Thursday, 31 May 2012

Well said, that man

Economist Dennis Coates writing at the Sports Econmist blog,
As readers of The Sports Economist are well aware, evidence that sports franchises and stadium and arena construction generate large impetus to economic growth and urban development exists only in the minds and reports of consultants to sport franchises and their rent-seeking employers. Subsidies for such activities is especially troubling when city and state budgets are in disarray with service reductions and layoffs of public employees from teachers to police and firefighters.
Subsidies for such things are also very troubling when your city is trying to recover from massive earthquakes. Christchurch City Council please take note.

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