We'd probably do away with the NFL, NBA, MLB immediately.
Originally Posted by gnadfly
You don't think guys would play pro ball if they were only making, for example, $1mm per year?
Several weeks ago, Bill Maher made the point that the NFL - which is considerably more popular, successful, and profitable than any other professional sports league - is essentially a socialist organization. Truthfully, its more of a collective or a co-op. The NFL shares its largest source of income, TV revenues, equally among its 32 teams. This results in parity that enhances - not diminishes - competition. Small-market teams like Green Bay and Pittsburgh field teams that can compete with teams from New York and Chicago. By contrast, MLB competition is slanted in favor of teams like the Yankees, who have a payroll in excess of $200mm. The MLB is a free-market, and each team negotiates its own TV deal. (Wasn't Ayn Rand a former MLB Commissioner?) Small-market teams only compete every once in a great while, typically only when a few of their heretofore unknown players have breakout years and are lost to the Yankees via free agency. (Sorry, but this is just one more reason why baseball sucks.)
Economic regulation is a inescapable fact of social organization. In fact, from an anthropological perspective, it is one of the first steps in the formation of any society or community. Free-market fundamentalists are not realists. Face it, a criminal statute that makes it an offense for me to knock you up side the head and take your shit is a form of economic regulation at its most basic level. Ask Ron Paul if we should do away with that.