Capitalism creates CRISIS!

Course Blog for Soc 3151: Social Issues and Social Policy at Baruch College

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Financialization of the NBA…part 2

Jeff Schmidt writes in Disciplined Minds that industry looks for “an obedient thinker, an intellectual property whom employers can trust to experiment, theorize, innovate and create safely within the confines of an assigned ideology” (Schmidt), so to, the NBA does the same with its players. Have you ever heard a player speak out on the lackluster cleanup after Hurricane Katrina? What about the sub-prime loans given to many low income minority families that have them losing homes at a rapid pace? The answer is a resounding no, because the league as a brand does not want its name associated with political views or “radical” perspectives, instead it wants “obedient” players. The classic example of this is Craig Hodges, one of the best pure shooters in NBA history, who after winning the NBA Championship with the Chicago Bulls donned a “dashiki and delivered a hand-written letter addressed to then President George H. W. Bush, expressing his discontent at the administration’s treatment of poor and minorities” (Wikipedia). After this act of individualism, not only was he not signed by the Bulls the following season, but he was not even offered a tryout by any other team in the league…ever again. Many think he was blackballed by the league because of his strong opinions, and he even filed a lawsuit against the NBA to that degree. This is still a confusing act by a league that should be more concerned with good officiating than the opinions of its players. However, when realizing how financialized the NBA is, the picture becomes more clear.

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RSS Naked Capitalism

  • Links 11/22/09 November 22, 2009
    Unburied bodies tell the tale of Detroit — a city in despair Times Online Economists: Wrong Again Michael Panzner The illusion of improving global imbalances Richard Baldwin and Daria Taglioni, VoxEU (hat tip reader Don B) Unemployment rates rise in 29 states CNN (hat tip reader John D) Wall St. Finds Profits Again, Now by Reducing Mortgages Louise [...] […]
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  • Antidote du Jour November 21, 2009
    Apologies for absence of links! Hope to be back to closer to usual programming early next week. […]
    Yves Smith
  • Stop the madness now! November 20, 2009
    By Edward Harrison of Credit Writedowns. A reader at Naked Capitalism asked us to respond to a recent article from the Christian Science Monitor asking Does US need a second stimulus to create jobs? Marshall Auerback has already done some heavy lifting – and taken all of the heat in the comments. He says emphatically yes. Now [...] […]
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    This clip is from an interview with blogger Mike Stark. Apologies for the poor sound quality. While Dodd indicates that he is “inclined to be supportive” of Bernanke, he is surprisingly cautious about making a broader statement, a sign of a shift in sentiment. […]
    Yves Smith
  • Ivy Zelman: “Home prices are going back down” November 20, 2009
    By Edward Harrison of Credit Writedowns. Yves is stuffed again today, so I am going to post at least once or twice. Hopefully, we will also see something from Jesse or George as well. This is a post I wrote overnight about rising delinquencies and shadow housing inventory. I am not convinced house prices [...] […]
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