Does the Economics Department Rule Today's World?
Imagine that a university has two assistant-professor positions, one for a professor of environmental economics and another for a professor of hermeneutics. If the economist ends up with a higher salary, what would be the most reasonable explanation? A) the economist has skills desired by businesses, government, and nonprofits, forcing the university to offer a higher salary to compete with other employers while the hermeneuticist is, well, a hermeneuticist; or B) that economists have “leverage[d] their own expertise to claim that science itself dictated they receive higher salaries than their other colleagues in the liberal arts.”
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