I don't think reducing salaries will have any effect on the caliber of academics. There are a ton of graduate students, postdocs, and research scientists glad t

I don't think reducing salaries will have any effect on the caliber of academics. There are a ton of graduate students, postdocs, and research scientists glad to work for less. Most are just as qualified as the faculty who supervise them. Likewise, the quality at faculty at elite schools and state schools is identical; the key difference in research output comes from access to resources. Money isn't everything that motivates people. And you want to get exactly the kinds of people who are motivated by curiosity, not power and prestige. The salary needs to be enough to live on without financial stress. On the other hand, it doesn't need to guarantee anything beyond cafeteria-grade food, basic housing, and a beat-up old car. Benefits are important too. Things like university medical, insurance, and retirement policies reduce the risk profile. Academics shouldn't be distracted or stressed by financial constraints, but neither should they be motivated by them.