Ah, thanks for the info. Can't argue with Harvard. Was mostly thinking about teams like the Pirates, Padres, Brewers, etc. and how inefficient drafting is for MLB. Have any guesses on why baseball has more parity? Do you think it's because big money free agents are usually a bad idea, unlike in the NBA?
Interesting to see the thought in your link about NBA max contracts and how that might throw off parity. NBA max contracts are essentially a joke in that average players get them and nobody cares - in the spirit of the OP, I agree they should be abolished and are solely for owner protection.
Well scratch that question about the NHL having the best parity, I should have read both posts. Thanks for the answer.