Do sports subsidies make any economic sense?

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As the Madness of March winds down with this week’s championship games, visions of lucrative professional careers dance in the heads of talented young athletes around the country. Scouts, coaches and owners have their own visions, for any one of these young talents could be the next Kobe or LeBron.

And that makes each player a potential ticket to millions of dollars in public subsidies. Taxpayers, however, should be envisioning a loss; these deals are typically as wasteful as they are scandalous.

That is Christopher Koopman and me, writing over USNews Economic Intelligence blog. The full article is here. John Buhl definitely gets an assist for all of his helpful input on the piece.