Why do wages for some jobs go up while others go down? Why do some jobs pay a lot more than others?
The barstool answers you get to those questions tend to emphasize factors such as how difficult, dangerous, or important a job is, how much education is necessary, etc. You tend to get moralistic answers in a lot of cases, answers that attempt to explain why highly paid people deserve to be highly paid.
But none of those answers is true. READ MORE