Week 3- The Economics of Baseball
Money drives the world of baseball and all other sports in America. Billions of dollars go into stadiums, player contracts, and team equipment every year. The main focus for the economy of baseball in the Tuesday articles were the economics behind baseball stadiums. I've always wondered why the cities have to pay for new stadiums and after reading these articles it seems to be due to greed from the owners of the corporations, as stated in "Major League Baseball, like the NFL, ask taxpayers for free money". These corporations leverage and strong arm cities to get their stadiums payed for. Citizens of the city, rich and poor, are paying for a stadium that the billionaires at the top would have no problem funding. In addition to having to pay for the stadiums through taxes, several people see gentrification in their neighborhoods due to these new stadiums. That is a good thing for some but can be bad for residents that are no longer able to afford their property due to ris...