Theory One: Sports Stadiums Reallocating Jobs & Hindering Growth
Sports stadiums are one of the most exciting additions to a city. Everyone loves for their team to get a new stadium. However, a new stadium may appear to bring new jobs to a city however it just reallocates them. Typically this means that workers will be only gaining temporary, low paying jobs. As fans go to a new sports arena for a game this draws customers away from local restaurants and venues. This cuts into the revenues and profits of these businesses and eventually causes them to cut employees. These employees. So as employees are hired at the new sports venue other workers are losing their jobs with local businesses. Moreover, people are drawn from surrounding areas to
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attend sporting events at the new venues and this take money of the local economies these people are coming from. Some would argue that sports stadiums create more construction jobs to help build the stadium.
However, these construction jobs ultimately disappear as soon as the stadium is finished. This hurts the overall local economy as the stadium is only helping to provide only temporary employment. Additionally, many local governments tend to subsidize sports venues. By subsidizing these venues the local governments are overlooking what consumers in the economy would otherwise spend their money on. The local governments fail to recognize that jobs and consumer spending are not be generated but just reallocated from existing local businesses and venues.
The Arizona diamondbacks are a good example of how a new stadium failed to generate more local jobs and boost consumer spending. The new baseball stadium only created a few thousand temporary jobs and was costly to taxpayers as the stadium was subsidized by local government.
Theory Two: Broken Windows
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Theory The broken windows theory is that if you leave small crimes such as breaking windows unpunished, then it will lead to more crime overall as it shows criminals that you don’t care. This photo represents the expanded justice department and police force that was implemented to help stop crime on all levels and deter criminals. There are many ways to attempt to stop crime at the lower levels and overall, however, only certain methods seem to work. From 1991 to 2001 New York City increased their number of police officers by 45 percent. However, the relative number of crimes didn’t decrease even though they had 3 times the number of officers over the national average. Drops in crime rate did occur due to several other possible reasons. These reasons include a strong economy, an increased reliance in prisons (harsher punishment), an increase in capital punishment, innovative policing strategies, tougher gun laws, an aging population, and an increase in abortions. Stricter gun laws themselves didn’t help to lower the homicide rate due to the fact that most guns used in crime are illegal guns, however, increased prison time for illegal weapons did seem to help lead to lower homicide rates.
Abortions also had an impact on the crime rate in communities. Before 1973 low income women had no choice but to put children into bad situations growing up. Commonly referred to as “crack babies” these kids were put into unstable, unhappy situations which put them at an increased chance to commit crime. However, following Roe v. Wade these mothers had the choice to have an abortion and thus not having a kid meant that the child could never get the chance to commit a
crime. Theory 3: Vouchers and Low Income Housing Policy The federal government spends approximately 50 billion per year on low income housing including public housing, vouchers, and subsidies. This is opposed to approximately 80 billion subsidizing home ownership for high income households making over 100,000 dollars a year. This is important to note as 70 percent of eligible low income households do not receive assistance. Public housing is continually cut in funding or shut down by the government, this puts the responsibility on local housing authority. This leads to homes that are very low satisfactory for the residents and does not meet their utility curve. Households are indifferent between $200 in cash or $300 in housing subsidies. Comparatively, voucher programs for houses don’t seem to help the situation either. A low income family now can afford moderate quality housing with the assistance of a voucher. This means an increase in demand for moderate quality housing without a change in supply. This raises the price for other families. Moreover, as apartments can charge more, they upgrade their properties to moderate quality from low quality housing, so now the 70 percent of families that are not receiving vouchers are priced out of the market. To counteract these issues a low income housing tax credit has been developed. The first aspect of this is that a certain percent of dwellings must be rent restricted. Then these dwellings must be filled with 20 percent of people who make no greater than 50 percent of the local median income and at least 40 percent must not make more than 60 percent of the local median income. The max rent cannot be greater than 30 percent of income of the occupant. Then the builder of the housing development will receive an annual tax credit of nine percent of the project’s cost to build the housing. Theory 4: Wage + Amenities – Housing Costs are constant across cities There is an equilibrium for the wages, amenities, and housing costs across cities. If a has wages of $2,000 and amenities equaling $400 and another city has wages of $1,500 and amenities of $900 then both cities must have a housing cost equal to one another. However, as in the case of this picture new amenities such as a park and concert venue maybe built. This raises the amount of amenities in the city. This will raise the equilibrium that both cities must have the same. In this case an opposing city will either have to lower housing