3 ms·
(good) teachers generate great value and positive externalities into the future, but are simply unable to capture that value generation because of the time fact
by clairity 5y ago
(good) teachers generate great value and positive externalities into the future, but are simply unable to capture that value generation because of the time factor. many teachers accept pride and esteem in lieu of economic gain, but they should get paid accordingly as well if we had a fair politicoeconomic system.
economics in general has no answer for this differential temporal factor in value creation vs value capture. it's all predicated on immediate, atomic transactions, although the concept of externalities at least acknowledges the issue.
- _0ffh 5y agoWhen parents can freely choose who schools their children, the ones that place a premium on how well they are schooled are free to invest relatively more than those who do not. This gap between value creation and value capture can be bridged by foresight.