All sport stars making millions are making it because they are effectively advertising shills. How many of them are effectively getting paid for advertising shit food, like sugary drinks that humans are addicted to.
replyThey aren't paid millions based on tickets to see them play, it's the advertising.
Nozick has a very interesting thought experiment about this. It poses a completely egalitarian world in which everyone has the same wealth and earns the same income. But there's a kid who's really good at dunking basketballs, and starts charging 5c to watch him dunk. Nobody is required to pay the kid, everybody does so entirely of their own free will. Things progress, and the kid now has 100x the wealth of anybody else. Nozick asks the question: is this something that a good society would try to stop?
replyand you answer is...? There is an interesting article about inequality and intentions behind it: https://www.overcomingbias.com/p/inequality-is-about-grabbin... ... what do you think about it?
replyI have an interesting thought experiment too. First everyone has the same wealth and earns the same income. But there's a kid who strings razor wire across a road and starts charging 5c to unhook it while you pass by. Nobody is required to pay the kid, everyone does so entirely of their own free will. Things progress, and the kid now has 100x the wealth of anybody else. I ask the question: is this something that a good society would try to stop?
replyWhich one is the better allegory of modern capitalism?
It's somewhere in the middle usually. Kid gets a bunch of people to pool their money to build a new road that is more convenient and lobby the road authority to not build competing roads. Then puts up razor wire and tries to extract the maximum that the market will tolerate.
replyNozick's thought experiment isn't about modern capitalism, which can be and should be trivially condemned without the work of gedankenexperimenten.
replyIt's about how a utopian society could and/or should respond to changes in resource distribution, and how entirely consensual behavior and exchanges between people can still lead to situations that are problematic.
Now switch the paying 5c to buying endorsed sweatshop Nikes and owning hundreds of minimum wage paying franchises. Because that seems to be what the successful sports folks do.
replyMaybe the taxpayers who pay for those expensive sports arenas + the tax breaks that frequently shelter their owners/operators?
replyBesides indeed the taxpayer funded stadiums, policing and so on, the common man who gets a gambling addiction due to gambling ads being shoved in their face 24/7 while watching any professional sport. Those drive up the broadcast rights, which is where their wages come from.
replyOf course she wasn't talking about athletes (or artists, etc), she was implicitly talking about the business / tech world. I guess she should have been explicit about it so people don't come out with arguments like this.
replyWhat's wrong with the argument? Do entertainers get a free pass?
replySports leagues exploit their monopoly power constantly. College football is the worst, but they all do it. If you watch a college football game you will see more ads than game. If there was a fair market competition people wouldnt watch these crappy broadcasts but since the college football teams all colluded to make their broadcasts shit together people dont defect. Athletes generally make around 50% of revenue from their league so they are taking advantage of the exploitation.
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