Don’t be fooled by quantitative sophistry

[link removed]

October 3, 2024

Welcome back to The Lighthouse ([link removed]) , the weekly email newsletter of the Independent Institute covering politics, economics, current events, and everything in between.

Dear Readers,

After nearly two decades of considering a relocation, the Athletics have played their last game at the Oakland Coliseum.

It was a bittersweet end to a 57-year run in the East Bay for one of the most successful sports franchises in history. From the Swingin’ A’s of the 1970s, to the Bash Brothers of the ‘80s, to the Moneyball era of the early 2000s, the teams they fielded always had a special je ne sais quoi that personified the persistence and grittiness of the Oakland community.

But amid the news surrounding the Athletics’ search for a new home, the consequences of public funding policies have been overlooked. Cities often find themselves caught in a tug-of-war between team owners seeking public funds for new stadiums and taxpayers wary of footing the bill. Unfortunately, it's not just Oakland that is faced with this dilemma. Recently, Erie County, New York, announced a sale of “Bills Bonds” as part of an $850 million public funding package for the NFL’s Buffalo Bills.

This week, we’re highlighting the problems surrounding the funding of sports stadiums, and discussing the causes, consequences, and remedies.

Jonathan Hofer
Managing Editor

Top picks this week
[link removed]


** MLB in Oakland Dies as Billionaire Owner Cashes in on Vegas Taxpayers ([link removed])
------------------------------------------------------------


** by Craig Eyermann
------------------------------------------------------------

Using tax-exempt municipal bonds to fund sports stadiums for professional sports teams is a very bad deal for taxpayers at all levels: local, state, and also federal.
Read More ([link removed])
[link removed]


** Is Las Vegas Rethinking the Oakland A’s Gamble? ([link removed])
------------------------------------------------------------


** by Craig Eyermann
------------------------------------------------------------

There are signs that Las Vegas and the state of Nevada are getting genuine buyer’s remorse over the relocation of the Oakland Athletics after approving $380 million in public funding for the A’s new stadium.
Read More ([link removed])
[link removed]


** The A’s Skip “The Town”: What Cities Can Learn from Oakland and LA ([link removed])
------------------------------------------------------------


** by Jonathan Hofer
------------------------------------------------------------

Los Angeles shows that cities do not need to resort to subsidizing professional sports teams with public funds.
Read More ([link removed])
[link removed]


** How To Stop Subsidizing Stadiums: Follow the College Model ([link removed])
------------------------------------------------------------


** The “fundraiser” model for stadium expansion is becoming common among colleges seeking new accommodations for sporting events ([link removed])
------------------------------------------------------------


** by Scott Beyer
------------------------------------------------------------

Sports teams often go to the taxpayers for stadium funding, but they should really follow the model that many college teams have with their stadiums: hold fundraising campaigns with boosters and fans.
Read More ([link removed])
[link removed]


** Boosters Beware: Stadiums Aren’t Magic ([link removed])
------------------------------------------------------------


** by Art Carden
------------------------------------------------------------

Stadium boosters frequently come to the table armed with “economic impact studies,” which are attractively produced and presented by attractive and persuasive professional people. They rely on a credulous public who gets wowed by phrases like “multiplier effect” and quantitative sophistry.
Read More ([link removed])


** FEATURED BOOK
------------------------------------------------------------


** Priceless ([link removed])
------------------------------------------------------------


** Curing the Healthcare Crisis ([link removed])
------------------------------------------------------------


** John C. Goodman
------------------------------------------------------------

In this long-awaited updated edition of his original groundbreaking work, renowned healthcare economist John C. Goodman analyzes America’s ongoing healthcare fiasco—including, for this edition, the failed promises of Obamacare 10 years in.
[link removed]
[link removed]
[link removed]
[link removed]
[link removed]
[link removed]
[link removed]
mailto:[email protected]

You received this message because you are subscribed to The Lighthouse.

Independent Institute, 100 Swan Way, Oakland, CA 94621-1428
Manage preferences ([link removed]) | Unsubscribe ([link removed])

Copyright © 2024 Independent Institute, All rights reserved.