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I would say that professional sports costs aren’t a great representative of cost increases. The amount of ballparks hasn’t expanded to match the number of fans,
by dangus 4y ago
I would say that professional sports costs aren’t a great representative of cost increases. The amount of ballparks hasn’t expanded to match the number of fans, and that’s really the role of minor league teams.
Major League Baseball is doing what is logical here: price segmenting their product in ways that wasn’t possible in the past. The television experience also wasn’t so great in the mid-century.
Why would you invite people with not a lot of spending money to an in-person experience when you can fill the bleachers with the wealthiest 10% of the country?
In other words, every seat you fill with someone willing to spend $50 at the park is an opportunity cost compared to the person you could have sitting there willing to pay $100. Increasing the supply of seats might actually lose you money compared to only inviting the wealthy and maintaining scarcity.
Same deal with Disneyland and Disney World. There aren’t proportionally more Disney parks and capacity to meet demand, there are still just two destinations in the whole country that have expanded relatively modestly in terms of capacity increase, but there are lots of other theme parks and attractions that have opened or expanded since Disney opened his.
It’s entirely logical for Disney to only cater to the top tier of spenders, because they run the most desirable and expensive to operate per-capita parks.
A point about parking: regardless of inflation, car infrastructure doesn’t scale. We know this already but most of America is in denial and will get into arguments with me about how they need their truck to survive.
Car-based infrastructure works fine when your town is a certain modest size and not every individual owns one, but our population size and car ownership rates have ballooned since the mid-century, and now traffic and parking is a squeeze in moderate-sized cities that don’t have good enough mass transit.
So, in conclusion, I think movie tickets are perhaps a the best representation in this article of our relative loss of wealth compared to the other items on this list. Only movie ticket demographics and economics have truly stayed the same compared to these other examples. Movies are still more expensive, because it’s absolutely true that the typical American family has become poorer in many ways.