This is really a ridiculous argument, essentially it comes down to two schools of thought:
1) The college fan who wants to see these kids go to his alma mater to make his team better. Thus making college basketball relevant again
2) The pro fan who feels that high schoolers are bringing down the quality of play.
Here's the problem with #1, a kid who wants to go to the NBA without college has no right taking a spot away from someone who wants the college experience. Why should a scholarship be taken away from someone who intends to graduate just to make college basketball better? Colleges are higher education institutions and should be only for those who want/need the degree and the other things you get from college. Also, nothing stops a kid from going back to college when he wants to, except instead of being held hostage by the system he can use his own wealth. See Kevin Garnett for example. College basketball fans rarely care about the kids coming through their program, they only care about their conference or their alma-mater.
The problem with #2 is that we aren't holding the adults in positions of power accountable. These are professional executives who should be basing their decisions on what helps their teams. If they cant help themselves from drafting high schoolers then that's on them. If they want kids to not come straight out of high school, then dont draft them. Why do they insist on drafting kids with no college basketball experience? Ask San Antonion if they would have preferred Tony Parker to not come to the NBA before college, ask Minny if they are disappointed with Garnett, ask the Lakers if they would rather have kept Eddie Jones vs. trading for the rights to Kobe Bryant whom Jerry West claimed had the "best workout he'd ever seen". Ask Cleveland if they shouldn't have taken Lebron James. Out of the last 6 championships, there has been a high schooler who has played a key component in 5 out of those titles.
Forget the hypocrasy of being able to die for your country, or that child actors dont have an age limit, or tennis players, or hockey, or baseball players. At some point people should stop trying to condemn the young kids coming out of high school to petty wages, and instead see the other side of the coin.
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