Quantcast
Last updated on April 16, 2014 at 17:20 EDT

Heartland Institute Experts Applaud Ticket Scalping Bill in Michigan

October 31, 2013

Residents of Michigan could soon gain the liberty to sell tickets to sporting events and concerts at a price above its face value – a currently illegal, but largely tolerated practice known as scalping. State Rep. Tim Kelly (R-Saginaw) this week introduced House Bill 5108, a measure that would repeal an 82-year-old Michigan law outlawing scalping.

Chicago, IL (PRWEB) October 31, 2013

Residents of Michigan could soon gain the liberty to sell tickets to sporting events and concerts at a price above its face value – a currently illegal, but largely tolerated practice known as scalping. State Rep. Tim Kelly (R-Saginaw) this week introduced House Bill 5108, a measure that would repeal an 82-year-old Michigan law outlawing scalping.

The following statements from public policy experts at The Heartland Institute – a free-market think tank – may be used for attribution. For more comments, refer to the contact information below. To book a Heartland guest on your program, please contact Director of Communications Jim Lakely at jlakely(at)heartland(dot)org and 312/377-4000 or (cell) 312/731-9364.

“It is great to see Michigan is finally considering opening up its ticket market to competition. So-called ‘scalping laws’ undercut the thriving and already competitive secondary ticket market. These regulations hurt both sellers and buyers by unnecessarily distorting the free market.

“The current restrictions on the sale of tickets in Michigan are bad for ticket buyers and ticket sellers.”

John Nothdurft

Director of Government Relations

The Heartland Institute

jnothdurft(at)heartland(dot)org

312/377-4000

“Resale markets exist for all kinds of things: cars, houses, jewelry, clothing, electronics, furniture, etc. Once we’ve bought something, it’s ours. If we want to resell it and someone wants to buy it from us, we should be free to make the deal.”

Steve Stanek

Research Fellow, Budget and Tax Policy

The Heartland Institute

Managing Editor

Budget & Tax News

sstanek(at)heartland(dot)org

815/385-5602

“Live entertainment is a multibillion-dollar industry that has become increasingly expensive, with tickets becoming harder for fans to afford. While many ticket agencies place much of the blame on scalpers and have pushed for anti-scalping laws, the reality is that the secondary market has actually improved the ticket market by creating competition and allowing ticket sellers the ability to accurately determine prices based on demand.

“The creation of an active and competitive secondary market makes anti-scalping laws unnecessary. Before the advent of the secondary market, ticket pricing was arbitrary. Now the dynamic nature of the secondary market allows ticket sellers to determine prices on a real time basis. Dynamic pricing is a mechanism that many venues and promoters are now beginning to embrace. Lowering these barriers will allow Michigan ticket owners the ability to sell their property as they see fit while creating a more competitive ticket market.”

Matthew Glans

Senior Policy Analyst

The Heartland Institute

mglans(at)heartland(dot)org

312/377-4000

“The scalping laws that have been on the books in my home state of Michigan since the 1930s ostensibly protect me from paying more than face value for those Springsteen tickets at the Palace of Auburn Hills. Thank you, but no: I do not need protection from legally enforced distortions of the law of supply and demand. No one is exploiting me if I outbid that couple from Garden City for choice seats to see the Boss as I’ve made that conscious choice on my own, intoxicated only by my desire to experience rock’n’roll bliss at whatever cost I can afford to pay.”

Bruce Edward Walker

Policy Advisor, Telecom

The Heartland Institute

bwalker(at)heartland(dot)org

989/430-5557

“As I learned from my professor, Armen Alchian, in the UCLA Ph.D. economics program back in 1967, resale markets are essential to the economically efficient functioning of the markets for new goods such as housing and automobiles, to mention just two.

“Imagine a world, for example, in which homeowners and auto owners were not allowed to resell their homes and cars. There would be many fewer homes and cars produced, bought, and sold. The same is true for tickets sold for the enjoyment of sporting and other events. Whether allowing this scope for maximum liberty and utility is good or bad thing, of course, is a moral judgment. But it is a judgment founded on the principle of individual liberty, which each of us should embrace.”

Thomas Walton, Ph.D.

Director, Economic Policy Analysis

General Motors (retired)

media(at)heartland(dot)org

312/377-4000

“Whether a ticket to an event, once purchased, is personal property or a license controlled by the ‘host’ is a question about which legal scholars can disagree. As a practical matter, however, the market allocates scarce resources more effectively than monopoly control with monopoly pricing, and so I salute this practical nod to market economics. The sub rosa issue, though, may actually be the ability of the state to collect tax revenue on resales, so we shall see how this fares in a state whose largest city has already filed for bankruptcy.”

David L. Applegate

Policy Advisor, Legal Affairs

The Heartland Institute

media(at)heartland(dot)org

312/377-4000

“This proposal should be welcomed by all who prize human liberty. Sadly the principle on which it rests is now buried under thousands of other rulings that contradict it by courts all the way to the United States Supreme Court. Maybe this will be a new beginning for at least one vital element of a free society.”

Tibor R. Machan

Professor Emeritus of Philosophy

Auburn University

R. C. Hoiles Endowed Chair in Business Ethics and Free Enterprise

Argyros School of Business & Economics

Chapman University

tmachan(at)gmail(dot)com

312/377-4000

“Allowing legal scalping does not hurt demand for tickets. Mostly, it shifts demand as speculators buy up tickets in advance. Also, while it’s easy to see the money speculators sometimes make, on average speculators tend to make only a fair rate of return. Finally, isn’t it a good thing that the free market redistributes money from those who can afford to spend big money on tickets to the ordinary fans who will pocket the cash and enjoy the game at home or at a sports bar?”

Clifford Thies

Eldon R. Lindsey Chair of Free Enterprise

Professor of Economics and Finance

Shenandoah University

cthies(at)su(dot)edu

540/665-5450

“It is sad how infrequently government recognizes and respects our right to private property. And how often it violates it. It is heartening to see this attempt to undo its assault on this right.”

Seton Motley

President, Less Government

Policy Advisor, Telecom

The Heartland Institute

smotley(at)lessgovernment(dot)org

312/377-4000

The Heartland Institute is a 29-year-old national nonprofit organization headquartered in Chicago, Illinois. Its mission is to discover, develop, and promote free-market solutions to social and economic problems. For more information, visit our Web site or call 312/377-4000.

For the original version on PRWeb visit: http://www.prweb.com/releases/2013/11/prweb11291491.htm


Source: prweb