Book excerpt: In recent years there has been a great deal of discussion about the economics of baseball. For most of that time, the assumption inside and outside the game has been that there is simply too much disparity between “the haves” and “the have-nots,” especially in terms of salaries and team payrolls. The top five teams (Atlanta Braves, New York Yankees, Cleveland Indians, Seattle Mariners, Houston Astros) and bottom five teams (Florida Marlins, Kansas City Royals, Milwaukee Brewers, Pittsburgh Pirates, Detroit Tigers) over the past ten years are analyzed here. The author considers many factors in his evaluation of each team’s performance, among them team philosophies and business models as shown through trades and free agent acquisitions, general managers’ moves and personnel decisions, and player performance.