Millionaires vs. Billionaires

Andrew Zimbalist talks about the economics of baseball

35 seconds

"We have to have uncertainty about the game. We have to have uncertainty about the season competition. And we also want uncertainty from season to season. So how do you create the uncertainty? You have to have a certain amount of balance. But the same need for balance, interestingly, creates a basis for discord amongst the owners. This is not a typical capitalist industry where you have Ford Motor Company and Ford thinking gee, in order to be able to sell this car I need GM to sell its car. No. In a typical industry Ford would be very happy if GM went out of business. The Yankees won't be very happy if the Red Sox go out of business. They will have to co-exist and they have to they have to co support each other to some degree."