In an era of stories about teacher layoffs and teacher unions protesting for better pay and benefits, it's assumed that this profession gets the short end of the wage stick when it comes to serving in public schools.

Are teachers paid too much? It's a question that would ignite heated debate at the most mellow of cocktail parties. But it's a question that AEI took head-on this year.

Plans to evaluate teachers based on student performance and offer merit pay for teachers have gained attention, but they don't go nearly far enough. Today's teaching profession is the product of a mid-20th-century labor model.

Where Obama went wrong on education – and what Romney needs to say

The public commonly accepts that public school teachers are "desperately underpaid," in the words of Education Secretary Arne Duncan, and that raising teacher pay should be a priority of education reform. But is this true?

In an era marked by widespread belief that teacher quality may be the key to school improvement, determining how--and how much--to pay teachers is a vital concern.

Public school teacher compensation is roughly 50 percent above private sector levels. In addition to merit pay, fundamental reforms to help schools hire, promote and fire teachers according to the best interests of students is needed.