach children are much greater than are the numbers who can skillfully play sports and act.<\/p>\n

The lower pay of fire fighters and school teachers simply reflects the happy reality that we\u2019re blessed with a much larger supply of superb first-responders and educators than we are of superb jocks and thespians. Were it the other way around, then while we\u2019d be better entertained with more top-flight sporting events and movies, all but the richest amongst us would suffer significantly greater risks of being unable to educate our children and of dying in house fires and from other mishaps.<\/p>\n

Don Boudreaux, “Thinking At the Margin: It\u2019s Revolutionary”, Caf\u00e9 Hayek<\/em><\/a>, 2016-09-01.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

I agree that most people are troubled that the likes of Tom Brady and Jennifer Lawrence earn far higher pay than does any firefighter or school teacher. But this reality reflects not people\u2019s correct understanding of a failing economy but people\u2019s incorrect understanding of a successful economy. It reflects also a failure of economists to […]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,28,41,18],"tags":[1026],"class_list":["post-35970","post","type-post","status-publish","format-standard","hentry","category-economics","category-media","category-quotations","category-sports","tag-microeconomics"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-9ma","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/35970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=35970"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/35970\/revisions"}],"predecessor-version":[{"id":35971,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/35970\/revisions\/35971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=35970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=35970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=35970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}