Back in 63 two Dodgers, Drysdale and Koufax, went on strike for a raise to $100,000 a year, the same time I was earning $14,000, and the max NASA, by law, was $25,000, in comparison with baseball 4 to 8 times. Today, engineers earn $75,000 to $100,000, and ball players earn over $20 million, a comparison of around 200 to one. What went wrong?

Supply and demand.

Persist... Procreate... Prosper... Proliferate  JWG

I would agree with Richard that when the minimum salary in Major League baseball (for a utility infielder who only plays when people are injured) exceeds that of SCOTUS justices, members of the joint chiefs of staff, and is only slightly less than the POTUS It indicates, to me, a society with it's priorities askew.

We are a shallow lot. As soon as the SCOTUS learns to entertain as well as the athletes then we can charge the fandom they generate and pay them more. I never understood why Elvis was paid so much when I could sing Blue Suede Shoes better than he did.

Persist... Procreate... Prosper... Proliferate  JWG

My point, of course, is that you get what you pay for. We seem to value entertainment much more highly than justice, or military defense. the economic incentives-and we'll leave entertainment for awhile- for a talented attorney are not designed to draw the best to the judiciary. And someone who could be a good lawyer would make a ton more money with an MBA in finance and trade financial products from hand to hand till the money is all gone

If we were paying a Justices 10 million a year would we attract better Justices to the job?

Last year when folks talked about capping salaries at TARP recipients at a half million the cry went up that you can't hire good talent for that. Dave Petraueus makes half that, so I guess we need to keep our fingers crossed

Just raising military pay would not attract the warriors necessary to the task Dave. They warriors are already there. That is also my reason for not doing a draft.

Back to sports 9and entertainment): only Major Leaguers get paid like that. minor league players make less than mailmen. And there are very few jobs in the NBA/NFL. People that get them do well, the stars really clean up, but most people that go into football playing go no further than college, and get a string of concussions for their effort. OTOH, lots of lawyers make a handsome living. So just looking at the top salaries (and top salaries for lawyers are way more than SCOTUS makes) doesn't give you an accurate picture.

Yes the quality required at the top of the NBA, NFL or MLB  is a whole different animal. They audition for the job in several venues and more fail than succeed in the sports. 

But you're right: A-Rod makes so damn much money because there's a lot of demand for soeone who can play baseball as well as he can, and not much supply. Even the bench jockeys in MLB play a real mean game of baseball. That they're paid as much as the president seems screwy, but the president gets other compensation (lots of prestige for instance, and power).

I have never been overly concerned with my own income Dave. I was a skilled tradesman in a factory for 10 years when they offered me any job I wanted in management based on some recommendations I made to enhance their abilities in the facility. I did not accept the offer. I could have taken a two year course upon my discharge from the Navy and have become an air traffic control operator. I did look for more income while my sons were in very expensive universities (5 years and done) and even served as a Plant Manager in a facility with 200 employees. I wore out on that in about 3 years and went into business for myself building one of a kind furniture in the Mission Style. Now I turn most commissions down to permit more time for my social engagements in leading community activities. I suppose someone could entice me to design and build a special piece to go with their antiques by offering me a large commission. Perhaps I do not envy others their big salaries because I know I could earn a lot more if I worked harder or smarter.  

Persist... Procreate... Prosper... Proliferate  JWG

Presumably, if the judiciary paid like the NBA does, yes-more people would try to get those jobs, increasing the talent pool

What do you suppose we might have to pay to attract talent. Would we actually have to pay the talent or the person who nominates the talent?

I doubt that's why. I suspect that, like myself, you don't think that what other people make really concerns you. I know this will come as a surprise to you, but I really don't begrudge A-Rod or B Gates their wealth. I have concern about income distribution, but those concerns relate to economic efficiency, wise allocation of scarce resources, justice and other issues. but like you, if i wanted more money I'd have followed a different path.

When I was born in Appalachia just before WW2 I was the little prince of the very small town. My two grandmothers practically owned the town. A 425 mile drive to the flatlands here in Indiana and I was suddenly poor. I was only 10 years old at the time but the family spent no small amount of time convincing me I was capable of doing as well as my two grandmothers did economically. The local schools supported that contention by assuring that if I worked hard enough I might even be President some day. But then who wants to work for that low wage when you might aspire to pitch for the Chicago White Sox.

Persist... Procreate... Prosper... Proliferate  JWG

Again, I find it hard to believe that you don't think money motivates people: that's kind of the fundamental theorem of free-market economics.

I know that money is the only motivator for some. However, I find it hard to believe that you want money motivated individuals setting on the Supreme Court of the land.

We know that President Obama earned more before he rose to office in the Senate. Do you believe we would have gotten a better candidate for the presidency if we had raised the pay scale and benefits for holding that office?

Persist... Procreate... Prosper... Proliferate  JWG