An over-valued dollar hurts the workers who are subject to international competition to the benefit of workers who are largely protected from international competition.
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Why media fall for sports industry's bogus economic claims
With Super Bowl Sunday approaching, expect plenty of media reports on the projected economic windfall for host city Glendale, Arizona. Last year, when the NFL announced that its big game would provide a $600 million boost to the New York/New Jersey economy, that figure promptly became a fixture in news coverage of the event (CNN, 1/24/14; Newsday, 1/22/14; FoxNews.com, 5/21/14). In one typical article, the New York Daily News (1/20/14) reported that city business owners were scurrying to grab a piece of the Super Bowl pie, quoting a local limo-service owner: “Nothing comes close to this. Everyone in New York […]