The Economics of College and Pro Football
This seminar will describe and analyze two very different “industries”: college football and professional football. These two industries are full of paradoxes. Pro football players are paid big salaries, but their careers often are brief and the risk of injury is high. Big-time college football generates millions of dollars in revenue, but college football players do not receive a salary. Both colleges and professional football teams build large and expensive stadiums, frequently with taxpayer subsidies. At both the college and pro levels, many coaches receive multimillion-dollar salaries. Where does all the money for this come from at the college and pro levels, and where does all the money go? Should the government regulate college and/or pro football more stringently, or more leniently? Should taxpayers continue to fund stadiums for college or pro football? What are the factors that affect coaches’ salaries? Is there evidence of racial discrimination in pro football players’ salaries? This seminar will explore these questions and more.