Comment by dash2
1 day ago
You put your own case powerfully, but you don’t seem to have reacted to Derek Thompson‘s case, except to say that you’re not bothered about gambling addiction. (And why not? If people predictably do things that are bad for themselves, that damages the efficiency case for free markets and everything.)
I did read his article, and there are the geopolitical events and the sporting events he talks about.
I don't really understand why sports leagues require faith in their institution. Is the economy overleveraged on collateral debt swaps on league merchandise sells? Is our economy built on preteens in Nebraska believing their only way out of there is a worthwhile pursuit?
I'm not sure why I am supposed to care about the sanctity of that market, what are the consequences of it feeling rigged? and the FBI was on those insider trades instantly, so the sports side seems tightly regulated already whether I understand why a segment of that market needs certain assurances.
And the non-sporting trades I recognize the danger of, the liquidity in the market altering the outcome as someone in control of the outcome does something selfish. I say do what we can to avoid the death markets and the nuclear ones, but distributed bounties otherwise are very transparent and efficient wealth distribution mechanisms that fulfill other goals of compensating labor more correctly.
Surely a big point of sport is to get young people to do healthy, character-building team activities. That requires sporting heroes they can look up to, rather than cheats who will throw a game for money.
It doesn’t require that
Representation is a powerful driver for a large swath of humans, there are many others who get inspired for other reasons, or inspired by fictional characters
I’m fine with those other traits being expressed more frequently