Power & Market

Belichick the Economist?

Belichick the Economist?

"Could Bill Belichick’s grasp of economics be the key to the Patriots’ success?" asks Paul Solman at PBS's Making Sen$e. He gives examples of Belichick seemingly understanding the concepts of opportunity cost and diminishing returns (from the perspective of neoclassical economics). I much prefer Carl Menger's way of formulating these concepts (more technical discussion here). And Tho Bishop's excellent discussion of Belichick as entrepreneur provides a more comprehensive explanation of how the Patriot coach operates. But it's always nice to have some economics included with your Super Bowl enjoyment. 

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