#63 Planet Money: Which Teacher's Worth More?

Should good teachers make more than bad ones? The Obama administration says the nation needs to start rewarding merit, and economist Michael Podgursky of the University of Missouri agrees. It's just that there's no simple means of carrying that out.

Plus: A listener has an economic riddle. If colleges compete for students by making it easier to get degrees, then employers can't necessarily tell who's better qualified. What would an economist call this problem and how can it be fixed? Robert Frank, author of the Economic Naturalist's Field Guide, has an answer.