So says Mike Ozanian at Forbes SportsMoney, "the conventional wisdom is that salary caps benefit poorer teams. But in reality they benefit richer teams more."
I've been arguing this for some time now, and I'm glad that the MSM is beginning to take notice. By the way: what's worse than hard salary caps? Soft caps without salary floors.
The point is that payroll effects are relatively weak--if at all significant--determinants of competitive balance. That said, those who criticize the level of competitive balance in baseball can draw support from these findings.