What makes time so valuable?
When people complain about how expensive their doctor is, they think in terms of the amount of time the doctor spent with the individual patient. They aren’t factoring in the years in medical school, the years in residency etc to get to that point.
When people complain about how expensive their attorney is, they don’t factor into things the years the attorney spent in law school.
People who are really good at what they do frequently make their jobs seems very easy. The part we often forget is the number of years those people spent preparing to be at the level they are now at.
This doesn’t mean that all compensation is based on preparation time. Many teachers have masters degrees but they aren’t necessarily compensated fairly for the time they spent preparing.
One reason for this inequity is I might not like how much a doctor or lawyer might cost but with few exceptions, I can’t do their job. There are many people who can do the role of a teacher (although that doesn’t mean they can do it well).
Since we live in a society of short term thinkers, if something will affect us short term, it makes a difference to us. If it wont affect us short term but will long term, too often we will put up with it. As an example, if I’m being sued I can choose to try to represent myself in court but in a very short time, I’ll probably realize it was a bad decision. I can choose to ignore the doctor and treat the illness myself but will most likely quickly realize this is having a negative impact on our health. On the other hand, we are willing to underpay educators because even if this results in us losing some of our top teachers, we don’t see the effects short term. Long term, this is having a dramatic impact on our society.
If we don’t learn to value people for what they are able to provide long term, our long term outlook will be very BLEAK!
Have a great day!
PS If you haven’t done so yet, please take a moment to check out my latest books at http://lawrencefine.com/books.php