The fact that a teacher is "worth" $320,000 does not mean that the teacher should be paid $320K. If they were, then the teacher is capturing the entire $320K, and society as a whole is not better off at all. Instead this number provides an "upper bound" for the proper salary. A more reasonable figure would be 1/3 to 1/2 of the value they're adding. IMO, society should receive "most" of the value of a teacher. That still leaves lots of room to increase the salary of a teacher.