ESPN is reporting theres outrage among some observers that people are scalping their free tickets to Alis memorial service in Louisville. Just as there is no such thing as a free lunch, theres no such thing as a free ticket to a memorial service.
ESPN quotes several people who disapprove of the buying and selling, including an Ali family spokesperson who is disgusted and amazed by those selling tickets given that Ali wanted this to be a free event, an event that was open to all.
Unfortunately, its an event that cant be open to all because the arena will only seat about 15,000 people according to ESPN. At a price of zero dollars per ticket, there are more people who want to attend than there are seats in the arena.
If people are not allowed to pay with money, they will pay with their valuable time. ESPN reports that People started arriving outside the KFC Yum! Center in Louisville late Tuesday, hours ahead of the ticket distribution, and the time they spent waiting in line to get tickets to the memorial service was time invested in whats basically a resource-wasting staring contest.
Art Carden is a Research Fellow at the Independent Institute in Oakland, California and an Associate Professor of Economics at Samford Universitys Brock School of Business.