> Jacobson’s $70,000 salary was six times his police officer’s pay
How is this possible?
How is this possible?
Even then, in 1988, that $70,000 salary was pretty good. That's the equivalent of $149,000 today. (Or $52,000 in 1981 when he was a cop).
Not all of these still exist today, but many do.
As the benefits got more expensive, salaries came up.
Also, police officers are not paid well.
Inflation only tells some of the story -- oil is marginally controlled by a cartel, OPEC. I seem to recall OPEC following a cheap oil strategy to drive smaller producers to close their wells.