LOLHeritage.org.
"First, formal educational attainment, such as a degree acquired or years of education completed, is not a good proxy for the earnings potential of school teachers (because these facts are inconvenient to our wealthy, elitist donors)."
"The wage gap between teachers and non-teachers disappears when both groups are matched on an objective measure of cognitive ability (which costs nothing) rather than on years of education (which are outrageously expensive)."
"Using a model (that we made up out of thin air) to calculate the welfare value of job security, we find that job security for typical teachers is worth about an extra 1 percent of wages, rising to 8.6 percent when considering that extra job security protects a premium paid in terms of salaries and benefits."
"Public-school teachers earn higher wages than private-school teachers, even when the comparison is limited to secular schools with standard curriculums (although private-school credential requirements are typically lower than public schools, we're not going to mention this, because of aforementioned convenience issues)."
"Teachers who change to non-teaching jobs, on the other hand, see their wages decrease by roughly 3 percent. This is the opposite of what one would expect if teachers were underpaid, (although it would be the expected outcome if massive teacher layoffs were underway in a down economy that is producing few jobs outside the minimum-wage sector, mostly because government has been implementing too many ideas sponsored by the Heritage Foundation)."
