Are University Professors overpaid?

[Baobab]

9. The imminent globalization of these industries will probably mean wages will soonreflectglobal norms

When university chains can move their employees around the world at will (soon) the wages in any country will likely reflect global norms more than past practice. For example, say an full professor here makes $100k a year and the global average is around $25k The equilibrium point may be around $35-40k since the population of the rich countries is not as large as that of the poorer countries. Eventually the wages in a great many fields will equalize out at a much lower level than they are today and corporations will have a level playing field, heir contracts will be based on what they can deliver and not on where they are, wages will be based on objective and verifiable criteria such as degrees earned and not on location.

These changes which have been in the pipeline for quite a while being worked out, will also make the education (medicine, law, IT) industries far more profitable.