Why Kobe Bryant is worth $45 Million
(Note: This is the second in my series of blogs on the fallacies of populism) First, let’s be crystal clear here: I’m no Kobe Bryant fan. I actually have a deep seated distaste for him. But as the second highest paid professional athele last year, making $45 million, he is worth every penny. Why is he worth $45 million? Does his life hold any more intrinsic value than the bum on the street, or–more importantly– me or you? Is his job more important than that of a school teacher? These are all interesting questions, particularly to demagogues and populists. But they are the wrong questions.
The right question is, “why have people chosen to give Kobe Bryant $45 million to play basketball and endorse their products?” The answer is very simple: because they believe they can make money off of Kobe Bryant. Kobe Bryant has been blessed with highly unusual atheletic gifts and also works very hard to maintain and improve himself. He may or may not work as hard as some people who make 1/1000 as much as he does. But people are not paid based on how much schooling they’ve had, how hard they work, how necessary their jobs are, or how nice they are. Most people (except for those in unions and nonprofits, and government work) are paid based upon how much they produce. And Kobe Bryant produces millions of dollars of revenue for the NBA, the LA Lakers, and the companies that he endorses. A lot more than $45 million, no doubt.
