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This project investigates the factors influencing the rise in salaries of Major League Baseball players from 1966 to 2013. It analyzes whether increased talent, greater fan engagement, or heightened living costs are the primary reasons. Guided by the hypothesis that rising salaries are driven primarily by the cost of living and inflation, the research compares average salaries of key players across decades, highlighting how a dollar's value has changed over time. The findings reveal significant disparities in earning potential influenced by these economic factors.
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My Question • Has a rise in talent, rise in fans, or a rise in the cost of living been the reason for the increase of salaries in Major League Baseball players from the 1966 to 2013.
Hypothesis • I thought off the bat that the reason for the increase in player salaries was: • an increase in the cost of living • and the inflation of US currency
Salaries • Average Salary of Al Kaline- $ 53,454 • Average Salary of Robinson Cano- $ 6,430,200 • Average Salary of Sandy Koufax- 35,916 • Average Salary of Clayton Kershaw- 3,307,333
Ratios • 2013 Cano /1960 Kaline -15,000,000 /54,000= 277 to 1 ratio • 2013 Kershaw/1960 Koufax –11,000,000/125,000= 88 to 1 ratio
Cost of Living • A dollar in 1966 is the equivalent $7.19 in 2013. • This shows how an increase in the inflation of the US currency has changed how MLB players’ salaries have risen.
