Athletes' Salaries Too High? Sports Fans, Blame Yourselves
Freeman › Vol. 57 Nbr. 6, July 2007
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Summary
What's more, the costs producers face in their operations are not determined by nonhuman factors such as energy expenditures, chemical transformations, or the abundance or scarcity of various raw materials; rather they are the consequence of the producers' evaluation of alternative ways in which they might earn their livings by meeting consumer demand. Some critics of "consumerism" argue that, in today's market societies, consumers' choices about what to purchase are "not really free" because they have been unduly shaped by massive and pervasive marketing efforts designed to convince people that they want or even need products that they could easily forgo, some of which actually diminish their quality of life.
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Athletes' Salaries Too High? Sports Fans, Blame Yourselves
I was sitting in a sports bar recently when the bartender and three of the patrons near me began discussing the salary of New York Yankee third-baseman Alex Rodriguez. (Rodriguez currently makes roughly $25 million per season.) One of the customers said it was absurd that Rodriguez makes so much when, for instance, teachers, charged with educating our children make only $50,000 or $60,000 per year. The bartender defended Rodriguez's salary, asking...
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