by Tho Bishop
There is no better sign of the NFL’s domination of the American sports landscape like the phenomenon of the NFL draft. The event, which is essentially a glorified business meeting, has evolved from a one day affair held in a smoke-filled single hotel conference room into a made-for-TV spectacle. Not only does it annually dominate the competing NBA playoffs in television ratings, but in 2014 more people watched the first round of the draft than either Game 7 of the World Series or any NBA championship game.
In America, democracy may be a failing god — but NFL is king.
The NFL draft also happens to be my favorite time on the sports calendar, in part because it is also a great illustration of many foundational economic concepts relevant to Austrian economics.