Earlier quoted context omitted.
> get shoved into management long before his age. Problem is that management pays so much better than a contributor of code. Society has collectively decided that management is worth more economically, than individual contributors.
Because good managers are hard to come by so you have to give some sort of incentive to attract and retain the good ones. Good managers increase the output of their team, bad ones try to make themselves look the best.
That's a nice economics just-so story. But do people think that the median manager is effective? I'd say less than half of my managers have been effective. Some of them even got promoted.