Teamwork and Profiteering

Source: EconLog
by Walter Block

“Teamwork is pretty important in determining success in competitive team sports. Eight 90 pound weaklings can beat an equal number of rowers with the power of a Mike Tyson in a regatta, if the former work together and the latter row at cross purposes. Even an excellent 3-point shooter such as Stephen Curry will not take that shot if there is an uncovered team mate hanging around the basket. Why not? By passing the ball, he can increase the expected value of the shot. I don’t care what middle name his parents gave him; his real basketball name is Stephen Teamwork Curry. … But this sort of teamwork is really underwhelming, compared to that which is exhibited in markets every day.” (07/20/22)