Why do football players earn more than teachers?
If you didn't study Economics in school, or if you didn't pay attention to that class, you don't have to tell me. You just need to ask, "Why do football players earn more than teachers?" I can tell. One of the most basic things you learn in Economics class is what drives the prices of things. And yes, salary is a price. If you are a football player there is a greater chance that your price is higher than if you are a teacher.
It all has to do with how the free economy works. If you're of the opinion that our government sets the prices of things, you're wrong. They try, of course, but they fail. Governments that are not free economies failed miserably in the twentieth century, such as The U.S.S.R. (Russia).
The price of everything, including the computer you are looking at right now, is set by how much people are willing to pay. The price is not set by how much people want to talk about it, or how much some government official wants it to be. The vote is by wallet. Now take a look at the money that is freely spent on football. People love to spend money on football. They love getting Sports Channels, going to games, supporting their team. The value of someone who can play football well is extremely high. Like any rare commodity, the price goes up.
I hope that this helps. Once you understand this, it makes seeing many of the posts of Facebook slightly painful.
Posted by Brad Hall