Arsene Wenger feels football should not be "punished" for paying high wages, as long as clubs live within their means.
It is 50 years ago this month since the £20 weekly maximum wage was abolished in English football.
Much has changed in the last half-century, with some Barclays Premier League players reported to be earning more than £200,000 a week.
Arsenal have been held up as an example of sensible financial governance by UEFA, who are set to implement tough new financial restrictions on what clubs can spend.
Wenger believes provided teams can keep within their resources, then they should be free to agree whatever deals are appropriate for players.
"Why would you just want to punish football? There are plenty of people out there who make much more money than footballers," Wenger said.
"What you want is that every company is managed in a responsible way, that is the first step our society has to go.
"I don't know why if a company makes a £50 million profit, people in the company shouldn't be rewarded. That would mean only the owners would be rewarded, that would be unfair.
"People that work in the company have to get their share of the success of the company."
Wenger added: "If you want to limit wages in the whole society, why not? But that needs a complete debate and is more political than sport."
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