Home Field Advantage: What Sports Teach Us About Limiting Financial Crises Post author By Philip Lane Post date August 10, 2012 Jerry Caprio makes a TED-style presentation here. Categories In Uncategorized 4 Comments on Home Field Advantage: What Sports Teach Us About Limiting Financial Crises ← Trends in public sector numbers → Measured Macroeconomic Performance 4 replies on “Home Field Advantage: What Sports Teach Us About Limiting Financial Crises” It’s a 15 minute long explanation of why we need transparency. Not really worth the watch. Actually, it’s disturbing that people seem to need a 15 minute presentation on the merits of transparency. The importance of transparency should be implicit to anyone with basic common sense. Still though, he meant well. I read the paper rather than listen to the audio. http://www.milkeninstitute.org/publications/review/2012_1/61-75MR53.pdf It moves well beyond an explanation of why we need transparence into proposing how to prevent the capture of a transparency structure. Its not rocket science but should not be dismissed just because it is simple. I would agree! It boils down to the question “quis custodiet ipsos custodes?”. The sporting research shows that the home team advantage is attributable not to the presence of more fans but of the tendency of umpires to favour the home team. There could hardly be a better description of the behaviour of national regulatory authorities. The proposal to have a capacity to refer their decisions to the equivalent in institutional terms of a TV replay of the action by a seperate instance dealing solely with the facts is a good one, especially as it appears grounded in solid research. There is a suggestion in the audio that Ireland may be trying something on these lines (!). There is no need for ‘transparency’ – just the rule of law. If the ‘away’ teams are perpetual cheaters and encouraged in this bad behaviour by nil enforcement then what is the point of ‘rules’? Does ‘home’ or ‘away’ have any real meaning anymore? I think not. Its now (or soon will be) a Hobbsian world. We need a couple of parliamentary terms with a steady trend of un-growth and decreased tax revenues. By then politicians will be desperate for ‘growth’ – literally at any price. But we (US, UK, EU) cannot all grow together – so who loses out then? Chindia? BR..Ss? A does un-growth so B can grow. Nasty interesting prospect. Comments are closed.