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 . . . . . . . . . . . .

Saturday, January 15, 2005

When will Randy Moss Go Bankrupt?

Perhaps I have been overly influenced by the mediots of the MSM (mainstream media), but I have to wonder how smart Minnesota Vikings wide-receiver Randy Moss really is. According to his agent (from a radio interview I heard during my commute), Moss is very smart and would do well in any occupation, which implies he is earning very small rents from being a wide receiver in the NFL. And yet the MSM suggest, based on his actions and interviews, that he is not very smart.

If the MSM are correct, then what alternatives will he have for earning an income when his football-playing days are over? If he is, indeed, earning considerable economic rent as a football player, then how is he different from the typical, financially naive person who wins the lottery? If the situations are analogous, give him seven years, maximum, after retirement before he loses everything.

If, however, he is smarter than the MSM give him credit for being, and/or if he has hired some good financial advisors, he will do well for a long time.

This would be a great contract for Tradesports to offer.
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