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By A Smith (anonymous) | Posted January 11, 2011 at 19:10:31
What do all private businesses in Hamilton have in common? They all are funded by people who don't have the luxury of asking taxpayers to bail them out if they make a bad investment. What other things do all businesses in Hamilton have in common? They all want to make money and will invest IF they think that doing so will earn a poitive return on their investment.
Knowing this, what do you think the chances of a stadium/renovation built with public money will be cost effective?
In other words, if this stadium had to be built entirely with private funding, would it be able to charge enough to turn a profit? If not, that tells us that a stadium is not an economic investment, but is rather a political investment. Unfortunately, when investments are made for political reasons, the only people who benefit are those with the best political connections. Everyone else in the city is worse off. That's Hamilton's economy in a nut shell, based on politics rather than rewarding business success.
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