Question

Econ 3030- Economics & Sports

Explain the invariance principle, i.e. why, with or without Free Agency, Babe Ruth (perhaps history’s most famous baseball player) was destined to play for the Yankees.

Answer 1

Invariance principle :- It is a simple attempt to explain similarities and disimilarities between how an idea is understood in ordinary usage and how it is understood when used as a conceptual metaphor. It offers the hypothesis that only maps components of meaning.

Babe Ruth :- Goerge Herman “Babe” Ruth Jr. was an American professional baseball player. He was famous for his work for New York Yankees as a Batter.

In Babe Ruth’s first year with the Yankees in 1920, he hit 54 homers to break his own record. the Yankees were ready to offer Ruth a contract of $20,000 per year. Some people criticized this contract and some are in favour to this. Many economists recognized this deal as being true from a financial perspective. They felt that Ruth was more valuable to the Yankees. Ruth did lead the Yankees to success in the standings and also in box office.

So according to invariance principle, it is right to say that with or without Free Agency, Babe Ruth was serendipity to play for the Yankees.