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The Lebron James Economy: A Cautionary Tale

In case you haven’t heard, Lebron James, the best basketball player in the world, is leaving South Beach behind and will play for his hometown team again, the Cleveland Cavaliers, this upcoming NBA season. From a basketball perspective, James instantly turns one of the worst teams in the league into one of the best, as the Cavs now have a legitimate shot at the NBA title. But, bigger than that, Bloomberg reports that the signing of James (a $21-million-a-year cost to the Cavs) is worth $215 million to the city of Cleveland. “He’s a walking, talking economy,” Nick Kostis, owner …Read more »

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