The short version is that they fuel inflation, speculation, and regulatory capture. Almost every economic problem is either supply-side or demand-side. Individual subsidies just throw money at demand. Corporate subsidies just throw money at supply. The left generally loves one, the right, the other
As I was scrolling down reading, I stopped and thought, "What about college sports?" I should have finished the article first, because the next block of text was...college sports.
I think college sports are a symptom of the problem, not to be mistaken for the problem itself. They existed before the professionalization of college administration, and were not nearly as commercialized. But they only commercialized as the administrators became professionals and started managing it like professionals.
As I was scrolling down reading, I stopped and thought, "What about college sports?" I should have finished the article first, because the next block of text was...college sports.
I think college sports are a symptom of the problem, not to be mistaken for the problem itself. They existed before the professionalization of college administration, and were not nearly as commercialized. But they only commercialized as the administrators became professionals and started managing it like professionals.