Over the last month, one question seemed to be on everyone’s mind at the economic conferences I attended in Europe: How did referees miss a goal that England scored against Germany in their World Cup match? The goal in question struck the crossbar, bounced down and landed a full yard inside the goal, then flew out onto the field, all in the blink of an eye.
Soccer reform wasn’t the stated focus of these conferences. But thinking about how to improve the sport’s regulations comes naturally to economists, especially after a few beers, because some of the same principles should be applied to economic regulation.
More in his latest Economic View column.