Tuesday, July 28, 2015

Say it Ain't So, Joe

Ted Mondale (yes, that Mondale) says the assertion that the new Minnesota Vikings' stadium is $50 million over budget is "patently false." Well, good...for a minute there I was worried. Then again, what's $50 million when you've already thrown in half a billion.

The country's been on a stadium building binge the last few decades and these billions in Keynesian stimulus have done nothing for the economy as a whole--and (as the WSJ graphic shows) have done very little for the sports leagues or teams themselves. Talk about corporate welfare--if we can't collectively say 'no' to billionaire owners and millionaire players--not to mentioned, pampered fans, then we can't quit subsidizing anything and may as well 'throw in the towel.' Sorry, but it's as simple as guns and butter--if you spend it on sports stadia you're not letting the private sector invest it in something more productive.

Folks, all the subsidies in the world won't make something economically viable that isn't; and that which is economically viable doesn't need the subsidies in the first place.

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