Ken writes: What amazes me is the public’s blasé acceptance of the salaries of sports stars, compared to its low regard for superstars in business and finance. Half of all NBA players’ annual salaries exceed $2 million, more than five times the threshold for the top 1% of household incomes in the United States. Because long-time superstars like Kobe Bryant earn upwards of $25 million a year, the average annual NBA salary is more than $5 million.
Jeremy Lin is currently having a rookie season on par with some of the NBA’s greatest players and the price of his rookie card reflects it. A Jeremy Lin rookie card attracted some serious bidders with some serious cash today on eBay... Read Post
Ken Rogoff, an economics professor at Harvard, recently wrote a column accusing sports fans of hypocrisy because of their "blasé acceptance of the salaries of sports stars," when those same fans react negatively to the salaries and ... Read Post