Economics 101: Comparative Worth | SterlingTerrell.net

Economics 101: Comparative Worth

What is comparative worth?

Comparative Worth is a concept of labor economics that says comparable jobs should be paid the same wage.

The issue here is defining the word "comparable."

For instance, is an aerospace engineer with a graduate degree, and 20 years of experience worth exactly the same as a kindergarten teacher with the same education and experience?

Most (honest) economist believe the market is the best place to set prices, including wages.