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PhilGoetz comments on Bayesians vs. Barbarians - Less Wrong
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That "auction of sorts" would be the normal market mechanism, right? There are death rates that vary between professions now, with risks priced into the prevailing market wage for those professions. I don't see why soldiery should be different.
That's why a contractor in Iraq today makes about $200,000/yr for a job that would pay $70,000/yr in the US. (A soldier makes, I think, a median of something like $40,000/yr.)