LeBron James, The Cavaliers, and Derived Demand
Source: Council for Economic Education (EconEdLink) | Type: Lesson
PBS video author Paul Solman reports that LeBron James has added $200 million in value to the city of Cleveland since 2003. His presence brings in $100 million each year to the workers and local businesses surrounding the NBA team. The concept of utilitarianism states that the action which is moral is one, which produces the most good. In the minds of most individuals in Cleveland, the most good would be produced by LeBron staying, is this true or is it possible that a greater good could be achieved if he left? What more important the well being of those in Cleveland or the well-being of the people of another city of that of Lebron James?
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