Teachers pay versus economic reality

Teachers are celebrating after the Supreme Court upheld the lower courts award of over 50 per cent salary increment. Let us remove the excitement part of the raise and look at the economics behind it. What does this raise mean to the national economy, both long term and short term?

What of the teaching profession, education sector, the civil service and the economy? To the teachers’ union leaders, it is a moment of pride and a justification for the dues members pay every month. That victory increases the probability that these leaders will be re-elected for another term. They could also translate that victory into a platform for bigger political offices; 2017 is not far.