The Record of Olympic Economics
As the world economy plunges and the financial markets debate the future of EU, the London Olympics provide a pretext to take a holiday and party all night. The latest example of excess and self-absorbed haughtiness, promotes an agenda of internationalism. The spirit of the games is less about sportsmanship than promotion of indoctrination. The cost to produce such an extravaganza approaches sums that necessitate a bailout from the IMF. The article, Winner’s curse? The economics of hosting the Olympic Games, illustrates a disturbing cost for hosting the Games.