Thursday, June 27, 2019

Comparing Baseball Player Salaries to Teacher Pay Reveals Confusion on Basic Economics - Foundation for Economic Education

Comparing Baseball Player Salaries to Teacher Pay Reveals Confusion on Basic Economics - Foundation for Economic Education
"Bernie Sanders is confused. 
Again. 
He recently took to Twitter to opine that:

Embedded video
If we are a nation that can pay baseball players hundreds of millions of dollars, don't tell me we can't afford to pay teachers the salaries they deserve.
As is often the case, the senator from Vermont was partially correct. 
Baseball players do, in some cases, get paid hundreds of millions of dollars. 
Where he is confused, and this is a very typical confusion for Sanders, is as to the source of that money.

  • Fans, Not The Nation, Pay Baseball Players
“The nation” doesn’t pay baseball players. 
Fans pay baseball players by buying tickets, merchandise, and products whose sellers advertise at games. 
Importantly, each person who contributes to paying the baseball players decides for himself whether the product baseball players are offering is worth the price.
And that individual choice is what keeps the entire industry consistently focused on satisfying the fans..."
Read all.

No comments: