You've gotten away for decades with running a quasi-socialist cartel in which the owners share revenues without competition and the workers are exploited until they outlive their usefulness, at which point they are discarded, often with life-threatening injuries and illnesses. A dose of free market competition would do you good. As Milton Friedman once observed, "The economic miracle that has been the United States was not produced by socialized enterprises, by government-unon-industry cartels or by centralized economic planning. It was produced by private enterprises in a profit-and-loss system." Give it a try.
Wednesday, April 27, 2011
Professor Bainbridge on the NFL
In response to NFL Commissioner Roger Goodell's oped in the Wall Street Journal, UCLA Corporate Law professor Stephen Bainbridge lowers the boom: