Monday, October 26, 2009

Free Market Yankees?

As a true believer in the Capitalism, which is the only system developed based exclusively on the concept of individual rights, I've been asked many times why would I dislike the New York Yankees.

Certainly it can't be that they spend more than any other team. That is one of the tenants of Capitalism, that an individual is free to receive as much as anyone is willing to pay them.

And certainly it can't be their success, because Capitalism rewards those who are the best at what they do.

So what in the world could a true believer in Capitalism have against the New York Yankees? The answer is the Yankees (the institution, not the players) are Socialists.

True Capitalism dictates that if a business is profitable and successful, it will make money. But the Yankees are actually a money-losing institution, held afloat by the taxpayers - most of which who are not even baseball fans, let alone Yankee fans. The government of New York steals money from these people, via taxation, and subsidizes the Yankee organization. An organization that would have crumbled to non-existence with the debt they would owe if not for the suckers who pay taxes in New York state.

Yankee fans don't like to admit that only 9 months ago, they were begging (and got) $370 million in additional tax-exempt bonds to pay for its new Bronx ballpark. That's not $370 million to help build it, that's $370 million to deal with just the cost over runs. The total cost to taxpayers is close to $750 million dollars, approximately 1/2 the cost of the stadium. If the Yankee organization was truly run by Capitalists, they would have built a more modest stadium - or just continue using the existing one.

But wait, there's more! The very land they use is not their own, it is the property of New York City. So Socialists argue at least they pay the property taxes and the people get some of it back. Not so fast my anti-freedom friends, the Yankees get their land TAX FREE. How can the city afford this - simply raise the taxes on the hard working New York citizens.

Yankee defenders will offer their last great argument. All of the businesses and jobs that are created around the stadium. This certainly helps the common man in the city. This certainly proves that a pro-government/business relationship can work wonders. To these people I simply ask you to go to the Bronx and look around - but please bring some body guards, because even though the Yankees have been in the Bronx for over 100 years, the Bronx has continued to deteriorate and it's poverty rate continues to blight the area.

The Yankees only exist due their ability to convince corrupt politicians to confiscate money from taxpayers. This organization is the very antithesis of freedom, but they are an excellent example of America today. Overpaying for everything, with little to show for it.


  1. 1)I agree, and would like to add how come the new Texas Stadium in the NFL cost $1.2 billion and has a roof, and the $1.5 billion Yankee stadium does not?

    2) Don't all the above arguments apply to virtual all sports franchises in the U.S. including The Mets?

    3) Still waiting a response to my earlier comment on Keynes.

  2. #1 - Good question. Plus the Texas stadium has a $300 million display, so the stadium only cost $900 million. Plus it has the dancing posts for the Cowboy cheerleaders.

    #2 - I think for most it does apply and the Mets very much disappointed me with their subsidy's for the new stadium. I don't think the above applies to the Green Bay Packers, which are owned a private company but sold stock in the team to the people of Wisconsin. One could argue those citizens have a vested interest in the team doing well.

    #3 - done.