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Athlete Salaries

The Highly Flexible Law of Supply & Demand

Those who moan and groan over the unfair huge salaries paid to professional athletes often show they not only have little understanding of professional sports, but that they also exhibit a complete lack of understanding of capitalism. First of all, professional sports are a multi-billion dollar business. It is not a civic form of pride, a loyal code of ethics or a group of people choosing to play sports because of some inherent “love” for the game. It is a business. As such, like any other privately owned commercial enterprise it is ruled by the dynamics of capitalism. Capitalism. You know, that economic system that revolves around the law of supply and demand, free enterprise and profit maximization? As such, the topic of players being over paid is a moot point because the market sets the salaries, not the owners and certainly not the players. In fact, if anyone is responsible for the lofty realms of professional athlete salaries, it is the fans themselves. The fans, you ask? Yes. The fans. Because fans pay for tickets, watch televised games, and buy promotional merchandise, they create an enormously profitable market for sporting events. This not only includes tickets and merchandising, but also the enormous profit opportunities opened up to owners in terms of television contracts and corporate sponsorship. People often complain athletes are paid too much in comparison to school teachers, nurses, and other vital occupations. However, the facts are simply that those occupations do not generate the revenues for employers that professional sports do, or they would be paid accordingly, “The answer is simple, your job does not create the revenue for the owner of the company you work at, or you would get paid more…the reason they get paid so much is because you keep going, watching and buying the merchandise. The bottom line is this, if you participate in any of these ac...

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Athlete Salaries. (1969, December 31). In LotsofEssays.com. Retrieved 19:57, May 26, 2020, from https://www.lotsofessays.com/viewpaper/1685047.html