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Education 1 Athletes 0
The article for this week’s discussion is very interesting in the fact that the sporting industry is very lucrative and in the “game” to make money. These sport teams need to charge unreal prices for tickets and merchandise in order to pay their players so the cost out ways the means.. Corporate sponsors paid athletes absurd amounts of money because they know people will buy their products endorsed by a professional athlete. Financially America has it backwards, we invest more into sport teams yet we cut back on education programs. The comparison is unrealistic in the sense that it teaches our youth that education comes second to sports. I just need to play a sport and I’ll get paid so I don’t have to study. Having an education is so much more important than playing a sport because without an education you will find it hard to compete in the real world. Teachers provide that educational footing so their salary should reflect the efforts they put forth. The harsh reality of the situation is that most professional athlete’s end up broke by the end of their career because of the lack to education and poor investments so tell me where the money should go.
JW
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Responding to Post 5 of Week 3…
O’Sullivan, Sheffrin, and Perez explain marginal utility as “the change in total utility [satisfaction experienced from consuming a good] resulting from getting one additional unit of a good.” An example of marginal utility for me would be that I love cake, and for each additional piece of cake (unit) I get I am more satisfied (change in total utility). When it comes to the law of diminishing marginal utility it states that “as the consumption of a particular good increases, marginal utility decreases” (O’Sullivan, Sheffrin and Perez). To apply this law to my cake example would show that for each additional piece of cake, after my first piece, will…
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