Hardball Economics
...rom August, 1994 – March 31, 1995. It was a players strike concerning a salary cap and revenue sharing. Unlike this year's Major League Baseball All-Star game — a travesty that ended in a tie — a definitive victor has emerged from each of the eight baseball work stoppages that have occurred since 1972. The players' union has compiled an undefeated record against the owners. And the fruits of those victories since the union was established in 1966 have been clear: The average player's annual salary has increased 125-fold, rising from $19,000 in 1967 (the first year players shared such information with one another) to $2.38 million 35 years later. Indeed, the average salary has more than doubled since the 232-day 1994-95 strike canceled the 1994 World Series and sliced...