I am an economics major in college currently and a huge baseball fan. I have used baseball to help teach me many of the details and concepts covered in my economics courses thus far and have managed to gain a much better understanding of the game because of this. Looking at economic theory presents many questions about why industries and businesses choose to do things the way they do. I have looked to baseball often to try and find some of these answers.
I have found it to be an excellent resource for further understanding because of the fact that so much of it is made public. From stadium expenses to payroll and revenue nearly everything done on the business side of the game is made available with a little searching. If your are compelled you can find information about all of it. Through the amount of information that can be gained so easily you can begin to explore and further understand many of the choices that are made by different teams and the league itself.
I don't claim to be an expert on the subject, just a student. However I have found it fascinating how easily the basic principals of economics can be seen and explained by simply looking at the game and how it is run.
My intention is beginning this blog is multi-purposed. I hope to perhaps help others gain a better understanding of economic theory and laws by explaining how they apply to baseball. Second I hope that perhaps publishing some of my thoughts and opinions on these matters will put me in touch with others who can help me learn from their experience or shed more light on issues that I am still learning.
I also realize that there are other webpages available that offer tons of information about the various aspects of business topics in professional sports. I hope only to contribute to what is already available and offer my opinions.
I hope that people enjoy what I have to say. I will be working on a series of articles on the factors of production and their relationship to the game and hopefully getting them posted quickly. Thanks.