why do athletes get paid so muchwhy do athletes get paid so much

Another may be motivated solely by his desire to become fabulously wealthy. Its hard to underestimate the importance of this. If a wealthy heiress spends her inheritance entirely on lavish evenings of debauchery, then a newspapers society columnist is perfectly entitled to bemoan that she is not putting her fortune to a better use. To understand me, you need to know I was born and raised in Cincinnati. They cant handle that amount of money that they be getting most go crazy and greedy over it and want more. In a world of splintered viewing, sports are seemingly the one force that can still bring a mass audience to the screen. And in a world where some professional athletes are paid almost 100 times the salary of the average U.S. teacher, it comes as no surprise. But do these athletes really deserve all that money? Copy a link to the article entitled http://Entertainers%20and%20Athletes%20paid%20too%20much? In 2017, the top five and 18 of the top 20 rated television shows of the year were sports. Cincinnati had the first professional baseball team in 1869, which means this year the Cincinnati Reds (originally Red Stockings) are celebrating their 150. birthday. His quote directly shows that athletes are being paid too much. I began following the Reds in the 1950s with Ted Big Klu Kluszewski, Frank Robinson and Gus Bell, then continued through the successful Big Red Machine years of Pete Rose, Johnny Bench and Tony Perez, and I am still an avid fan today even though the team has recently struggled. Footballers are only for entertainment value only. Doctors and soldiers are paid an inadequate amount for their hard work in comparison to footballers., People complain that professional athletes get paid too much, but what they dont understand is that we need a lot of money because we spend a lot of money, is a quote from Patrick Ewing, a famous NBA star. Because fans support them. (Not just the four of them, of course, but them in concert with all other sports fans.). While I am certainly interested in seeing the elite of college basketball play in March, another sport gets an equal amount if not more of my attention. Just in the last week, four NFL football players made news for signing record new contracts for their positions. These infamous players must grow up, and prove to America that they can be positive role models for kids on and off the field. So, it is economy of scale. Professional athletes should not be paid the ridiculously high amount they are because of the way they tend to spend it, the money they can, Although most people think athletes should make as much money as they do, others think they shouldn't make so much. Similarly, the owners of baseball teams who receive municipal subsidies to build fancy, new stadiums can pay their players more than they could without that government largess. on Facebook, Share Entertainers and Athletes paid too much? Copyright 2007-2023 & BIG THINK, BIG THINK PLUS, SMARTER FASTER trademarks owned by Freethink Media, Inc. All rights reserved. Second from the supply side there is a relatively small number of individuals who have the talents, skills and capabilities to perform at the levels required by professional sports. That such efforts at persuasion will sometimes fail is an inescapable consequence of treating others as free agents rather than as ones vassals whose lives can be directed as one wills. In today's society, one should be paid according to the job's economic importance and their value to society. Furthermore, police officers, firefighters, and doctors save lives while risking their own for a fraction of what sports stars make. Considering that a pro athlete in the big four leagues - basketball, football, baseball and hockey - only average 3-5 years tenure, athletes do need to make big bucks. The conventional answer is that it's possible because market forces allow it. Millions of people come to watch these events every year, and even one-third of the United States watched the Super Bowl last year. 100 US dollars to Russian rubles Exchange Rate. They can stop paying so much for ESPN and tickets to ballgames and instead spend the money they save on their childrens schooling. Quotes footballing sensation Craig Bellamy. If you like doing something no one else values, or if youre not good doing something that people do value, companies and consumers will be unwilling to pay you. market demands, market decides. Age expert Dr. Morgan Levine explains why living to 100 is the wrong goal. Last, millions of people enjoy watching these talents and are willing to pay to do so. Clearly millions of people in the country, as well as around the world, value professional sports. Athletes train every single day of their lives just to perform. In addition if we are going to be giving out trophies we should make them mean something. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. (Video) Should Athletes be Paid High Salaries. And besides, if the owners can pay ballplayers that much, how much are they making? (His second defense of Rodriguezs income level is, of course, open to the objection that the owners are even more overpaid than are players.). Advertisement. What matters in affecting a workers earnings is the number of people who value the work and their willingness to spend to support the work. I'm going to use my favorite player, Lebron James. Tickets for a game, are just the start of the money spent on a day at the ballpark or field. 