No, it isn\’t, as Jim White tells us, simply an outbreak or manifestation of greed. Nor is it that some chav is getting above himself, not knowing his place in the scheme of things (recall, we used to have maximum wages in football, to make sure such a shocking thing never happened).
It\’s a simple effect of the structure of the business. When you\’ve a business which depends upon human talent, slight gradations in said talent, then all the money in the business will end up in the hands of said talent. This is as true of banking as it is football, movies or, dare I say it, the writing of books.
Those who have that extra 10%, 1% even, will see their prices bid up as the moneymen compete with each other to employ that extra 10%, 1% of talent.
It\’s analagous as to why the workers\’ wages in general rise over time. As productivity rises then the capitalists are competing among themselves for the ability to employ that now newly more valuable labour. Thus wages in general get bid up.
Banking, football and movies are simply extreme examples of the general rule. And the only way to stop it is to have some version of monopsony: where there are not different employers bidding up the wages.