Professor Elam

See the previous comment from Adam about the NFL 'only' blacking out 20% of the games. This is such a perfect example of socionomics in action I made another post rather than answer Adam. Look at how the mood changes behavior, the NFL responds the wrong way, and the situation gets worse. 

Convention wisdom, the economy turns down, people become cautious and cut back in their spending. 

Socionomic view, cautious people spend less and the economy turns down. The fact is that the stock market had attracted all the money possible, once that happened the sellers overwhelmed the buyers. 

Now, the trend continues, cautious people save more and avoid purchasing expensive NFL tickets. 

Attendance drops. NFL officials, wanting to make the tickets more valuable, restrict viewership of the game on free television. 

Will this cause cautious people to start buying tickets, the answer is no. 

Will this anger cautious people who now feel cheated out of watching the game, probably. 

But any way you slice it, now with the blackout fewer people watch the game, fewer people are interested in the outcome, fewer people tune in to sports scores and so it goes. 

Meanwhile facing lower gate receipts the NFL is liable to do exactly the wrong thing and raise prices, whoops, here we go….To pay for his stadium Jerry Jones now charges fans to park in the stadium lot….

Cautious people tend to be more conservative in their lifestyles. The who cares if he beat up his girlfriend if he can win on sunday attitude is not likely to play well, so to speak, with cautious people. 

Note the Eagles just hired Mike Vick, fresh from prison on multiple dog abuse convictions. Half of all 
NBA players have been convicted of crimes. Such behavior is tolerated in up markets but not allowed in down markets. Even small indiscretions can become large, just ask Mike Phelps about recreational marijuana….