Tom Souhlas is an economist with ECONorthwest where he specializes in environmental policy and economics. He has an MSc in Environment and Development from London School of Economics and a B.A. in Environmental Studies & Economics from Washington University, St. Louis.
It may be uncomfortable to think about, but professional basketball players -- like any entertainers -- are essentially commodities; shipped from here to there like very tall stalks of televised corn for us to watch. But comparative advantage has taught us that sometimes, some places are just better than others at making certain products and basketball is no different. Over the few days, we'll look at where basketball players come from and where they go from there.
Despite their attempts to make a "principled stand", the NFL owners finally succumbed to the demands of the referees. That's because, although the out-of-pocket expenses were minimal, the hidden costs were much higher. How much higher will surprise you.