Woe is me, the sky is falling . . .
Posted on: September 12, 2019 at 21:35:01 CT
ScottsdaleTiger MU
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The statute merely allows players to be compensated for their "name, image and likeness". It essentially creates a market for the "names, images and likenesses" of college athletes.
You are assuming the market will be completely free and unregulated. However, the statute says absolutely nothing about whether the market will be regulated and, if so, how and by whom.
The American economy has numerous regulated markets, i.e. the classic example is public utilities. Another example is the minimum wage. A third is overtime pay.
Essentially, the things that you are complaining about can all be addressed through market regulation.
And I have no doubt that the NCAA would be first line with a proposed market regulation scheme, one that it would of course implement and administer.
The Power Five and Group of Five schools have an interest in seeing college athletics continue to function and prosper. It's amazing how "problems" can be resolved when it's in everybody's economic self-interest to do so.