I heard the other day that Yankee second string pitcher Contreras just signed a contract worth $32 million dollars a year. Contreras is a Cuban defector. My equivalent in the Cuban government makes one of the top salaries, about $30 a month. Most people make less than $10 a month.
Contreras makes enough to feed about 100,000 to 300,000 Cubans. Is a Major League baseball player worth that many people? Even in U.S. terms, is Contreras worth 1,000 median income families?
An economist would say yes, since that is what the market is paying. What the hell are we thinking?