Alex Rodriguez

Katie Couric, the "CBS Evening News" anchor who is paid $15 million a year for sinking ratings, can't seem to grasp the concept of free markets in sports.

In an interview with New York Yankees star Alex Rodriguez, Couric questioned his new record-setting contract. The deal includes $275 million over 10 years and another $30 million in incentives, according to ESPN.

"Your new contract is worth $300 million-plus," Couric told Rodriquez, asking, "Are you worth it? Is any player worth that kind of salary?"

A-Rod could have pointed out that Major League Baseball works like any other market - players' services are priced according to what the market will pay for their skills and experience. Someone in the Yankees organization felt $275 million over 10 years was a fair price to pay for Rodriguez.

Rodriguez could have pointed out that he's a two-time Gold Glove winner, a two-time Silver Slugger winner, and a three-time American League Most Valuable Player. He could have mentioned that last season he led the American League in runs, home runs and runs batted in - 143, 54 and 156 respectively.

Or he could have turned the question around on Couric by asking, "Well Katie, you're paid $15 million a year and have seen steady declines in your ratings on the ‘Evening News,' with some weeks reaching record lows. Are you worth it?"

So, did you hear that Andy Rooney made a racial slur last week about baseball players all being named "Rodriguez?"

You didn't?

Well, how could you, for it appears that virtually nobody reported it.

To bring you up to speed, the CBS "60 Minutes" commentator wrote a column about America's national pastime last Thursday, and stated the following (emphasis added):