Trading labour for a degree sounds fair. But the income elite players produce far exceeds the price of their scholarships - which colleges are free not to renew in case of injury or violations of the NCAA's stringent rules on gifts. Many of the excess profits, or "rents", are captured by administrators. In 39 of the 50 states, the highest paid public official is a college coach.
-as excerpted from this essay in The Economist
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