Heavy Lifting - thoughts and web finds by an economist
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Wednesday, June 30, 2004


A student in my sports economics class asked me the other day who was the highest paid athlete. His guess was Michael Schumacher, who is an open-wheel race car driver - kinda like the Jeff Gordon and Jimmy Johnson of Europe. My guess was Shaquille O'Neal or David Beckham, but we were both thinking about salaries only and not overall compensation.

According to Forbes, it turns out we both guessed correct about Tiger Woods being the most compensated athlete in the world, whereas our other guesses weren't too far off.

It is interesting that 34 of the 50 play in three of the big four sports in North America, 5 play(ed) golf primarily in North America, and only three(?!?!) play soccer. Given the popularity of the sport worldwide, i.e., not in North America, I would have expected more players in soccer (everywhere else it's called football) being paid a lot of money.

Did you know that Michael Schumacher (born in Germany) actually moved to Switzerland to escape from the high tax rates of Germany. Uncle Sam would be really disappointed if Michael was an American.
schumy is much more talented than the nascar drivers,i mean he drives a drives state of the art $100,000,000 race car that cuts corners more precisely than your human instincts not to mention the 900hp engine in a body that weighs 1300 lbs with a full tank and the driver so naturally he has to have sick driving skills.
Michael Schumacher might have gone to switzerland to avoid taxes but after all he is kind with his money donating £10 million pounds to UNESCO in france, this man has a heart of gold he dosent want petty arguements because of tax avoidance, so give him a break and sto belittleing him, to me he is the best world class driver since Aryton Senna died.
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