Why should we accept that the 'talent' of someone who writes jingles for an advertising agency advertising dog food and gets $100,000 a year is superior to the talent of an auto mechanic who makes $40,000 a year? Who is to say that Bill Gates works harder than the dishwasher in the restaurant he frequents, or that the CEO of a hospital who makes $400,000 a year works harder than the nurse or the orderly in that hospital who makes $30,000 a year? The president of Boston University makes $300,000 a year. Does he work harder than the man who cleans the offices of the university? Talent and hard work are qualitative factors which cannot be measured quantitatively.
About this quote
- What does it mean?
- Wages do not accurately reflect talent or effort; a jingle writer earning more than a mechanic does not prove superior value or work ethic.
- In plain terms
- Money doesn't show who works harder or is more talented; high pay doesn't mean better work.
- What can you take from it?
- Market value often disconnects from actual worth or effort.
Where it applies
Putting it to work
Questions to consider
- How should we measure worth?
- Why are some jobs paid more?
Another view
Market demand also determines wages regardless of effort.
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