Analyse the relationship between Economics and sport - Book Report/Review Example

Wagner and Deema Yazigi in their paper titled “Form vs. Substance in Selection through Competition: Elections, Markets, And Political Economy”. In this article, Wagner and Yazigi raise an important question that implicates the relationship between sports and the economy. As a common phenomenon, sporting activities involve competition in order to identify the best performers in a particular event. As such, Wagner and Yazigi raise question on how the results of the competition achieve the intended purpose without deviating from anticipated outcomes.

The aspect of competition in sports fits perfectly in the demonstration of the relationship of sports and economy. This is because most economic activities involve some form of competition among the interested parties. On this basis, Wagner and Yazigi explain how market and political competition results vary and get influenced by various factors just like sporting results. Of more significance, the research question presented by Wagner and Yazigi is important for various reasons. In many cases people presume that competition results always provide the best solution to a particular issue.

However, this is not always the case and people need to be informed of the importance of factoring additional aspects in order to get the best results out of competition of their choice. For example, Wagner and Yazigi highlight how a champion diver can exist without necessarily being a great swimmer (503). Similarly, it is a common understanding that environmental factors influence many day-to-day processes hence the need of identifying the environmental impacts on competitive processes. Therefore, Wagner and Yazigi explain how environmental demand and supply forces affect competition results in marketing.

Wagner and Yazigi have tried to answer the research question by use of myriad of approaches. Firstly, the article the two researchers include various examples to prove their argument on a pertinent issue.