The article explores how the value of educated workers in cities compares to their wages, considering different types of job markets and unemployment rates. The researchers found that in urban areas with both open and restricted job markets, wages in the open market tend to overestimate the true value of educated labor. This discrepancy is mainly influenced by how much demand there is for workers in the open market. Overall, the study suggests that wages in the open market can give a good estimate of the relative value of educated workers, but may not fully reflect their true worth.