An organizational alternative for academics: A sporting proposal

Conclusion

Whether the distribution of talent among schools should be more equal or less equal is a statement having both positive and normative aspects. Like the distribution of income, one would suspect that there is considerable disagreement over the desired amount of equality in academic markets. And it is likely that perfect equality would exact an efficiency price. In the hitting department, for instance, many scholars benefit from agglomeration economies which might not exist under the proposed system.

An additional equity versus efficiency issue relates to the training of new players: while the average quality of training might rise, the training from the top handful of major league teams would likely decline over time as the lower ranked teams drafted the top prospects and acquired free agents. On the other hand, the stigma of being employed by a lower-level team would not be so onerous, since most top draft choices would be expected to go to such teams.

Since economists speak so often of formal models, it is obvious that the economics profession should get its own house in order first. The work incentives, risk definition, and pure joy of competition are all instrumental in the choice of this particular structural model. While it may not be a perfect model in terms of efficiency or the equity notions of some members of the profession, it may well be preferable to the status quo.