Monday, October 3, 2011

Sports Fans Are to Blame for High Salaries of Athletes

Many times the conversation has come up about the ridiculous amount of money the New York Yankees pay 3rd baseman, Alex Rodriguez. However, what fans do not realize is that they are the ones who contribute to his enormous salary. It's not necessarily their money, but because of fans passion for the game and willingness to pay more to see and watch baseball. Sports are businesses and they are high factors of production in our market economy. Due to consumer sovereignty, consumers get what they pay for and sports bring in a lot of revenue from tickets, television deals, and memorabilia. Players salaries do tend to be looked as a matter of societal importance rather than the worth of that product to a business.


Wei said...

Professional sports players are one of the specializations of labor. They are trained to perform in the game which takes years of practice and the talent. For those who can play the game best will be more popular than others and become a star. Because those stars can perform best of the best, they get pay more. Popularity of a player drives the salary up and brings the related product of the player for the team. Fans want the salary of the player, but they can perform as well as the player does. It is the reason players gets paid more, and the salary is from the fans who support the team.

JonathanW said...

Thank you, Wei. Some sports fans don't realize the amount money they spend on their sports teams. Even if they never attend the game, they are watching the games, buying memorabillia, and even writing on blogs and creating a buzz about the team. Thank you for commenting.