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- Title
THE PECULIAR ECONOMICS OF PROFESSIONAL SPORTS.
- Authors
Neals, Walter C.
- Abstract
The article studies economics of professional sports in the context of the monopoly laws and the constitutional prohibitions against slave labors. Professional sport promoters and owners of professional teams have long claimed a special position in respect to the monopoly laws and the constitutional prohibition against slave labor, and they have been deservedly successful in appeals to the U.S. Congress. It informs that it is clear that the ideal market position of a firm is that of monopoly, whether to maximize profits or to maximize the comfort of life. If one considers the monopoly laws, the ideal position is as close to monopoly as the antitrust division will permit without prosecution. The first peculiarity of the economics of professional sports is that receipts depend upon competition among the sports personnel or the teams, not upon business competition among the firms running the contenders, for the greater the economic collusion and the more the sporting competition the greater the profits.
- Subjects
UNITED States; PROFESSIONAL sports; ECONOMICS; ANTITRUST law; SLAVE labor; SPORTS
- Publication
Quarterly Journal of Economics, 1964, Vol 78, Issue 1, p1
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1880543