The city gets a short term public morale boost and some national attention. No new jobs are getting created from this win. You have to ask yourself if this is a temporary or permanent difference in local consumption. Permanent is what counts and that only occurs if the Cubs increases tourism to the city indefinitely. It seems like we are taking a time value of money argument here with the inflow of spending. I can see a lasting benefit if the city has a one-time budget surplus and either 1) pays down debt/pension liabilities = lower cost of financial distress or 2) reinvests the surplus in schools/education = improves the education and global competitiveness of the future work force.
Speaking of public morale, the Chicago Bulls has a new public campaign to highlight local kids during game time outs... but each announcement starts with the 600+ murders on the big scoreboard. That is an easy way to diffuse any Cubs uplift. Air leaves the arena once they publicize it. This is why I don't buy the city humming argument. It is very easy to feel down about the current state of things. Maybe people outside the city can feel good when they do not deal with despair in the local news on a daily basis.
Cubs winning is not going to force TheUrbanPolitician to move into the City or spend 10% more money here permanently. I eagerly await TUP to become a +1. Maybe when he becomes an empty nester. Commit my friend!
Last edited by Justin_Chicago; Nov 5, 2016 at 10:45 PM.
|
Threaded Mode