John Stossel

Politicians' rules rarely change because the politicians don't have their own money on the line. Cleveland's managers thought that funding gleaming new sports stadiums (which subsidize wealthy team owners) and other prestigious attractions like the Rock and Roll Hall of Fame would revitalize their city.

Urban policy expert Joel Kotkin says, "This whole tendency to put what are scarce public funds into conventions centers and ... ephemeral projects is delusional."

But politicians claim that stadiums increase the number of jobs.

Not so, says J.C. Bradbury, author of "The Baseball Economist: The Real Game Exposed." "There's a huge consensus among economists that there is no economic development benefit to having these stadiums," he says.

The stadiums do create jobs for construction workers and some vendors. But "it's a case of the seen and the unseen," Bradbury says, alluding to the 19th-century French economist Frederic Bastiat. "It's very easy to see a new stadium going up. ... But what you don't see is that something else didn't get built across town. ... It's just transferring from one place to the other.

"People don't bury their entertainment dollars in a coffee can in their backyard and then dig it up when a baseball team comes to town. They switch it from something else."

Stadiums are among the more foolish of politicians' boondoggles. There are only 81 home baseball games a year and 41 basketball games. How does that sustain a neighborhood economy?

But the arrogance of city planners knows no end. Now Cleveland is spending taxpayers' money on a medical convention center that they say will turn Cleveland into a "Disney World" for doctors. Well, Chicago's $1 billion expansion of the country's biggest convention center -- McCormick Place -- was unable to prevent an annual drop in conventions, and analysts say America already has 40 percent more convention space than it needs.

Politicians would be better stewards of their cities if they set simple rules and then just got out of the way. I won't hold my breath.


John Stossel

John Stossel is host of "Stossel" on the Fox Business Network. He's the author of "No They Can't: Why Government Fails, but Individuals Succeed." To find out more about John Stossel, visit his site at >johnstossel.com. To read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com. ©Creators Syndicate