Putting public funds into arenas has some benefit, but not enough to justify millions
(NEWSER) - Professional sports stadiums have seen an enormous boom since 1990, often drawing on millions of dollars in public financing. Economics professor Dennis Coates, writing in the American, examines whether the expenditures actually benefit local economies—and finds the answer a general "no." Stadiums actually reduce per-capita income, drive down wages, and divert spending from other areas. Further, he argues: More»
