The New Orleans Saints’ dramatic 31-17 victory over the favored Indianapolis Colts and Peyton Manning in Super Bowl XIIV was, by any measure, quite an accomplishment for a team mired in 42 years of mediocrity and representing a city devastated 5 years ago by Hurricane Katrina. And the pride and enthusiasm that New Orleans residents feel today over their team’s improbable success is understandable. That said, I cannot buy into the conventional narrative that somehow this is a victory for the people of New Orleans and the Gulf Coast region. Many economists debunk the popular view that the success of a professional sports franchise has a positive impact on economy of a city or region. Despite the Saints' victory, New Orleans remains a city struggling to recover from the destruction of Katrina.
