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Because teacher salaries, like the salaries of people here, should be determined by the market not by warm and fuzzy feelings.

Loughla 4y ago
Okay then. What is the market value of a well-educated society?
paulryanrogers 4y ago
Market solves everything! Like that train derailment in Ohio! Certainly no need for a collective organization to step in to oversee clean up or preventative measures in the future.
Zetice 4y ago
The market is too cruel to be left to take care of America's children.
mempko 4y ago
Why? the market has huge flaws. For example, most money is held by a very small amount of people. Should the market solve for them or for the vast number of people? The market has externalities, which is a huge flaw in pricing things. This is a known studied problem with markets. Third, it's one of many optimization processes. If you understand machine learning, you understand that there are different models, different solution spaces, and optimizations (learning) on them requires different techniques. Why should we rely on a highly flawed optimization process like the market to decide these important things in society? Democratic and consensus building is another way to come to these complex decisions without relying on 'spot trade' and pricing restrictions that the market has. "The Market" is a technology. Thinking the market solves everything is like saying vacuum-tubes should be used in all electronics. Like, have you ever wondered why, at your work place, there aren't markets? Why don't most large successful companies have market dynamics internally if the market solves all organizational issues?
teucris 4y ago
The market has plenty of evidence that better education leads to significant economic benefit[0]. Specifically, high quality education, which requires highly trained teachers, leads to higher economic growth (0.63 percentage points per half of a standard deviation of test scores, normalized against other factors) 0: https://www.educationnext.org/education-and-economic-growth/ https://www.educationnext.org/education-and-economic-growth/
- bluedino 4y ago
  If it was easy enough to create better education by simply paying teachers more, we wouldn't be having this conversation.
  - teucris 4y ago
    Surprisingly, there’s evidence that paying teachers more does lead to better teachers. It makes the jobs more competitive, causing an increase in the qualifications and expertise needed to land a job.

Loughla 4y ago

Okay then. What is the market value of a well-educated society?

paulryanrogers 4y ago

Market solves everything! Like that train derailment in Ohio! Certainly no need for a collective organization to step in to oversee clean up or preventative measures in the future.

Zetice 4y ago

The market is too cruel to be left to take care of America's children.

mempko 4y ago

Why? the market has huge flaws. For example, most money is held by a very small amount of people. Should the market solve for them or for the vast number of people? The market has externalities, which is a huge flaw in pricing things. This is a known studied problem with markets. Third, it's one of many optimization processes. If you understand machine learning, you understand that there are different models, different solution spaces, and optimizations (learning) on them requires different techniques. Why should we rely on a highly flawed optimization process like the market to decide these important things in society? Democratic and consensus building is another way to come to these complex decisions without relying on 'spot trade' and pricing restrictions that the market has. "The Market" is a technology. Thinking the market solves everything is like saying vacuum-tubes should be used in all electronics. Like, have you ever wondered why, at your work place, there aren't markets? Why don't most large successful companies have market dynamics internally if the market solves all organizational issues?

teucris 4y ago

The market has plenty of evidence that better education leads to significant economic benefit[0]. Specifically, high quality education, which requires highly trained teachers, leads to higher economic growth (0.63 percentage points per half of a standard deviation of test scores, normalized against other factors) 0: https://www.educationnext.org/education-and-economic-growth/ https://www.educationnext.org/education-and-economic-growth/

bluedino 4y ago
If it was easy enough to create better education by simply paying teachers more, we wouldn't be having this conversation.
- teucris 4y ago
  Surprisingly, there’s evidence that paying teachers more does lead to better teachers. It makes the jobs more competitive, causing an increase in the qualifications and expertise needed to land a job.