Boudreaux at Café Hayek makes a good point.
When I first tuned in to the “discussion,” the learned sports panelists were debating the appropriate penalty that the National Basketball Association should impose on L.A. Clippers owner Donald Sterling for his racist remarks. All agreed that the penalty should be astronomically high because (in the words of one of the sports-talkers) “two million dollars means nothing to a billionaire like Sterling.”
The very next topic the sports-talkers turned to was the National Football League’s annual draft of college football players. The sports-talkers unanimously and vigorously agreed with each other that the only reason the N.F.L. owners make such a spectacle of their association’s annual draft is to “squeeze every penny of profit from the fans” (to quote a sports-talker, who meant to be highly critical of N.F.L. owners).
Question: does or does not a few extra bucks matter to rich people?
