Monday, August 31, 2009

Remember this?

AlphaNinja - For many of us, trading and buying baseball cards was our first foray into cutthroat capitalism. Were you on the giving or receiving end of a trade with a less-knowledgeable friend? Ah, the parallels with adult dealmaking are amazing...

The year 1991 isn't only notable for the Gretzky/McNall purchase. It also marked the peak year for baseball-card sales. According to estimates from Sports Collector's Digest, card sales amounted to $1.2 billion in 1991, but by the end of the millennium total sales had declined to $400 million, and last year sales dropped all the way to $200 million. For followers of economics, the modern history of the baseball-card industry offers useful lessons about market responses to profit, anti-trust laws, business failure and inflation.

No comments:

Post a Comment