I’m in the Hall of Fame

Er, well sort of…actually, not really at all.

The Hall of Fame’s Education Department conducted an interview with me that is now available online.

Here is an excerpt.

Of course people of a wide variety of backgrounds all over the world are baseball fans. How did you become a baseball fan?

My dad liked baseball. Though he didn’t watch it much, he used to tell me stories about playing Little League and going to Yankee Stadium. All the kids in my neighborhood played baseball, so I played too. It was one of the few sports where I was one of the better players, so that helped. Making my Little League All-Star team and having a multi-homer game are fond memories.

Your website studies baseball from an economist’s point of view. “Economy” and “baseball” don’t seem to collide in the same sentence. Does baseball tend to ignore the “common-sense” side of economics, or is baseball fairly level-headed?

The economic aspect that interests most observers is the size of the contracts that players earn. Players earn millions of dollars for the same reason that movie stars earn even more millions: many people are willing to devote a portion of their incomes to watch them perform. As the market for baseball has expanded, so have player salaries. Because few non-baseball players earn that type of money, it’s difficult to justify these high salaries. But, the salaries players earn are in line with the revenues they generate for their teams through ticket sales, concessions, advertising, etc.

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