(group) Do the relative values of humanities professors and footall coaches at major state universities reflect the relative value of football and humanities? Do they reflect the number of years that professors and coaches must spend acquiring an education? The number of hours they work? The difficulty or unpleasantness of their work? Why do the football coaches usually receive salaries that are so much higher?
Yes. They do. In monetary terms, the value of a single humanities professor is less than the value of a single football coach. The expected marginal revenue from a football coach is much more than the expected marginal revenue from a single humanities professor. However, it's not exclusively governed by the marginal revenue. The supply of college football coaches is much less than the supply of humanities professors. Or at least the supply of good football coaches is.