Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Friday, December 17, 2004

Cato and the D.C. non-stadium

Tom Palmer (no relation) posts on his blog that the Cato Institute's opposition to municipal funding for a new baseball stadium probably played an important role in the District council's opposition to the plan. The Cato piece was written by Coates and Humphreys, two really bright guys who have done some pretty convincing work to show that local multipliers for major league sports are negative!!
That result is consistent with what many folks in Winnipeg have told me about their loss of their NHL team - the team siphoned so much out of the city that it is better off, overall, without them.
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