economics of horse racing

In Global Views, Godolphin Flying Start trainees provide insight into practices experienced and observations taken on their worldwide travels. Second-year trainee Rachel Wade discusses how racing must gain a clearer understanding of its economics. Often vaguely described, economics is a study in human choice and behavior and their effect on society. The term has historically carried a monetary connotation but really delves into how different choices are made, why humans make those choices and what the implications of those choices are to industry and the wider economy. As such, it...