12 Leaders The EconomistMarch 21st 2020
2 parliament directly accountable to party leaders rather than to
constituents. This poisons political debate, thwarts compromise
and undermines any sense of unified national purpose.
The election this month was a delayed response to a vote of no
confidence in Mr Granger’s government in December 2018. He
put it off as long as possible, compounding the opposition’s mis-
trust. As the votes were being counted suspicion flared up. The
government’s vote share in its stronghold, the region including
the capital, Georgetown, appeared to offset its losses elsewhere.
Western diplomats warned of fraud. Mr Granger agreed to a re-
count, to be supervised by observers from the Caribbean Com-
munity. But a court has issued an interim injunction blocking it.
A further ruling is expected on March 20th. America’s secretary
of state, Mike Pompeo, has warned of “serious consequences” if
the votes are not counted fairly.
There are no innocents in this story. The pppgoverned for 23
years until Mr Granger took office in 2015. Many Guyanese re-
member that period as one of large-scale corruption and Indo-
Guyanese chauvinism. Mr Granger’s government, though not
free of graft or racial animus, has held itself to a higher standard.The president is thought to be personally honest. He governs in
partnership with the Alliance for Change, a multiracial party.
Although institutions are weak, in part because of very high
emigration, the government has tried to deal with the risks that
come with sudden oil wealth, such as corruption and an over-
valued currency. All the money will flow into a sovereign-wealth
fund. The rules for drawing it down are strict. The government
has not indulged in a debt-fuelled spending spree in anticipa-
tion of the oil windfall, one reason it may have lost the election.
There is no reason to think that the pppwould govern better. It
wants to scrap the law that created the sovereign-wealth fund,
supposedly because it gives politicians too much control. A new
law could create more opportunity for patronage and mis-
spending. But pessimism about a pppadministration does not
justify electoral theft. The votes must be counted honestly. Just
as important, Guyana must find a way out of the dead end into
which ethnic animosity has driven it. That will require a change
of political culture and constitutional reforms. Petrodollars may
help. But only if the government that controls them is honest,
competent and legitimately elected. 7M
ost fans of professional sports have some kind of ritual as-
sociated with watching a game. Perhaps they wear their
team’s shirt, scarf or hat to show their allegiance and bring their
team luck. They may organise a “tailgate” party in the stadium
car park, or head to a nearby bar to be with friends. For many, the
match is the highlight of the week. And their emotions will rise
and fall with the fortunes of their team. So the sudden cancella-
tion of sporting events because of the coronavirus outbreak has
come as a great disappointment.
Almost all the most prestigious events have been postponed:
top-flight football matches, professional basketball and its
“March madness” college equivalent, Major League Baseball,
professional ice hockey, the Masters golf, the
French Open tennis and Formula 1 car-racing.
The Euro 2020 football championship has been
put off until 2021. The prospects for the Tokyo
Olympics in July and August are doubtful.
The economic implications will be signifi-
cant. Sport is a big business. As well as attending
games, American fans buy around $15bn of
sports merchandise annually. Globally, many
fans pay to subscribe to a sports channel to watch games; the glo-
bal audience for English Premier League football was 3.2bn peo-
ple last season in 188 countries. The tvrights for Premier League
matches are worth £3.1bn ($3.6bn) a season. Loyal viewers mean
companies like to associate themselves with teams; global
sports sponsorship was estimated to be worth $55bn in 2018. Up
to $150bn is wagered illegally on sports every year in the United
States and more than 50% of Americans have placed a sports bet
at some point.
But the effect on consumer sentiment of the hiatus may be
even greater. Surveys suggest that 59% of Americans are sports
fans. For many, the loss of their favourite sports events will com-pound the effect of being stuck at home. An important source of
enjoyment will disappear. And alternative sources of entertain-
ment are hard to find. Big movie releases, such as the latest James
Bond film and Disney’s “Mulan”, have been postponed. Broad-
way has been closed down. Many rock concerts have been can-
celled or postponed. Classical recitals (traditionally a magnet for
a nation’s worst coughers) have gone the same way.
The cancellations are understandable. Allowing people to
congregate in huge numbers during a pandemic seems like a big
risk. Mass events also require a large presence of police and
emergency services who may be needed elsewhere.
John Maynard Keynes talked a lot about the importance of
“animal spirits” to economic growth. How will
consumers feel when all forms of collective en-
joyment are denied them? There are only so
many Netflix shows one can binge-watch with-
out going stir crazy. The Romans understood the
importance of “bread and circuses”—keeping
the public not just fed, but entertained, too.
Hence the provision of gladiatorial games and
chariot races in ancient times.
In the second world war many sports were cancelled as play-
ers were conscripted into the armed services. But exhibition
games were played where possible. A British services eleven
played football in newly liberated Paris and Brussels in Septem-
ber 1944. In America a women’s baseball league was organised.
Tyler Cowen, an economist, has proposed that a small number of
elite athletes could be tested for the virus and then cocooned.
After a quarantine period, they could play all-star games to keep
citizens entertained, with audiences watching via the internet or
tv. It seems an idea worth exploring. If all work and no play
makes Jack a dull boy, then no work and no play risks making
Jack (and Jill) depressed and discontented. 7The game’s the thing
Cancelling sport will dent morale. A solution may be neededProfessional sports