Buchler Phillips Quarterly Bulletin No.6 - An inflated view of their worth

An inflated view of their worth

Footballers probably don’t worry too much about inflation. Top players are fabulously wealthy and their demand for most goods and services is relatively inelastic. But even the ‘beautiful game’ is distorted by inflation when you look at the effect it has on the eye-watering transfer fees paid to soccer superstars.

Paul Pogba’s world record signing to Manchester United for £89m this year...