Salary caps in professional sports are hardly the product of some Nordic idealism. Clearly, the main rationale of the salary caps is to control costs. It is what a cartel of team owners does to limit how much of the proceeds go to players and, by implication, increase the amount that goes to them. But it has the virtue, and this is the stated reason for the caps, that it ensures some degree of equity between the teams, making the season much more interesting to watch. Unlimited money creates too much inequality, with the result that within a league only a few teams ever have a real chance of
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