Quote:
Originally Posted by BishopMVP
I haven't looked at the numbers too closely, but I assume you're allowing some stories about Yankee Stadium or its ilk to color your perception here - MLB teams make a much higher % of their income from volume of fans, merchandising, and TV revenue than the few white-collar people sitting in the front row talking on a cellphone everyone likes to make fun of. The one sport where luxury boxes go for the most is the NFL - and clearly the majority of their income comes again from a TV contract, which can't be biased towards 1% of households.
On the larger point some are making, I do think the transition away from allowing creative destruction to take place has killed economic growth while supporting those who currently hold the wealth.
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Again, I was simplifying things. TV contracts raise a more interesting point, but I could still see how they're connected. Although viewers draw in advertisers, the people deciding how much to pay for ads and the TV deal itself are by and large those in the top of the income distribution.