Insanity. He calculated it out to 1166 per work-hour.
Source:
http://www.youtube.com/watch?v=NwWoY3OuBYA at 15:00
"Insanity. He calculated it out to 1166 per work-hour."
How is that possible? This would imply that he only had to work for 4 hours 38 days of the year... If that's really the case then sign me up....
He said a total workload of about 150 hours per year.
There's a lot of survivalship bias in such an evaluation. (I haven't seen the whole video though)
Not every scumbag that gets a PhD in economics ends up being a full professor at a top University.
But even for such a professor, $175K seems too much...
These ridiculous salaries are probably due to government subsidies, direct or indirect.
I wanna do what he does.
If I had a cake and ate it, it can be concluded that I do not have it anymore. HHH
ToxicAssets:Not every scumbag that gets a PhD in economics ends up being a full professor at a top University.
True that. Since I've been watching the first season, the first name that comes to mind is Buster Bluth from Arrested Development. This guy has two PhDs, one in cartography, and panics under pressure into thinking that blue areas on the map represent land (this is while they're on a boat).
"He said a total workload of about 150 hours per year."
My conclusion:
Econ PHD's are OP and the admin government needs to nerf them.
I'm willing to bet that a large chunk of that money is not from his salary as a professor. I'm sure Block is a full professor and so I'd put his salary in between $100,000 and 110,000. But, even this might be a lot, given the university he teaches at. The average professor makes somewhere between $70,000 and $100,000 (depending on type of professorship and years in service). The rest of Block's income is made by alternative means: book royalties, lectures, et cetera.
Btw, if an econ PhD is after the money, being a professor isn't the way to go.
Anybody care to translate? hahaha
What's wrong with him earning lots of money? I don't like his politics, but don't begrudge him for being lucky enough to have a well-paid job.
No one cares what you think about his politics, Consumariat.
Well that was rather rude in my opinion...
What's wrong with him earning lots of money?
If it's taxpayer's money "earning" lots could make you into a net tax recipient. As a net tax recipient he'd be eligible for giving up the difference to a net tax payer on demand.
And accurate.
Clearly you do. Else why reply in such a weird, grumpy manner?
"And accurate"
But absolutely unnecessary and unappreciated.
Consumariat is not a troll, guys. He may disagree with us, but he generally remains cordial and doesn't spam the boards. I think he deserves some respect for his behavior while being a lamb in a den of wolves.
No. Disagreement means that we're allowed to be major assholes to the dissenter.
Quite right, Neodoxy. After all, wolves eat lambs.
Implying we all want him in our mouths?
Besides landing one’s self a spot as Ambassador, Academia is as good (monetarily speaking) as one can manage.
Good for Walter Block. I'm happy for him. Seriously, do you prefer him making less than random socialist bureaucrats?
Well it was appreciated by me, I thought it was a fun remark. Besides I don't think people should have thin skins like that, you can't begruge someone saying something that isn't wrong.
thelion: Good for Walter Block. I'm happy for him. Seriously, do you prefer him making less than random socialist bureaucrats?
The thing is that his salary is probably some incidental cost of the level set to the general salaries given to big shot academics.
And these big shots in academia are usually mouthpieces for a big bureaucratic government that directly or indirectly enhances their paychecks.
To every Block, there are at least 10 Krugmans making much more money and getting much more notability them him.
But I'm not complaining, just pointing out a fact.
I said what I did because I spent hours drudging through a thread on welfare where Consumariat was calling us callous pricks (not in this language) for opposing redistribution.
Now he's here defending Block's 175k salary from criticism. He's an idiot and a hypocrite.
Is confiscating a portion of his wealth more or less severe than begrudgeing him? (more) Do you support taxing him? (yes) Okay, then you're a hypocrite who's only purpose in this post is to dissent. Once again, no one cares what you think of his politics.
My family makes 135000 but we only get like 55000 in real income after taxes.
But golly, sure glad that's the "price we pay for civilization" here in Canuckistan.
My family makes 135000 but we only get like 55000 in real income after taxes. But golly, sure glad that's the "price we pay for civilization" here in Canuckistan.
Where do you think the rest goes? It's not like Canada is so heavily populated/per square mile so the gov. isn't putting that $ in "internal improvements" (as if it could), and Canada doesn't have a military complex...
And why would people even work for six figures if it will be reduced to 5?
I said what I did because I spent hours drudging through a thread on welfare where Consumariat was calling us callous pricks (not in this language) for opposing redistribution. Now he's here defending Block's 175k salary from criticism. He's an idiot and a hypocrite. What's wrong with him earning lots of money? I don't like his politics, but don't begrudge him for being lucky enough to have a well-paid job. Is confiscating a portion of his wealth more or less severe than begrudgeing him? (more) Do you support taxing him? (yes) Okay, then you're a hypocrite who's only purpose in this post is to dissent. Once again, no one cares what you think of his politics.
I don't begrudge him earning lots of money, and I don't begrudge him earning more money than me. Neither do I oppose taxation on either of us. How you see any contradiction or hypocarcy in this I don't know.
You're right, there isn't necessarily hypocrisy. I don't know what I was on about and apologize, but you left a helluva bad taste in my mouth from that thread about welfare. I still don't get how you can defend his salary and at the same time want to confiscate it to redistribute to others. Maybe you don't begrudge his salary, but you obviously see some problem with it.
Thank you for your apology, and if I have pissed you off in the past with my approach, I also apologise. On the issue of his salary, it is not that I see a problem with it, it is that I believe we should have a basic safety net for those who fall on bad times. It is simply a matter of practicality that I support taxation on income as this is the only way I know that such a safety net can be provided. I do not wish to equalise incomes or punish people in any way for being rich. Far from it, I am glad that people are able to live comfortably and I hope that one day everyone will enjoy such opportunities. To repeat, I feel no animosity towards people on high incomes, I just see taxation as a practical response to the existence of excessive financial insecurity at the bottom.
Sorry if I'm being ignorant, but who is Walter Block?
To repeat, I feel no animosity towards people on high incomes, I just see taxation as a practical response to the existence of excessive financial insecurity at the bottom.
As a proletarian I take issue with your utterly reprehensible characterization of the working masses and our condition as "the bottom". In fact we represent the very best of society and it is the shameless parasites and idlers to whom you bear a striking resemblance who are the bottom. The moral, honor-less, wretched bottom that will burn in hell upon judgement day, or else find itself in front of a wall with blindfolds on, when we, as your betters have decided enough is enough. Do not bother apologizing either. There is no excuse.
Do take a lie down. There's a nice lad.
Compared to working in IT as a system admin that sounds great. I can work 1800 hours a year or 35 hours a week and only at a rate of $30-55 per hour. The difference is that there are far more jobs in IT than there are in economics.