Saturday, September 11, 2010

Sports Stadiums & Public Financing

A former student alerted me to this clip from CNBC (h/t Darryl C.) and has some interesting facts as to the amount of public financing that occurs with sports stadiums. As I have written about earlier in regard to the Olympics, sports economists have not found much economic benefit from the huge subsidies that governments allow for the Olympics or for NFL sport team owners for stadium subsidies, and thus one wonders why economic benefits are alluded to (and usually vastly overstated) as a justification for huge outlays of taxpayer dollars for these stadiums. Check out the clip below.

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