Topic: The Prices of Labour. - page 4. (Read 726 times)

I don't know about other countries, but in Indonesia a professor seems to have a decent life thanks to the fairly large salary and allowances they receive. Because a professor is quite respected in my country. But maybe it will also depend on what professor the person is in. Because different areas of expertise also allow for different salaries to be set.
So maybe there are some fields that have low salaries, even for professors. But what I see in my country is that professors always have a decent life and many even have quite high wealth. Because professorships in some fields may also be quite rare in Indonesia, the value can be seen from there.

The information that led to your conclusion is too small to be debated upon. It's possible that's his car or not his. it's also possible that his income is high but his responsibility is too much and he can't possibly meet up with those responsibilities and still get a luxurious car.

Some persons are too business minded that they often don't take things like fancy cars seriously and although there car might not be all that fashionable, there investment and savings can save your flat ass from that shitty situation that brought you under that mango tree. But again, we can't deny the fact that most lecturers are under paid and the ones that have high moral standard and that wouldn't want to extort money from student would normally not leave the kind of life you would normally expect someone of their caliber to live but i still feel that anyone that has that mental capacity that will put him in a position to become a prof should have figured his financially life out such that basic things wont necessarily be his problem.

The varying pay rates and fixed allowances for professors across different countries underscore the importance of considering the context in which someone works. Well, you shouldn't make assumptions about someone's financial situation without understanding the full picture. Factors such as family obligations, lifestyle choices, and current circumstances can significantly impact an individual's financial well-being.Moreover, many individuals face challenges early in life that set them on a difficult financial path. Whether it's unexpected expenses or accumulated debts, these obstacles can shape how someone manages their finances and strives to attain assets.

As a person, when viewing life sometimes, there are moments when prioritizing social harmony over personal status can lead to valuable opportunities for learning and support from others. For instance, the willingness of the professor to seek assistance with his car exemplifies the humility necessary for genuine connection and cooperation.It's not uncommon for individuals to struggle with maintaining humility and empathy once they achieve a certain level of success or status. 

You can't really judge like that, what if the professor gets huge inheritance from his parents? what if he has many businesses and working in the university is just like a part time job?

The real rich will spend their money to buy everything they like because they know their income is way more higher than their spending.

Why did Elon Musk spent $72 Million to buy a big house? he can live comfortable in small house because the purpose of house is same, only the size is different.

Let's imagine someone has $100 Million net worth, he's rich right? he can afford to buy lambo, but he keep thinking it's better for him to invest the money. While Elon Musk has $188 Billion net worth, buying one lambo won't hurt him.

if you think someone's income is measured by the car they drive, you would be incorrect

many people with flashy cars are in debt to the car dealerships lease agreement. they dont have positive net-worth

the smart people realise they should not waste money on a car because car value depreciates minutes after driving out of the dealership, and every 6 months there after

the smart people buy a rust-bucket that is of no consequence, that just gets them to work and home..
where by they can just buy another rust-bucket of a car for just the equivalent of a few months of what would have been a lease agreement..
the smart people saving by not having lease agreements, then throw that extra money into investing = positive net-worth

math
us minimum wage $2600 a month
us minimum new car lease $520 a month

meaning a leased new car is like 20%+ of someones wage at minimum.. for like $18k in 3 years
people are locked into DEBT lease for 3 years

yet they can buy outright a basic 'get to work' rust-bucket using just 6 months equivalent of lease($3k), but as cash where it should last 3 years, where they then have saved 6x the cost of getting to work, and having no debt

paying ~$3120 for a car for 3 years instead of $18k for 3 years. means $15k then goes to investing instead of some dealerships pocket
smart people(like professors) dont waste money on depreciating assets like flashy cars or flashy dress/suits

so dont base someones income/wealth on what they drive or wear.. reality is those being flashy are flushing their wealth away

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its also worth noting the education system has a tier of income/salary
someone working in kindergardens would be recipients of minwage
primary/k-12 would be in receipt of a level higher
secondary/highschool (public funded/state funded) next level up
college next level up
university next level up

so a university professor is not on min wage but several levels higher of income compared to a toddlers nursery/kindergarden

Forthnight ago, I sat down under a mango tree whose blossoming flowers are promising to humanity and birds. It gave a complete relaxation to me which enhanced a moment of reflections over events and nature around.
Barely an hour, two birds most probably male and female arrived to have their launch on the nectar of the flowers. Their arrival was heralded with a peculiar song that seemed esoteric, but it's lyrics was a lullaby to me.
Suddenly, there appeared in the scene a dramatic event. Three men were pushing an unkempt brand old Passat car towards me to be kept under the mango tree. It broke down complete while it was on it's way to the city. It is a property of a university Professor of Political science. In fact, the Professor was among the three men who were pushing the car.
Then, my reflection moved to the circumstances around the Professor. How much is the monthly salary of a Professor and other related allowances as are accrued to them in the midst of plenty. In fact, there monthly take home is meagre and is better imagined than experienced.
Is there Prices determined by the market mechanisms of demand and supply or by an authocratic Fiat of the government, thus what must be done to effect justice on this serious matter.
I would want the public in this forum to contribute.