Malcolm Gladwell on the business of basketball

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Malcolm Gladwell speaks at PopTech! 2008 confe...

If this guy doesn't look like an economist...Hey wait, I'm an economist...Image via Wikipedia

In the midst of the NBA in a lockout that could last quite some time, Malcolm Gladwell opines on the economics of owning a basketball team. Check it out here.

We are Gladwell fans here at TPS report central. However, we suspect that the “psychic benefits” that he talks about here are just another way in which old guard economists are trying to save the theory of the rational economic man – of course without actually doing the research.

In fact, while writing that, it occurred to me that the entire article is based upon what a “rational” actor should do.

And the only completely rational people alive have prefrontal cortex damage.

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