The NBA Lockout As Explained By An Economics Professor

Andrew Zimbalist

Labor negotiations for professional sports have become a form of entertainment all to themselves. So it is with the NBA lockout. The complete meltdown of the negotiation between a union that represents a group of very wealthy, very specialized workers – professional basketball players – and the owners of their businesses they work for – NBA teams – is likely to have a negative trickle-down affect as games are cancelled and TV networks and venues lose out on a big chunk of revenue.

Sports news website Grantland called up  Andrew Zimbalist, an economics professor at Smith College who has worked with the players’ union in the past

From Jonathan Abrams at Grantland:

On Monday, [15 Nov. 2011] the NBA labor negotiations completely imploded. Billy Hunter and Derek Fisher, with seemingly half of the NBA at their side, declared their intentions to disband the union and file an antitrust lawsuit against the league. In response, NBA commissioner David Stern appeared on SportsCenter and said, “They seem hell-bent on self-destruction, and it’s very sad.”

The rhetoric now moves from meetings in hotels to courtrooms. But what did Monday’s action actually mean?

Have it explained for you by Andrew Zimbalist.