Income Inequity Institute to pay inequity type salary

[Genx87]

http://gawker.com/income-inequality-institute-will-pay-paul-krugman-25-0-1563245534

Nothing says we believe income inequity is a problem like paying somebody 250,000 dollars for 9 months worth of work. I thought it was an Onion article at first.

 

[nehalem256]

About that. According to a formal offer letter obtained under New York’s Freedom of Information Law, CUNY intends to pay Krugman $225,000, or $25,000 per month (over two semesters), to “play a modest role in our public events” and “contribute to the build-up” of a new “inequality initiative.” It is not clear, and neither CUNY nor Krugman was able to explain, what “contribute to the build-up” entails.

It’s certainly not teaching. “You will not be expected to teach or supervise students,” the letter informs Professor Krugman, who replies: “I admit that I had to read it several times to be clear ... it’s remarkably generous.” (After his first year, Krugman will be required to host a single seminar.)

It seems like "work" should probably be in quotes given the relative lack of actual work being performed to earn the salary.

 

[fskimospy]

http://gawker.com/income-inequality-institute-will-pay-paul-krugman-25-0-1563245534

Nothing says we believe income inequity is a problem like paying somebody 250,000 dollars for 9 months worth of work. I thought it was an Onion article at first.

The average professor salary at CUNY is about $130k, and so he's getting about twice that. Considering that he is a world renowned talent, one of the most famous economists alive and a nobel laureate, my guess would be that he can easily command much more money than that if he wanted to.

Also, if you read his writing you'll see that he focuses how the issue of income inequality is not the 1%, it's the 0.1%.

 

[Newell Steamer]

CEOs pull in millions, based on what they negotiated; not a problem, it's what he/she was able to negotiate,... you liberal asshat.

Contractor pulls in a couple of hundred thousand dollars; GGGLLLLAARRRGG-FFFFFFFFPPPTT!!!

 

[fskimospy]

CEOs pull in millions, based on what they negotiated; not a problem, it's what he/she was able to negotiate,... you liberal asshat.

Contractor pulls in a couple of hundred thousand dollars; GGGLLLLAARRRGG-FFFFFFFFPPPTT!!!

Funny thing is that it looks likely that Krugman is actually taking a pay cut to take this position.

 

[Newell Steamer]

Funny thing is that it looks likely that Krugman is actually taking a pay cut to take this position.

B-b-b-but, why aren't the liberals screaming about this 6 digit figure (which to your point, is a pay cut), but are screaming about the 7 to 9 digit figures of CEO salaries?!?!

It's like screaming at a single individual poor child for throwing out part of his/her government funded lunch (which that single lunch probably costs under $10), but, turning a blind eye to the millions of dollars in corporate subsidies taken by profitable companies - where said profits are in the billions.

It makes perfect sense really.

Just like the cops go nuts over small offenses, these same wealth ass lickers go nuts over the small government waste.

 

[fskimospy]

B-b-b-but, why aren't the liberals screaming about this 6 digit figure (which to your point, is a pay cut), but are screaming about the 7 to 9 digit figures of CEO salaries?!?!

It's like screaming at a single individual poor child for throwing out part of his/her government funded lunch (which that single lunch probably costs under $10), but, turning a blind eye to the millions of dollars in corporate subsidies taken by profitable companies - where said profits are in the billions.

It makes perfect sense really.

Just like the cops go nuts over small offenses, these same wealth ass lickers go nuts over the small government waste.

I think the argument would be that he was acting hypocritical, but I don't see how anyone who has actually read his work would think that.

 

[Genx87]

CEOs pull in millions, based on what they negotiated; not a problem, it's what he/she was able to negotiate,... you liberal asshat.

Contractor pulls in a couple of hundred thousand dollars; GGGLLLLAARRRGG-FFFFFFFFPPPTT!!!

Oh I dont care what he is paid. I found it amusing an institute dedicated to income inequity is paying Krugman 7 times the median income of the area for 9 months worth of work.

 

[HOSED]

I may add man or witz on the the end of my name, find "that" religion and become wealthy quickly http://www.jewornotjew.com/profile.jsp?ID=395

 

[fskimospy]

Oh I dont care what he is paid. I found it amusing an institute dedicated to income inequity is paying Krugman 7 times the median income of the area for 9 months worth of work.

What do you think an appropriate salary would have been for one of the most prestigious economists in the world?

 

[Genx87]

I think the argument would be that he was acting hypocritical, but I don't see how anyone who has actually read his work would think that.

If I were calling anybody a hypocrite. It wouldn't be Krugman.

 

[fskimospy]

If I were calling anybody a hypocrite. It wouldn't be Krugman.

I really don't get the issue here?

They are paying him a competitive salary for his ability to attract many times that amount of money in grants and other funding, along with (presumably) his ability to get top tier faculty to come work with him.

 

[Genx87]

What do you think an appropriate salary would have been for one of the most prestigious economists in the world?

If I were an institute dedicated to income equality? Certainly not twice as much as professors who do actual instruction. And if I want to set an example offer him the median wage for the area.

 

[nehalem256]

I really don't get the issue here?

They are paying him a competitive salary for his ability to attract many times that amount of money in grants and other funding, along with (presumably) his ability to get top tier faculty to come work with him.

That seems startling similar to the argument used to pay CEOs millions of dollars

 

[fskimospy]

If I were an institute dedicated to income equality? Certainly not twice as much as professors who do actual instruction. And if I want to set an example offer him the median wage for the area.

What sense would that make though? First, the LISC does not advocate for everyone making the median wage, so that would be unnecessary. More importantly though, you seem to be saying that the LISC is being hypocritical if they offer competitive wages. To remain ideologically pure they have to only provide salaries that will prevent them from attracting good talent? What sense does that make?

 

[Genx87]

What sense would that make though? First, the LISC does not advocate for everyone making the median wage, so that would be unnecessary. More importantly though, you seem to be saying that the LISC is being hypocritical if they offer competitive wages. To remain ideologically pure they have to only provide salaries that will prevent them from attracting good talent? What sense does that make?

You mean not all talent is worth the same?

 

[Genx87]

That seems startling similar to the argument used to pay CEOs millions of dollars

 

[fskimospy]

You mean not all talent is worth the same?

Who has ever argued that? I certainly haven't nor has the LISC.

 

[theeedude]

250K for a Nobel Prize winning economist is "Inequity type salary?"
Yeah, OK, nice hit piece at Krugman.