Footballers and the Top 1%
These figures clearly put footballers in the ‘top 1%’ – but does anybody seriously believe that football players have achieved these gains at the direct expense of the average worker or that there is some sort of sinister elite conspiring to raise footballers pay? I think not. The reality is that a very large number of people who have seen only moderate increases in their wages/salaries over recent years have been willing to spend a higher proportion of their income watching football. Many average workers have willingly handed over a part of their salary to watch games – and many more have done so indirectly by boosting advertising revenue as TV coverage has expanded rapidly in recent years. The supply of top flight players has not increased significantly over time, but the demand for their ‘services’ has rocketed – and so as a consequence has their pay.
Read the rest of the article on the Pileus blog.