By Arnold Kling
Henry Aaron (the economist, not the former baseball star) writes,
The proposed deal imposes huge costs on the District and gives virtually all of the financial gains to the team. The city will bear the burden for years to come, while enjoying little real financial benefit from baseball’s presence here.
…Numerous studies have shown that large stadiums, surrounded by parking, do little to promote economic development.
But why look at cost-benefit analysis when a sports columnist can see with his own eyes what a great thing stadiums are? Michael Wilbon writes,
I can’t believe the stupid junk I read from academics who spin their silly obstructionist excuses on what stadiums don’t bring, when all you have to do is look at what they actually contribute in Cleveland and in Denver
For Discussion. What are the negotiating advantages of the District of Columbia and major league baseball, respectively?