Answer to Question #81436 in Microeconomics for Preet

Question

Does the fact that garbage men make more money than the average high school teacher mean that society values garbage removal more than education? If not, what does it mean ?

Answer 1

There are some dirty jobs that earn one more than the so called decent jobs in the society. Therefore, when it comes to the type of job and the amount that a person earns, what people look at is the status in the society. The garbage removal job does not give one high rank status like that of a teacher. Nonetheless, if the garbage remover is able to manage the job well and become rich out of the venture, he might as well be in the same social status as the teacher. All in all, a garbage removal job will not be valued by the society more than a teaching job.