Commentary: Stadium won't help the economy

I wouldn't call Brad Humphreys a loser exactly.

He's just the latest in a distinguished cadre of economists proffering variations of the same losing argument. And they always lose.

Economists don't agree on much – except on the economic payoff from publicly financed sports stadiums. "We've got 30 years of consensus," Humphreys told me Wednesday. "Those promised benefits almost never materialize."

Humphreys, author of 'The Business of Sports' and a professor of economics at the University of Alberta, told a congressional oversight committee in September: "There is no evidence in the large body of peer-reviewed scholarly research on the economic impact of professional sports facilities that indicates any professional sports facility construction project, or the ongoing operation of any such facility, has generated any tangible economic benefits in the local economy.

"In fact, economists widely agree on this point, and it is backed up by decades of evidence based on peer-reviewed research," he testified.

To read the complete column, visit The Miami Herald.