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The highest-paid baseball player earned $2.3 million in the 1988 season, $6.3 million in 1994 and more than $20 million last year. CEOs got 40 times what the average employee in their company earned in 1980, and 400 times by 2000. The Olympic gold-medal winner who won a nation's praise and an endorsement or two in the 1970s became an endorsement bonanza by 2000. Who would settle for less when they are bombarded by ads like Nike's during the 1996 Atlanta Olympics: "You don't win silver. You lose gold''?
The winner-take-all culture exists in almost every area of American life. Science Magazine, the most prestigious in its field, has reported that in bioscience, what economists call a "tournament market'' exists: The first to make an extraordinary finding reaps a hugely disproportionate share of the fame and future grants...
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