2023 NC State University. If Alex Rodriguez earns the same amount of money as it would take tofeed the nation's poor for a year, he cant cheat and take steroids. He is on a six-year $68 million contract, with $31 million guaranteed. Tiger Woods, along with many other professional athletes, certainly think so. Citizen science can help. Pro sports players have unique and special physical and cognitive skills. But I have to admit something. This policy means all the athletes receive some type of reward regardless of their athletic ability. the money coming in from people paying to see sports . Pro sports players always try to develop an edge so teams and owners will think only certain players are able to fill a need. Athletes should get high salaries because they donate a lot of money to charity and hospitals, athletes work their entire lives to get into pro leagues and only some players get really high salaries., Pro athletes, entertainers we root for them, we love them. Their selfish and stupid they waste money on drugs and alcohol, stupid things that can kill them and make them lose everything. Playing in the lower leagues pays less because there's a higher supply of footballers. First and in economics lingo, from the demand side there are large numbers of fans in the country and world who like pro sports and are willing to pay to access it. This work is licensed under a Creative Commons Attribution 4.0 International License, except for material where copyright is reserved by a party other than FEE. Now lets apply these three principles to pro sports players. Here are three major stories from this struggle. The average pay of a professional athlete is 4 million dollars. Consumers must bid enough to prompt producers into action, and the price of every goodindustrial products as well as consumption itemscan be traced to consumer choice. Why do athletes get paid so much? Apr 11, 2019 3 min read Are Professional Athletes Paid Too Much? First of all, these athletes get paid millions of dollars for playing a sport they desire., For example: Marcus Mariota wows fans as the quarterback of the University of Oregon Ducks the 20 year olds sophomore from Hawaii help the school earn millions of dollars through ticket sales, advertising, and TV deals ,but like all college athletes Mariota does not earn a penny(Zissou, 2013). Im not supporting socialism, but I do think that these people get paid way to much to simply entertain us. Do Professional Athletes Get Paid Too Much Money? Campus Box 7601 In my mind, absolutely not. Are Professional Athletes Paid Too Much? - ThePoint In this grouping of athletes, one of them earns the most money, and is one of the highest paid athletes in the United States. It is the very fans who often grumble about the ridiculous wages paid to top athletes who in effect set their salaries. The reason they are paid these amounts of money can be explained with simple economic principles such as supply and demand, and inflation through time. Hence, there are two main reasons why pro sports players are paid so much. Has it ever bothered anyone else how much money these people make each year? However, I really believe that during the last years speculation has played an important role in making prices in soccer go up. Outside of game-day, people buy all sorts of items that show their fandom, like jerseys, team hats, team licence plate or cell-phone covers. The Sixers guard sat before the media throng, trade rumors swirling around him, the background noise growing louder, as Philadelphia fans griped about another professional athlete who's paid millions and acts like a diva. Producers of items needed for the production of consumer goods will find it rewarding to produce those items only if consumers value the final goods enough to pay for the resources and work necessary to create them. These businesses pay the money because they know millions of fans will watch the games. Do elite athletes really deserve their enormous income? 1 overall pick in the '07 draft. From Olympic Track and Field sprinters to professional Golfers, these athletes have worked hard to make millions. Lebron is the top paid player in the NBA., What do LeBron James, Serena Williams, Inbee Park, Usain Bolt, and Peyton Manning all have in common? The first, and primary one is fans; people love watching and rooting for sports teams and they are willing to pay a lot of money to do it. Convert USD/RUB - Wise, [Investing for Beginners] Introduction to HK stocks Banks vs Securities Firms Fee Comparison, The Dangers of Nicotine Pouches - Renaissance Recovery, Do professional athletes get paid too much? If my neighbors in the sports bar are seriously distressed that star athletes make so much more than educators, the power to alter that situation lies with them. Every person has specific skills, talents and interests.Working hard to develop those skills, talents and interests can be both rewardable and enjoyable. Athletes get paid even when they don't do their jobs. How is it that one man can make 14 million dollars simply putting a round ball through a hoop? This aspect of the market economy, which has been termed consumer sovereignty, is entirely independent of how concerned a proprietor is about the welfare of his customers. That's driven by two related forces. Does a fielder get an error in baseball if nothing bad happens? In a free society the proper remedy available to those who deplore smoking or are convinced that their fellows should buy fewer Britney Spears CDs and more Bach is to persuade others of their beliefs. For example thats the same thing as me asking my friend to do something for me and he does all the work while I sit back and relax. However, if an athlete earns a medal, there is a medal bonus attached to it. However, its also important for workers to stand out in a good way so they will be harder to replace. The conventional answer is that its possible because market forces allow it. Why Do Entertainers Make More Than Everyone Else? Wasnt America founded on equal justice for all? While I do understand that making it into the pros is not an easy thing to do, and thatit takes a tremendous number of hours of hard work and dedication every day to earn a job in professional sports, these people do nothing more than entertain the general public. Yet there are some practical suggestions for any worker implied by the reasoning. Why Do Athletes Get Paid So Much? - KnowsWhy.com Who needs gold teeth or anything of the like ? Do Professional Athletes Get Paid Too Much Money? (2023) - Investguiding Professional athletes should have smaller salaries because jobs that save lives get payed way less, ---, and the money they are getting could be used to help the community., "I will not be taking my pay rise as I don't believe that I should be earning more than a doctor". Do athletes deserve