Build, Renovate, Destroy

[Originally published by the American Spectator]

 

There have long been two absolutes about sports stadiums, at least when built in America’s big cities. The first is the willingness of public officials to subsidize them, using hundreds of millions in taxpayer money to build monoliths that will supposedly spur jobs and redevelopment. The other is the substantial economic literature claiming that such benefits never materialize enough to justify the handout. In the last dozen years these notions have collided, as cities like Cincinnati, Detroit, and Miami have continued with the status quo, and funded new stadiums, while others, rather than bowing to billionaire owners, have watched their sports teams flee.… Read more

Read More