As a person whose state is currently embroiled in a debate over whether (and, more likely, how) the public should pay for a private company to build its new facilities, I found this quote from a 2000 issue of the Journal of Economic Perspectives to be particularly interesting:
Few fields of empirical economic research offer virtual unanimity of findings. Yet, independent work on the economic impact of stadiums and arenas has uniformly found that there is no statistically significant positive correlation between sports facility construction and economic development.
These results stand in distinct contrast to the promotional studies that are typically done by consulting firms under the hire of teams or local chambers of commerce supporting facility development. Typically, such promotional studies project future impact and almost inevitably adopt unrealistic assumptions regarding local value added, new spending, and associated multipliers.
There are three key lessons that this study highlights:
1. When you can get it, empirical data—that is, information gathered from real-life experimentation or observation—is better than projections.
2. Research done by independent analysts is better than research done by people who are being directly paid by clearly biased interests.
3. No matter how many times your football team says otherwise, a new football stadium is unlikely to be a good investment for public tax money.
Image: Image: Random Vikings fans, a Creative Commons Attribution (2.0) image from tigergirl's photostream. And, yes, I am making a cuckold joke, here.
Where are our petabyte drives? Brian Hayes takes us through the reasons storage is “stuck” in the low terabytes. The tl;dr is that we got such exceptional capacity growth in the late 90s and early 00s we don’t need much more right now, so the focus since then has been on SSDs, networking, interfaces, etc, […]
Amélie Lamont, a former staffer at website-hosting startup Squarespace, writes that she often found herself disregarded and disrespected by her colleagues. One comment in particular, though, set her reeling — and came to exemplify her experiences there.
In this episode of the Flash Forward podcast we travel to a future where humans have decided to eradicate the most dangerous animal on the planet: mosquitos. How would we do it? Is it even possible? And what are the consequences? Flash Forward: RSS | iTunes | Twitter | Facebook | Web | Patreon We […]
Vaping continues to become increasingly popular, meaning there is a growing selection of premium vaping products on the market. Here’s one that should get your attention: the AtmosRX Combo Vaporizer Bundle. This top-notch bundle includes the Rx Dry Herb Vaporizer, plus a bundle of accessories and flavors. Grab it now: it’s currently 73% off in the Boing Boing Store.The Atmos […]
We’d all love a 75-inch TV screen on which to view our favorite shows. But not all of us can drop the cash needed to get one of those broadcasting beauties (or even have the space needed to house them).Thankfully, there’s an alternative. With the SainSonic Mini LED Portable Projector (only $59.99 in the Boing Boing Store), you can project a picture […]
If you want to add some real firepower to your programming repertoire, learn Java–one of the most adaptable, widely-used programming platforms around. You can easily do that with this Ultimate Java bundle, now just $69 in the Boing Boing Store.Across 14 lectures and 117 hours of content, the educators at online academy eduCBA will walk you through […]