One of the reasons that I bother to read the New York Post is for sports columnist Phil Mushnick. That said, I think he could use some Economics 101 classes. Here is an excerpt from Sunday's column:
Baseball in the Age of Bud: The Cubs, depending on the dates and opponents, now sell bleacher seats for a low of $20 to a high of $72.....What did the Office of the Commissioner of Baseball do about such systemic price gouging and racketeering? Nothing. The day his co-team owners appointed
Bud Selig commissioner, the "steal sign" was put on, and it remains on, no need to check with the manager.
http://www.nypost.com/p/sports/more_sports/unhealthy_booster_shots_6C5N8j3zD1NZfuQhFak8aJ/1
I've been to Wrigley Field several times. Along with Fenway Park in Boston, Wrigley is an incredible experience. It's certainly one that I would voluntarily pay $72 for. And if the Cubs charged less than what the market would bear, I wouldn't be able to get a seat. The game would be sold out and Wrigley would be filled with people who value the game less than I do but were in line for a ticket first.
As a life-long Red Sox fan I've watched ticket prices to Fenway climb from a few dollars (with plenty available at gametime) in the late 70's to hundreds per seat today. Is the current ownership more greedy than the Yawkey group that managed the team before? Are the players more greedy? Perhaps, but I don't think that's why ticket prices have increased. The increase is due to the fact that fans are willing to pay more. As long as we have a free market, owners will charge as much as they think people are willing to pay.
So Phil, don't begrudge Bud Selig and the owners for high ticket prices. After all, if they charged too little, I would buy them up and resell them myself. And do you know why? Because I'm greedy.
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