Market Restrictions...
So Worstall looks at the data for racism in football, and concludes that "markets beat racism"? But football isn't a free market - the number of jobs is highly restricted, the employer can't decide to replace the 11 "Premier League" players with 22 players who each cost half the price. The number of slots in the Premier League is restricted too. So, it seems highly dubious to reach a general conclusion based on something that is so far from the normal situation.
I'll admit to not understanding the value proposition for fans, too... At first sight, fans are buying 90 minutes of entertainment, but is the entertainment value of a match between two Premier League teams so much higher than the lower leagues with lower ticket prices, or even an amateur match? Are the fans, in fact, buying the feeling of being a member of a group of 50,000 like-minded people?
Biting the hand that feeds IT
