Not long ago, I posted a blog entry with a video by Robert Reich.
Well, I'm doing it again. In this video, Reich breaks down what amounts to a scam: the owners of sports franchises demanding publicly-funded, expensive new stadiums and arenas, and threatening to relocate their teams if they do not get what they want.
One of the justifications for this always seems to be that it will be good for the local economy. But Reich points out that, in fact, this is a fallacy. By and large, these stadiums cost the taxpayer a tremendous amount, and the benefits for the community remain, at best, negligible.
Take a look at the video below:
The Sports Stadium Scam | Robert Reich
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