costs, raise wages, or create more amenities for their own city. The equilibrium must be constant across all cities or one city would be overrun by people. This picture represents how a city can strive to improve amenities to either raise the equilibrium across the board or match a change in the equilibrium of another city. This specific picture is of Lock 3 in Akron. The mayor of Akron is actually an Economics graduate form Kent State which is interesting to think about seeing the initiatives he has and is attempting to put in place could’ve been learned right here at Kent State. Theory 5: Casinos and their impact Casinos to an area seem like a great idea on the surface. More jobs, more money, more people drawn to a city. However, casinos create an impact that has more far reaching effects on a local economy. Just as with sports venues casinos do create some jobs, most of which are low paying and temporary, but most importantly the casino only reallocates the jobs from other businesses in the community. As the casino takes more of the consumer’s money, they will spend less at local businesses and those businesses will then have to cut jobs, creating a wash on the number of jobs created. Secondly, casinos draw bad people and businesses to an area making a city less attractive for people to move to. Increased loan sharks, pawn shops, and adult entertainment venues draw bad people to the area and increase crime in a city. This away innovative workers and thinkers as well as pushing investment away from a city. Another important factor to consider is that the casino will only generate low paying jobs. So as local businesses cut employees and shut down due to customers spending their money at the casino instead, those employees who are out of work are now forced to work at the casino making less than hey originally did. Since they are making less, they cannot stimulate the local economy as much. This hurts businesses all over the city. Moreover, this forces people to move to lower income areas, commit more crime in order to supplement their income, and move away from an area. The jobs created by the casino ultimately end up damaging the community more than aiding it as people are forced to change their way of living due to lower paying jobs.
...clusion the “Sports Construction Era” ballparks are a radical change in the way we experience a major league baseball game. The radical changes benefit both the baseball club and the fans. Finally the new style of construction employed by these three “pioneer” cities has been such a success that they have become the standard for the future of major league ballpark construction throughout the country.
To explain the importance a sports team has on a city, a new avenue for future
Some of the most prolific franchises in sports, like the Oakland Raiders and Baltimore Colts of the National Football League, have moved to other cities breaking off their loyalty to the hometown fans. More important than the actual moves are the more frequent threatened moves. When teams “play the field” and explore the option of playing in other cities they are able to lure interested cities into giving them just about any royalty they want. New stadiums are only the beginning. The willingness to threaten departure has secured for teams a variety of land deals, lower taxes, more revenues from parking and concessions, control of stadium operations, guaranteed ticket sales, renovation of stadiums with luxury seating, control over neighborhoods and transportation systems, and that’s only the beginning of the list.
Siegfried, J., & Zimbalist, A. (2000). The economics of sports facilities and their communities. The Journal of Economic Perspectives, , 95-114.
...began to fall roughly 18 years after abortion legalization,” and that the social benefit of this decrease in crime is about $30 billion annually (F-Levitt & Dubner). The crime reduction rate from the legalization of abortion occurred because of the abortions was mostly done by impoverished mothers and teenage parents. Due to the reason that the unborn children were at a high risk of being neglected, abused, and inadequate caregiving shows a high correlation that abused children are more likely than others to live a life of crime.
Abortions have been performed for thousands of years. In the 1800s abortions began to be outlawed. The reasons for anti-abortion laws varied for each state. Some people did not want the world to be dominated by newly arrived immigrants. Abortion in the 1800s were very unsafe due to the fact that the doctors had a limited educations and hospitals were not common. The outlawing of abortions from 1880 to 1973 led to many woman attempting illgeal abortions. (add author). Almost two hundred women died from attempting illegal abortions in 1965. Between two hundred thousand and one million illegal abortions were given each year. In states where local laws restrict the availability of abortion, women tend to have the lowest level of education and income. Additionally, in those states, less money goes toawrds education, welfare, fostercare programs, and adoption services. (Anderson, 5).
Abstract: The Stadium construction boom continues, and taxpayers are being forced to pay for new high tech stadiums they don’t want. These new stadiums create only part-time jobs. Stadiums bring money in exclusively for professional leagues and not the communities. The teams are turning public money into private profit. Professional leagues are becoming extremely wealthy at the taxpayers expense. The publicly-funded stadium obsession must be put to a stop before athletes and coaches become even greedier. New stadiums being built hurt public schools, and send a message to children that leisure activities are more important than basic education. Public money needs to be used to for more important services that would benefit the local economy. Stadiums do not help the economy or save struggling towns. There are no net benefits from single purpose stadiums, and therefore the stadium obsessions must be put to a stop.
