How about W5's life?
German Market
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Wow. New Kakarot-Handke highlight: https://twitter.com/AXECorg/status/1222545072706785285?s=09
The profit theory is false since Adam Smith. Economists have failed to capture the essence of the market system. A paradigm shift is imperative.
Exactly. Oh, and impeach Rudi
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Wow. New Kakarot-Handke highlight: https://twitter.com/AXECorg/status/1222545072706785285?s=09
The profit theory is false since Adam Smith. Economists have failed to capture the essence of the market system. A paradigm shift is imperative.
The de-hyped reality is that economics has NOT been successful at its proper task. The major approaches — Walrasianism, Keynesianism, Marxianism, Austrianism, MMT — are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the foundational economic concept profit wrong.
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Wow. New Kakarot-Handke highlight: https://twitter.com/AXECorg/status/1222545072706785285?s=09
The profit theory is false since Adam Smith. Economists have failed to capture the essence of the market system. A paradigm shift is imperative.
The de-hyped reality is that economics has NOT been successful at its proper task. The major approaches — Walrasianism, Keynesianism, Marxianism, Austrianism, MMT — are mutually contradictory, axiomatically false, materially/formally inconsistent and all got the foundational economic concept profit wrong.
Agreed.
However, please note that economic research has improved a lot in the last decade. For example, some pieces of Rudis research is like E=mc^2
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1) More and more teachers aren't verbeamtet anymore.
5) Pensions depend on your last earnings, so NPV(W3 pension)>>>NPV(Studiendirektor pension)1) Utter nonsense. Saxonia changed to "Verbeamtung". Berlin will do it. Believe me.
4) 80% of all teachers become `unfit for work'. Average age of teachers getting retired in NRW in the 90s(!): 58.
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If you have a family, incomes for university professors in Germany are fine. Let's say you are married and have three kids. You get a family allowance of around 10k per year (before taxes). On top of that, you get a child allowance of around 7.5k per year (tax-free).
Many professors thus go home with 80-90k after (!) taxes.
- Expenses for child care are negligible.
- No expenses for school/university tuition.
- No need to save up for your pension. You get more than 70% of your last salary when you retire, for the rest of your life (your pension continues rising along with other people's salaries).
- Cost of living are low, especially in smaller places.I wonder: What would be an equivalent US salary?
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- No need to save up for your pension. You get more than 70% of your last salary when you retire, for the rest of your life (your pension continues rising along with other people's salaries)
Actually, this is utter bulls**t.
1) For every year of service, you get 1,79375% (with the maximum of 71,75% reached after 40 years of service).
2) If you are very successful and earn much more than the W3 base salary, then not all of this is pensionable. Consider, for example, the state of Baden-Wuerttemberg. In Art. 6 of the "Landeshochschulgesetz". There you can read that at most 121% of the base salary is pensionable. For a strictly limited number of professors this upper bound can be higher. According to the law:
An Universitäten können unbefristete und befristete Leistungsbezüge nach § 38 Absatz 1 Nr. 1 und 2 LBesGBW über den für die Besoldungsgruppe W 3 geltenden Prozentsatz nach Absatz 2 Satz 1 zusammen höchstens
1.
für 4 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 37 Prozent des Grundgehalts,2.
für 2 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 46 Prozent des Grundgehalts,3.
für 1,5 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 56 Prozent des Grundgehalts und4.
für 2,5 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 65 Prozent des Grundgehaltsfür ruhegehaltfähig erklärt werden.
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Thanks for confirming what I've written above.
- No need to save up for your pension. You get more than 70% of your last salary when you retire, for the rest of your life (your pension continues rising along with other people's salaries)
Actually, this is utter bulls**t.
1) For every year of service, you get 1,79375% (with the maximum of 71,75% reached after 40 years of service).
2) If you are very successful and earn much more than the W3 base salary, then not all of this is pensionable. Consider, for example, the state of Baden-Wuerttemberg. In Art. 6 of the "Landeshochschulgesetz". There you can read that at most 121% of the base salary is pensionable. For a strictly limited number of professors this upper bound can be higher. According to the law:
An Universitäten können unbefristete und befristete Leistungsbezüge nach § 38 Absatz 1 Nr. 1 und 2 LBesGBW über den für die Besoldungsgruppe W 3 geltenden Prozentsatz nach Absatz 2 Satz 1 zusammen höchstens
1.
für 4 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 37 Prozent des Grundgehalts,
2.
für 2 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 46 Prozent des Grundgehalts,
3.
für 1,5 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 56 Prozent des Grundgehalts und
4.
für 2,5 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 65 Prozent des Grundgehalts
für ruhegehaltfähig erklärt werden. -
Years as student and doctoral student, AP etc. count towards these years.
- No need to save up for your pension. You get more than 70% of your last salary when you retire, for the rest of your life (your pension continues rising along with other people's salaries)
Actually, this is utter bulls**t.
1) For every year of service, you get 1,79375% (with the maximum of 71,75% reached after 40 years of service).
2) If you are very successful and earn much more than the W3 base salary, then not all of this is pensionable. Consider, for example, the state of Baden-Wuerttemberg. In Art. 6 of the "Landeshochschulgesetz". There you can read that at most 121% of the base salary is pensionable. For a strictly limited number of professors this upper bound can be higher. According to the law:
An Universitäten können unbefristete und befristete Leistungsbezüge nach § 38 Absatz 1 Nr. 1 und 2 LBesGBW über den für die Besoldungsgruppe W 3 geltenden Prozentsatz nach Absatz 2 Satz 1 zusammen höchstens
1.
für 4 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 37 Prozent des Grundgehalts,
2.
für 2 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 46 Prozent des Grundgehalts,
3.
für 1,5 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 56 Prozent des Grundgehalts und
4.
für 2,5 Prozent der Inhaber von W 3-Stellen bis zur Höhe von 65 Prozent des Grundgehalts
für ruhegehaltfähig erklärt werden.