Welcome to Rye Country Day's Economic Blog. Here you will find perspectives by students taking Economics at Rye Country Day School. It is meant to be a forum where students can openly express their ideas and take positions on relevant economic issues. I urge everyone to participate in presenting their own ideas in an open manner so that we can all learn from each other. Regardless of whether you are currently taking Economics, everyone is invited and encouraged to comment on articles and get involved. Feel free to e-mail me, Alex Osborne at email@example.com , with comments or suggestions.
Sunday, January 21, 2007
Featured Entry - Dice-K Matsuzaka - Worth $51.5 million? Is anyone?
This week the Boston Red Sox made a big expenditure. How big? $51.5 million! The worst part is that this fee is merely for the rights to talk to Matsuzaka, a Japanese pitcher, about a contract. This price, paid to his team in Japan is just to talk to the young star, not to mention what he will be paid in salary. What price do Americans put at winning? I mean, granted the Red Sox are frustrated after a season of not making the playoffs, finishing third in the AL East, and worst of all yet again inferior to the New York Yankees. But when does the spending end? The U.S. government in my opinion needs to step in and do something. They need to somehow regulate the spending of the Red Sox, Yankees, and other baseball franchises especially when upwards of $50 million will not exchange hands ever again in America. The Red Sox are taking a big risk on an unproven, foreign player with an investment they will doubtfully see ever again. The spending needs to stop. Now this expenditure alone will likely not hurt the U.S. economy but the principle remains as a bad trend has continued of spending U.S. dollars accross U.S. borders. A value rooted in American history of a Protestant work-ethic and putting money back into your community so you can see the benefits has seemed to fade away, at least for now.
-T. A. Canning