It's a free country and these young men, largely from very poor backgrounds, should be free to maximize their income as soon as they would like.
Yet training in some form or another is required for most high paying jobs. Why should athletics be any different?
Because athletics is talent-driven. Tech companies are similar, they don't let the lack of a degree stop them from hiring someone if they're a genius coder. "Oh wait, I notice that you didn't finish college. Mmmm, I'm sorry, we can't hire you then."
The only reason it's possible is because professional sports leagues are a government-supported monopoly in the USA.
Let's say there are two basketball leagues. One has no age limit and one does. Which league would get the best players and how fast would the league with the age limit change their policy?
You have to be a liberal, right? Don't agree with a rule or policy because it "isn't fair." I would hope the league is more concerned with protecting the quality of its product than what people think is fair. Also, there are plenty of pro basketball leagues that don't have an age rule, and aren't as successful as the NBA, so no I disagree with your hypothetical which clearly wasn't very well thought out.
Wow, that makes no sense at all. Conservative dogma is that the markets should be free. However, American sports leagues have protection from the government which is why there used to be competing leagues within one sport but were then all consolidated into one. At this point the leagues are so powerful and established that starting a competing league would be unfeasible. The pro sports league owners enjoy publicly funded stadiums which they then get to own and collude with their fellow owners to lockout players and force them to accept their terms. Since there is no other comparable league the players have very little leverage.
Yes, it's true that every company is different and has different hiring standards. However, the point is that DIFFERENT COMPANIES EXIST to offer competition. It would be illegal for tech companies to collude and artificially decrease all starting salaries for their hires. However, this is normal practice in the NBA. There is no other legitimate option for these athletes' services because the owners have banded together precisely to prevent it.
The owners do not have a gun to their head when they give out a guaranteed deal. The reason they do it is because there isn't enough talent to go around and they have to overpay even for average players. However, this is balanced out by the unfair, below-market deals rookies are forced to sign and the max contract limit on superstars. If you're going to complain that the money isn't going to players who deserve it, you have to also argue that LeBron James should probably make 150 million dollars a year not just for his on-court contributions but for selling the league worldwide.
The owners can't have it both ways. They limit what stars and rookies can make, then complain that mediocre players are soaking up all the excess money? This is the system they agreed to! If the cap is 70 million and you only have to pay your superstar 20, of course that extra 50 is going to be going to some overrated players by comparison. They kept expanding the league in the pursuit of money, then found out it meant there would be less and less of the truly elite talent to go around. That's when mediocre players get overpaid.
Finally, I don't understand how anybody can say the rookie contracts are risky and need to be limited when they already are so! Draft picks are a great way to fill your roster with cheap, controllable players. If you do get a bust you don't have to pick up their option, but how often does that happen? A player has to be a total, incontrovertible bust these days to not play out their rookie deal to completion. Isn't that the ultimate proof that GMs recognize what a bargain these deals are?
I love these ideas to modify and improve the system and the game. However, the age limit is a bad one that penalizes the players unfairly. It's just a convenient workaround to try and hide problems that exist with the draft, wage scale, the NCAA, the NBDL, etc.