Ecological Economics and Sport Stadium Public Financing

Abstract

Given the recent importance that sport organizations, academics, and the public have placed on environmental sustainability this article introduces the study of ecological economics — founded upon Nicholas Georgescu-Roegen’s application of thermodynamics to economics — to legal perspectives on public financing. The authors argue that the economic growth limits implied by thermodynamic principles should be incorporated in the public financing of sport stadiums. More specifically, municipalities can require facilities receiving public financing to produce environmental cost accounting reports and to make them publically available.

Keywords: Ecological economics, stadium financing, sports law, Georgescu-Roegen

JEL Classification: A10, A12, A19, K1, K10, K32, Q10, Q59, Q57, Q58, Z2, Z20, Z23, Z28