dzd@cosivax.UUCP (Dean Douthat) (08/01/85)
In message <2270@uvacs.UUCP> >This points up a standard problem with EPFWOEV - namely, if the market is >not the way to set a value on some profession, what is? Some feel it should >be according to the amount of training required to master the profession, >some think it should be the rarity of the ability required >(i.e. artistic or athletic talent), some think it should be according to >how risky or how unpleasant the tasks involved. Many, of course, think it >should be some mixture of the above, but just which ones - what *precise* >mixture? If you can't even agree on the relative worth of Whoppersloppers >and garbage-collectors, how can you ever hope to agree on, say, junior >executive accountants and senior-lead-programmer-analysts? > >sandy >decvax!mcnc!ncsu!uvacs!slb While I agree completely with sandy here, I believe some people find the concept of *the market* setting values to be too abstract, cold and mechanistic for comfort. That is why I proposed the analogy of bookmaking in an earlier posting. Bettors on the underdog have just as much influence on the point spread as bettors on the favorite [and no more]. The point I want to stress is that the `bookie' method of establishing wages for each job [and, proportionately, comparability between their worths] not only works but is the most broadly based [democratic] method. It is a consensus of the *entire qualified population* of a region, that is, both those who apply for a job and *those who don't* since not applying is also a judgement on the value or worth of the offered job/wage combination. In particular, if too many don't apply [too few do apply] the offered wage must rise to fill the openings. Also notice that the specific reasons that people do or don't want a given job for a given wage are relevant only in their aggregate effect. Some may think the work hard, dirty, dangerous; others may take it as a lark. Only the aggregate consensus opinion matters. As in the case of bookies, employers' opinions on job worth count for nothing. -- Dean Z. Douthat ______________________________________________________________________________ I have no connection with COSI except as a guest on their local network ______________________________________________________________________________ Only intelligent entities *can* communicate Only intelligent entities *need to* communicate