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Ticket Scalping Law in Missouri

A post at Missourinet reports:

The economic development bill before the Senate today legalizes ticket scalping and says local governments cannot ban it. That's good news for St. Louis Cardinals lawyer Ron Waterman, who says Major League Baseball already has set up its own scalping outlet that would operate through the Cardinals website, giving fans a safe, secure way to buy and sell tickets--if ticket scalping is legalized in Missouri.

The internet obviously made it much easier for buyers and sellers to exchange tickets to sporting events, and I'm all for loosening the restrictions on secondary markets. It should surprise no one that former opponents of scalping (the sports franchises) are now in favor, given that they can get a piece of the action. As has been pointed out here before, resale demand increases the value of the initial sale as well. Thus the franchise can win on both ends, particularly by earning a return from offering a safe and secure exchange mechanism. The only losers are the ticket touts operating under the corner lamp post. Long live ticket scalping!

But I do have a gripe. Why does every piece of special interest legislation have to be rolled out under the label of "economic development"? What garbage! By the time the fat cats and politicians get done with it, "economic development" will be shed of any real meaning.

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