A lot believe that the market is more efficient, functional, productive, and tangible than academia. While this may seem true in some aspects of work, I do believe that the reason for such assumption is the negligence of the role of academia in enhancing the market.
Accordingly, market jobs get way higher salaries than academia. I myself have worked in both sectors, and I can assure you that the academic sector is nowhere any less important than the market sector. In fact, many of the deficiencies in the market sector can be justified due to the inability of the academic sector to take on a more significant role.
Academics keep saying, "We need to bridge the gap between the market and education" Fine. What gap is this? Who caused it? Who will bridge this gap? What they actually mean is: "Look at what happens in the market and do the same on campus".
But, what if the market is F***** up already? Isn't it time that the academic sector should start leading the way for a while?