the high salaries they receive? Why or why not? 237 When a ballplayer lands an eye-popping contract, some fans and critics lament it with a question that's been asked for generations: Why are professional athletes paid so much? But are. Why does the UK have 4 national football (soccer) teams? By Christian Red. Second, workers have different skills and talents, so the work each of us performs can be valued differently. Sportswriter and radio host When fans look at professional athletes' salaries, it's easy to say they make far too much money for playing a game. What no one participating in the barroom banter that afternoon seemed to consider was the question of just who is responsible for the size of Rodriguezs salary. The correct answer, especially given that we were in a sports bar, is that the discussants themselves ultimately are the ones setting such high rewards for being an outstanding athlete. They get to live a great life with all the money they earn but do they deserve that money, yes their talented but they don't save lives like doctors do or even go on dangerous missions to save people like firefighters and cops do but they get all this money and spend it pointless and worthless things. Do Professional Athletes Make Too Much Money, Three helpful ways to strengthen financial stability for 2023, Best Warren Buffett Stocks To Buy And Hold In 2023, 12 Best Growth Stocks to Buy for the Next 5 Years, Best Performing U.S. Stocks in the Last Year, 3 Years, 5 Years, and 10 Years - Trade That Swing, Direct Characterization Vs. Show More. (Rodriguez currently makes roughly $25 million per season.) You Decide: Are Professional Sports Players Overpaid? NC State is an equal opportunity institution. Are athletes getting paid far too much? - NEIU Independent On the contrary they should deserve some type of revenue whether it's for clothes shopping, take someone out on a date, gas money, etc. Third, everyone doesnt value particular kinds of work the same. Some sport organizations have a "Trophies for all" policy. However, unless consumers value Martian skillets more than the terrestrial variety, expending all that effort to procure otherworldly metal will not result in a higher price being paid for it. Investguiding is a website that writes about many topics of interest to you, it's a blog that shares knowledge and insights useful to everyone in many fields. To answer my wifes question and likely many of you have the same question let me first discuss some of the basic economics of the labor market. (Video) Are Athletes Overpaid? Since 2012, the amount of time that teenagers spend socializing in person has plummeted. One of the cases that NCAA system is facing the notable case of former UCLA basketball player Ed OBannon is suing for former athletes entitlement to compensation for further use of image after graduating (Holton, 2014). The other way of looking at this topic is through the history of players advocating for themselves in locker-rooms, boardrooms, and court rooms often at great risk or cost to themselves. People in the military leave their families at home to defend and protect the country knowing they may never return. (Video) #OffScriptOn9: Are professional athletes paid too much? But does this mean that athletes should be paid the astronomical amount that they are? (Explained), 5. Drip Network Price Prediction, will DRIPs price hit $185.87? It just doesnt make sense and most importantly it isnt, What would our lives be like if we got a trophies for doing what we are required to do? Other countries do not pay their athletes nearly as much as America does. How is it that one man can make 14. Why do some athletes make millions? Because fans support them. Demand for such players is also lower as they bring in less revenue for the club. Some may be jealous of the high salaries pro players earn. 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. My wife's puzzlement is partly stimulated from the fact she worked over thirty years as an elementary school teacher, where the paychecks are significantly lower. The money flows from consumers through their cable companies to sports leagues to team owners to players. Yet to my wife who is a grudging baseball fan one question has always perplexed her. In any other job, if you don't perform to your expectations, you're fired. If a father bets extravagantly on horseraces while neglecting to provide adequately for his childrens needs for food, clothing, shelter, and education, then his friends and family are quite justified in reproving his conduct, and if the neglect is severe, legal remedies may be appropriate. The crisis of the Anthropocene challenges our traditional narratives and myths about humanitys place in the world. The players are not paid to sit on the sidelines; they are paid to risk everything and participate in the sport. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Some people question if an athlete should get high salaries. Of course, producers must not ignore physical reality in their business decisions: it will clearly require far more time and energy to manufacture skillets from iron mined on Mars than from the same metal mined on earth. When one takes this massive amount of dough and compares it to the average salary of a middle class citizen, which ranges from 42,000 dollars to 125,000 dollars, one would notice that the NBA player makes substantially more than the average citizen. Thats only one way of looking at this though. Yes it may, but only for the individuals that are born skilled enough to a certain sports. on LinkedIn. Media companies pay the leagues and teams billions of dollars for the rights to show the games on television and other video devices. Columbus was neither the first nor the nicest. These people dont deserve this type of money because most of them are irresponsible and cocky. Teaching is one of the most economically important occupations because our future economy relies on the education of its youth, yet teachers are paid astronomically less than the average professional athlete is. This should really matter to everyone in the U.S and around the world because the people who get millions of dollars only do.