With all due respect Bestmate, I do feel you fail to grasp the realities of getting the right jockey for a horse. Doesn't have to be the toppest jock, but horses have their individual style of running and to give a horse the chance of running to his /her best, you need a jock whose style and capability suits that horse and one that will try to win.
Be aware that very many flat jocks are just journeymen, they turn up, get paid, if you are lucky they might bother and understand the horse and give it a good ride, but they are just as likely to doff their caps and mutter something about needing further, disappear and pocket their fee. There is so much racing now, they can get away with it.
If you happen to have decent horses, better jocks - or their agents - will be vying to get the ride. So why should an owner pay those jocks more, if they do their job properly they will get a share of the prize money and they are already paid well in the standard riding fee.
A seperate point is that the cost of owning and running horses increases significantly each year, whilst prize money declines. Another significant increase in costs will simply lead to less horses in training. Don't run away with the idea that every owner is a sheik, there are many partnerships, etc where a few mates club together to buy a horse, these people don't hav unlimited money.
richard