It is ridiculous if you associate pay with degree/profession, but it is not if you associate pay with the offer and demand equilibrium. If there are no revenues

It is ridiculous if you associate pay with degree/profession, but it is not if you associate pay with the offer and demand equilibrium. If there are no revenues to be taken or no demands for a professional, there’s no reason to pay them more. Degree does mean someone deserves to make more.