Of all the takes you may have already seen about the NCAA’s punishment of Alabama in the wake of its textbook scandal (my favorite is Will Collier’s note about the ’07 FSU-‘Bama game), I bet you weren’t expecting this one:
… This kind of “cheating” is exactly what we should expect to see when we try to hold prices below their market-clearing levels. Anyone who has been to a big-time college football game knows full well that the marginal revenue product of a superstar college football player is a lot more than the cost of tuition, room, and board at a state university. Even when you add on all of the perks (facilities, for example), you’re probably still a long way from the market-clearing wage of a top-tier player.
So how come athletes in sixteen UA sports programs, including softball, baseball, gymnastics, women’s basketball, soccer, volleyball and both the men’s and women’s teams in golf, swimming, tennis and track and field, got pinched?
On the other hand, his extra credit question is spot on. I’ll leave you to ponder it.
If college sports exploit athletes, why doesn’t competition arise?