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Markets Misprice

Markets misprice: fact.

Just look at the fact that some enormously overpaid footballers have been humiliated over the last couple of weeks by a succession of teams staffed by people who are paid less.

Congratulations to all England’s opponents for pointing this fact out so graphically. 

´╗┐Richard Murphy at Tax Research UK.

(Of course this assumes that the aim of football is to win games, and not just to make lots of money by franchises, sponsorship deals, advertising, TV rights, etc.)

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