In a 2006 study conducted by the CDC, it was reported that 53-56% of abortions were performed on white women between the ages of 20 and 29. Among the 46 states that provided data consistently during 1996--2006, a total of 835,134 abortions (98.7% of the total) were reported; the abortion rate was 16.1 abortions per 1,000 women aged 15--44 years, and the abortion ratio was 236 abortions per 1,000 live births. During the previous decade (1997--2006), reported abortion numbers, rates, and ratios decreased 5.7%, 8.8%, and 14.8%, respectively; most of these declines occurred before 2001. During the previous year (2005--2006), the total number of abortions increased 3.1%, and the abortion rate increased 3.2%; the abortion ratio was stable. (CDC, 2009)
The phenomenon was mainly caused by a dramatic investment increase or excessive social and psychological expected at the pre-Olympic stage. Normally, it will lead to a waste of infrastructure, facilities idle, the Olympic host city real estate prices fell, and the stock market fell, in part or in overall economic growth slow down after the Olympic Games. According Josh Sanbum’s report “For years, studies have shown that holding the Olympics often has severe negative economic effects on host cities, despite the temporary burst of tourism and global attention. The competition between cities often causes governments to go financially overboard merely to win an Olympic bid. Once construction gets under way, governments often fail to budget properly. And after the Games are over, many cities are left with infrastructure that suddenly has no real use.” (2012).That shows the Olympic Games often has serious negative economic effects on host
...port. As it now stands, they are as good as disenfranchised- a vast number of the taxpaying public who will never set foot inside these stadiums and arenas” (as cited in Jarvie, 2012).
According to CNN (cable news network), since the legality of abortions by the supreme courts in 1973, the number of abortions has increased gradually. The CDC (centers for disease control and prevention) reported 1,292,606 abortions in 1980. The number count continued by millions until the year 2000. Rates began to decrease, but the numbers still remained high. 2009 is the year CDC has recently given reports on the statistics of abortion in the United States. The ratio in that year has been 227 out of 1000 live births. 64% of abortions legally induced were performed at eight or fewer weeks during the gestation period. Women ages 20-29 were the 57.1% who went for an abortion. 51.2 % of the women were white (including Hispanic and non-Hispanic white women) 41.2% of the women were black, and 7.6% of adult females from other races. The top three states with the most abortions were: New York, Florida, and Texas. The statistics shown is inco...
Madison Square Garden is one of the most recognizable and famous sporting arenas in the entire world. It is a multi-purpose indoor arena located in New York City between Seventh and Eighth Avenues from 31st-33rd street. Madison Square Garden is often referred to as MSG or The Garden and hosts sporting events, concerts, circuses and many other family friendly events. What MSG is most known for is being the host of the New York Knicks an NBA team and the New York Rangers which is an NHL team.
Sports are one of the most profitable industries in the world. Everyone wants to get their hands on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports have drastically changed over the last ten years.
While local neighborhoods may benefit from stadiums, at a city-wide level the benefit is negligible at best. Taxpayers have grown tired of paying for stadiums for the rich to profit off of, it’s become difficult for the public to get a return on investment in recent years. LA Times’ Natalie Kitroeff states that “Football stadiums aren't spurring local economies, a growing body of new research shows, because they're used infrequently and don't offer consistent, year-round employment. The facilities are also becoming more expensive, especially over the past two decades as owners have pushed for renovations, contending that their stadiums need luxury boxes and other niceties to stay competitive” (Kitroeff, 2017). Stadiums don’t spur the local economy, don’t create consistent jobs, and are only increasing in price. Local businesses don’t benefit either, because stadiums today are often designed to consolidate dining and shopping as a part of their experience. The cost of stadiums for taxpayers has never been worth it, but as time goes on the return on investment has gotten even worse for the
While sports for the spectators are merely entertainment, the economics of the industry are what drives businesses to become involved. Sports have become more of a business entity rather than an entertainment industry due to the strong economic perception of the over all industry. There are several instances in which economics may contribute to the effect on the sports industry, such as: the success of a team, the price of a ticket, the amount of money an athlete will make, and the amount of profit a team will make. The success of an...