It’s good to see that Bill Simmons at ESPN is giving economists their due by providing space for Tyler Cowen and Kevin “Angus” Grier’s occasional meanderings. This week, Cowen and Grier discuss whether “Moneyball” (that is, reliance on quantitative techniques) still works in Major League Baseball.
Bottom line: Entrepreneurs create value and can earn short-term profits. Can they earn long-term profits? Well, what are the barriers to entry?