As I'm teaching my son about economics this semester, he is naturally interested in NIL so it works as a market for me to use with him to discuss how markets move toward equilibrium. Aside: we are just getting started using Dr. Wooten's book "Parks and Recreation and Economics" and Crash Course Economics as our homeschool economics course spines. However, using current events always helps impact learning and understanding. Thus, as he learns about how markets move toward equilibrium, I'd love to see y'all come back to NIL in this regard so I can share your podcast. 😉
This is where I'm headed related to content .... and I'm looking for someone who is having these discussions (at a high school or beginning college level) in a more interesting way.
CONTENT: State laws, college policies, the NCAA, and the possibly the federal government are starting to act as both facilitators and regulators of the NIL market, creating a structured environment within which "the invisible hand" operates. Their roles MAY prove to be important in maintaining order, promoting fairness, and addressing imbalances, ultimately allowing the NIL market to move toward equilibrium in a way that benefits athletes, businesses, and other stakeholders in the future.
Thanks for the comment! yes, given it’s been a couple years it might be fun to do another on NIL. Its such a rich topic and I still don’t think we’re anywhere close to seeing the last impacts
I am particularly interested in how universities will handle students getting into trouble with the IRS. There will surely be many students who do not properly report their incomes and thus incur the wrath of the tax man. Since we are likely talking about significant sums of money, the incentive for the IRS has to be pretty high to go after tax dodging students.
I find the idea of paying students troubling for one naive reason. Universities are supposed to be non-profit institutions where you go for an education. This is clearly a farce when it comes to athletics. The amount of money SEC football programs make, for example, is amazing, and good for them, but as it has very little to do with the mission of the university, which is often subsidized by taxpayers and can actually end up doing harm to the kids who go to school to play sports but can't succeed in the classroom, why do we still treat this as anything less than a business? The NCAA has/had no control over big time football and basketball. Kids are travelling across the country mid-week for volleyball, softball, and crew due to insane conference alignments. It would be more decent to make football and basketball professional enterprises outside the world of academics. At least students wouldn't have to pretend to attend classes they have no intention of finishing.
I have students gone for 2 weeks because they're participating in the NCAA tournament festivities, but they aren't even on the basketball team. It's not just limited to athletes in the game, but team managers, interns, cheer teams, band, etc.
As I'm teaching my son about economics this semester, he is naturally interested in NIL so it works as a market for me to use with him to discuss how markets move toward equilibrium. Aside: we are just getting started using Dr. Wooten's book "Parks and Recreation and Economics" and Crash Course Economics as our homeschool economics course spines. However, using current events always helps impact learning and understanding. Thus, as he learns about how markets move toward equilibrium, I'd love to see y'all come back to NIL in this regard so I can share your podcast. 😉
This is where I'm headed related to content .... and I'm looking for someone who is having these discussions (at a high school or beginning college level) in a more interesting way.
CONTENT: State laws, college policies, the NCAA, and the possibly the federal government are starting to act as both facilitators and regulators of the NIL market, creating a structured environment within which "the invisible hand" operates. Their roles MAY prove to be important in maintaining order, promoting fairness, and addressing imbalances, ultimately allowing the NIL market to move toward equilibrium in a way that benefits athletes, businesses, and other stakeholders in the future.
Thanks for the comment! yes, given it’s been a couple years it might be fun to do another on NIL. Its such a rich topic and I still don’t think we’re anywhere close to seeing the last impacts
I am particularly interested in how universities will handle students getting into trouble with the IRS. There will surely be many students who do not properly report their incomes and thus incur the wrath of the tax man. Since we are likely talking about significant sums of money, the incentive for the IRS has to be pretty high to go after tax dodging students.
I find the idea of paying students troubling for one naive reason. Universities are supposed to be non-profit institutions where you go for an education. This is clearly a farce when it comes to athletics. The amount of money SEC football programs make, for example, is amazing, and good for them, but as it has very little to do with the mission of the university, which is often subsidized by taxpayers and can actually end up doing harm to the kids who go to school to play sports but can't succeed in the classroom, why do we still treat this as anything less than a business? The NCAA has/had no control over big time football and basketball. Kids are travelling across the country mid-week for volleyball, softball, and crew due to insane conference alignments. It would be more decent to make football and basketball professional enterprises outside the world of academics. At least students wouldn't have to pretend to attend classes they have no intention of finishing.
I have students gone for 2 weeks because they're participating in the NCAA tournament festivities, but they aren't even on the basketball team. It's not just limited to athletes in the game, but team managers, interns, cheer teams, band, etc.