This book was originally published in 1979 and deals with the contentious subject of teacher's pay. There were a number of key issues. First, and most crucial, how salary levels were affecting the aggregate supply or teachers. In other words, where teaching is a vocation so salaries make no difference, or whether pay matters. The second issue is how much difference do administered pay scales make? Lastly, could the system manage to adjust within this framework to the underlying pattern of shortage and surplus? All these questions above are subjected to systematic analysis using the complete tapes of the teachers' record for 1963–1972 from the Department of Education and Science. The analysis is approached with an awareness of the educational context within which the market is situated. It remains of value to anyone with an interest in education and economics.