Re:Evaluating State and Local Business Tax Incentives [pdf]
by lotsofpulp on Wednesday January 08, 2020 @10:42AM
(#21992339)
>There's something unsettling about teachers and police officers getting paid a sliver of what a pro athlete does
Price has to do with supply and demand curves. If there's tons of demand for people hand sewn clothes for hamsters, and very few people who are willing or wanting to do it, then the price will be high, even though one might think there is very little utility to society.
Similarly, there's very few people able and willing to provide the entertainment that an NFL player can, but very high demand for it, therefore, very high pay.
Price has to do with supply and demand curves. If there's tons of demand for people hand sewn clothes for hamsters, and very few people who are willing or wanting to do it, then the price will be high, even though one might think there is very little utility to society.
Similarly, there's very few people able and willing to provide the entertainment that an NFL player can, but very high demand for it, therefore, very high pay.