Back in 1977, economist Armen Alchian wrote an op-ed for the Wall Street Journal explains a link between golf and capitalism. An excerpt:
A puzzle has been solved. Despite their intense interest in sports, no golf courses exist in the Socialist-Communist bloc. Why is golf solely in capitalist societies? Because it is not merely a sport. It is an activity, a lifestyle, a behavior, a manifestation of the essential human spirit. Golf’s ethic, principles, rules and procedures of play are totally capitalistic. They are antithetical to socialism. Golf requires self-reliance, independence, responsibility, integrity and trust. No extenuation is granted misfortune, mistake or incompetence. No second change. Like life, it is often unfair and unjust, with uninsurable risks. More than any other sport, golf exploits the whole capitalist spirit.
It’s a great piece. Read it.
Hat Tip: SCSU Scholars Via Grays On Trays.
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