Two great games on Sunday have resulted in a Cardinals-Steelers Superbowl. Can this tell us anything about economics? I'm not sure, but lets compare the cities who boast the two best teams to the city who has claim on the worst team (ever).
Phoenix, the home of the Cardinals, has been one of the fastest growing cities in the US. Much of this growth is from high-tech industry, like semi-conductor manufacturers. And its proximity to the regulatory nightmare that is California has certainly helped that growth.
Pittsburgh, although in the "Rust Belt", has truly blossomed in the last few years. It has experienced decent population growth and increased the number of jobs in high paying industries like medical services.
Phoenix, the home of the Cardinals, has been one of the fastest growing cities in the US. Much of this growth is from high-tech industry, like semi-conductor manufacturers. And its proximity to the regulatory nightmare that is California has certainly helped that growth.
Pittsburgh, although in the "Rust Belt", has truly blossomed in the last few years. It has experienced decent population growth and increased the number of jobs in high paying industries like medical services.
Compare these two championship teams to the 0 and 16 Lions. Home prices in Detroit have literally fallen to $0. The population has declined steadily from its peak in 1950 (the city had more residents in 1920 than it does today).
The correlation between wins in professional sports and economic growth would likely be pretty low. In MLB, the total size (not the growth) of the market matters, and in sports with salary caps, like the NFL, the correlation is likely to be reduced further. Still, these comparisons are interesting. Especially when one thinks of the similarities between Detroit and Pittsburgh- both having a strong history of unions and heavy manufacturing, with similar climates and access to water.
What's been the difference in the economic experiences of Pittsburgh and Detroit? I think Rick and others are right to blame auto unions. But corrupt politicians haven't helped either. The fall in the cost of living in Detroit can only help its future and attract industry. Hopefully, it can find the other elements that produce economic growth, as Pittsburgh and Phoenix have. found.
The correlation between wins in professional sports and economic growth would likely be pretty low. In MLB, the total size (not the growth) of the market matters, and in sports with salary caps, like the NFL, the correlation is likely to be reduced further. Still, these comparisons are interesting. Especially when one thinks of the similarities between Detroit and Pittsburgh- both having a strong history of unions and heavy manufacturing, with similar climates and access to water.
What's been the difference in the economic experiences of Pittsburgh and Detroit? I think Rick and others are right to blame auto unions. But corrupt politicians haven't helped either. The fall in the cost of living in Detroit can only help its future and attract industry. Hopefully, it can find the other elements that produce economic growth, as Pittsburgh and Phoenix have. found.
