High celebrity payments a tax on ignorance

Chinese media is fuming over the rapid rise in celebrities' incomes. In 2016 Actress Zhou Xun netted an astounding 95 million yuan ($13.77 million) for a leading role in the TV series Ruyi's Royal Love in the Palace. Sun Li, Zhao Wei and Wu Yifan were also paid tens of millions of yuan. Celebrities' payments are growing faster than housing prices.

What are we supposed to make of this? Not much really. There is little point arguing whether actors deserve the astronomical payments.

This is not a fair world to start with. Celebrity payment, though absurd, is governed by the laws of demand. Where there is a demand, there is a market. If the balance tilts, the invisible hands of the market will adjust it.