Replies

But it's clear that purchasing the Clippers is not a business decision, it's an emotional one

We've left free market economics behind. Now it's about power and emotion, just as it was in the age of the Monarchs. Some people don't have to "make money" and they turn their nose up at "profit". They simply "have" money and privilege. They are at the top, and their children will be at the top. It's just the way it's meant to be.

Now, back to the fields you serfs! There is work to be done! Your masters are hungry.

It's the Morelocks vs the Eloi. We have to keep reminding ourselves that it didn't end well for the Morelocks.

As far as the price of the Clippers? I stated this on a previous thread: it's not unusual for a guy with a mid-life crisis to spend 10% (or more) of his life savings to get his favorite toy.

And meanwhile, the Sterlings can have some lawsuit fun with the NBA and others involved, if they want. And the owners won't have to worry about the repurcussions of a vote and a fear of someone going after their teams for the crime of being imperfect.

Taking the argument a tad too far, I think.

This is just like a billionaire buying a giant yacht. There’s no way it will produce an ROI. The purchase is for enjoyment and status.

“Owner of a major league team” provides a lot more status than “retired rich guy.”

Status and “stuff” actually operate on separate, though often parallel tracks. That in our society wealth is the primary way of acquiring status misleads many into the vulgar Marxist notion that nobody ever does anything at all except for base monetary reasons.

In actual fact, status is the main driver. This can be seen from those willing to invest tens or hundreds of millions of dollars of their own money to gain political office. And from the longstanding ambition of rich guys to be appointed to federal office or ambassadorships.

Such office is not going to provide a financial ROI. Most could clearly make more money in private fields. But being addressed as “Mr. Ambassador” for the rest of your life is a nice perk. All of this equates, to some extent and informally, to the British honors system of knighthoods and titles.