Not saying that Clayton Kershaw doesn't deserve the contract, he's having a season to remember and definitely a Cy Young season, but no human alive is worth 200M especially for just playing a game. I'd like a cap and see the money in the MLB get ranged in a bit, but knowing the MLBPA they're not going to let a cap be put in place because it'll effect their bottom line...and who wants that?
One argument I hear is that not having a salary cap helps MLB lure away some talent that would be better suited to be playing in the NFL or NBA because the money on the contract they signed is fully guaranteed and usually higher than what the NBA offers. That may be true because there are players who get into the game just to get paid and take care of their families. In my opinion the NBA has it right. They have fully guaranteed contracts as well, but there is a salary cap that helps keep the salaries from getting out of control (which is what I believe is happening in the MLB). The highest paid player in the NBA is Kobe Bryant at 30 million and as huge as that number is he's a definite Hall of Famer with several championships under his belt. So there's reason behind his salary, but to give a Cuban defector 60M on promise and a couple YouTube videos is a bit irrational, but that's just the baseball landscape.
Just wait until Mike Trout is in line for an actual contract. The Los Angeles Angels of Anaheim have a helluva dilemma in ahead of them. Mike Trout in his first year in the majors came in second place in the MVP voting won a Rookie of the Year and a Silver Slugger award plus he hit 30 homer runs and stole 30 stolen bases and is a defensive dynamo in that Angel outfield; and did I say that was just his first year in the majors? The Angels are going to be saddled with three huge contracts and only one really earning his money.