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July 17, 2014

"Economist: LeBron James Worth Almost $500 Million to Cleveland"

Unusual for articles of this type, the work is shown.

Comments

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William Sjostrom

Ick. Just another one of those fraudulent economic impact statements. You know, the kind that assume that because people don't spend their money on one thing, it just disappears rather than being spent on something else.

Gene

I wonder what the net impact will be overall. I understand that spending will go forward in Cleveland but what about the subtraction from Miami? It is a zero sum game in the end.

Also, I agree with William---spending does not occur in a vacuum, unless you are buying a vacuum.

Patrick R. Sullivan

I say, nice example of the broken window fallacy.

Eric Falkenstein

So, that makes Cleveland worth about $517MM? (I grew up there...it's gone downhill).

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