Assume the average salary for a college philosophy professor is $50,000. Suppose businesses decide they need in-house instructors to teach ethics to employees, and they begin hiring philosophy professors at a salary of $75,000. What are the short-term and long-term effects of this supposition?

College Philosophy Professor

An academic professional specializing in the study of philosophy, teaching and researching at a college or university level.

In-House Instructors

Experienced employees within a company who provide training and knowledge transfer to other employees, often as part of on-the-job training programs.

Average Salary

The mean income derived from dividing the total payroll of a particular sector by the number of employees in it.