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17 year old 1965 a professor academic salaries academics will fall alternative careers analysis assistant lecturer average manual worker average share cabinet able CAREER CHOICES choice of career Civil Service Clearing Bank Conclusions Normative Economics declined in earnings earnings status economist existing academics leave field of positive financial and non-financial financial differences involved financial factors financial terms fiscal drag G.D.P. per person Gross Domestic Product growth in G.D.P. highlight the Civil inaugural lecture income tax Industrial Company 4,000 Large Industrial Company levels of discipline lifetime earnings line in Figure lower line Managerial Economics managerial professional Newbould non-financial benefits overlooks the fact package of financial person employed positive economics professional or middle professor has declined professor received Professorial equivalent professorial salary purchasing power ratio has fallen Ratio of professorial reducible to financial sake of understatement Salaries A Personal salary in 1965 society share account starting salary value judgement value of money