SOCIOL 2T03 Lecture Notes - Lecture 10: Monopsony, Corporate Branding, Stuffed Toy
16 Jan 2020
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Week 10: sports, the economy, and the state. Ownership of sports is driven by profit/prestige. In north american private/corporate ownership is the norm. Big 4" sports franchises are worth hundreds of millions of dollars with many being worth over one billion dollars. Owners earn prestige and gian influence locally. A centralized organizing group that coordinates the actions of a collect of people of businesses. Cartels allow owners to have a monopoly on their sport and monopsony over athletes labour. One and only one provider of a particular product or service. Nhl is so dominant in north america that it has a virtual monopoly on selling hockey to fans. Single buyer of athletic labour in a particular sport. Nhl so dominant in north america that it has a monopsony on the labour of male hockey players. Owners often receive tax breaks, subsides and public assistance with building stadiums that they own.
