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by hackuser 3774 days ago
How much did Albert Einstein make compared to Babe Ruth? Why is the highest paid employee at most large public universities not the Nobel Prize winning scientist, but the football coach?

Even in theory, many conditions are required for free markets to function efficiently. Regardless, we don't live in a free market, and many other factors determine income.

1 comments

There were far fewer people willing to pay to see Einstein do what he did than to see Babe Ruth did what he did. Millions of people got regular satisfaction from watching Babe Ruth, which suggests more people valued what he did than they valued what Einstein did. Economically speaking the value an average person places on something is no less valid than the value an intellectual places on something, and there are a lot more average people than intellectuals.