Circus maximus: the economic gamble behind hosting the Olympics and the World Cup

225 Pages·2016·3.796 MB·English

by  Zimbalist, Andrew S

AN ECONOMIST BEST BOOK OF 2015
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How did both the Olympics and the World Cup evolve from modest I
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sporting events to exhibits of excess? Andrew Zimbalist traces the
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path, from the first modern Olympics in 1896 and the first World Cup in
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1930, to today’s spectacles. L
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A remarkable study that exposes the extraordinary chicanery and dodgy dealing
behind staging the Olympics and the World Cup.
—The Guardian
Anyone in our broad metropolitan region who worries about the development
binge that treats our unique area as a mega-mall for paving over, or who worries
about the corrupting influence that commercialization has brought to all amateur
sports should read this book.
—The Washington Times
A slim yet persuasive book that seeks to set out the “economic gamble behind
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hosting the Olympics and the World Cup.” And it succeeds; indeed, it succeeds to
such an extent that the reader can’t help but wonder why on earth any vaguely
sensible city or country would want to play any part in such an expensive business.
—SB Nation
Circus Maximus ought to be required reading for the city and state officials anxious
to bring the Olympics to Boston.
—The Boston Globe
ANDREW ZIMBALIST is the Robert A. Woods Professor of Econom-
UP
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other books, he is the author of three Brookings Institution Press titles:
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Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and D
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Stadiums (1997); May the Best Team Win: Baseball Economics and Pub- I
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lic Policy (2003); and National Pastime: How Americans Play Baseball N
and the Rest of the World Plays Soccer (2005).
BROOKINGS INSTITUTION PRESS
Washington, D.C.
www.brookings.edu/press
THE ECONOMIC GAMBLE BEHIND HOSTING
THE OLYMPICS AND THE WORLD CUP
Cover by Sese/Paul Design
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CIRCUS
MAXIMUS
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CIRCUS
MAXIMUS
The Economic Gamble Behind Hosting
the Olympics and the World Cup
2ND EDITION
ANDREW ZIMBALIST
BROOKINGS INSTITUTION PRESS
Washington, D.C.
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Copyright © 2015
Paperback edition copyright © 2016
THE BROOKINGS INSTITUTION
1775 Massachusetts Avenue, N.W., Washington, D.C. 20036
www.brookings.edu
All rights reserved. No part of this publication may be reproduced
or transmitted in any form or by any means without permission
in writing from the Brookings Institution Press.
The Brookings Institution is a private nonprofit organization de-
voted to research, education, and publication on important issues
of domestic and foreign policy. Its principal purpose is to bring
the highest quality independent research and analysis to bear on
current and emerging policy problems. Interpretations or conclu-
sions in Brookings publications should be understood to be solely
those of the authors.
Library of Congress Cataloging- in- Publication data are on file.
ISBN 978- 0- 8157- 2724- 8 (pbk. : alk. paper)
ISBN 978- 0- 8157- 2727- 9 (ebook)
ISBN 978- 0- 8157- 2728- 6 (pdf)
Typeset in Sabon and Gotham Narrow
9 8 7 6 5 4 3 2 1
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To the memory of
Ellie Abend (1924–2014),
my loving mother- in- law
and intrepid copy editor
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Contents
Preface to the Second Edition ix
Preface to the First Edition xv
1 What’s Wrong with the Olympics
and the World Cup? 1
2 Setting the Stage 9
3 The Short- Run Economic Impact 35
4 The Long- Run Economic Impact 57
5 Barcelona and Sochi 75
6 Rio- Brazil and London 95
7 Bread or Circuses? 127
Postscript 145
Notes 165
Index 197
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Preface to the Second Edition
I
t’s been an active year for the Olympics and the World Cup
since the publication of the hardback edition of this book: an ugly
scandal broke out at FIFA; the IOC passed its Agenda 2020 reform
program; Rio stuttered its way toward the 2016 Olympics; Tokyo
threw out its $2.5 billion plans for a new Olympic Stadium; Boston
bidders bumbled their way to extinction; and the Russian government
seems to have engaged in a massive cover-up and bribery scheme to
promote extensive doping among its track-and-field athletes.
The first edition of Circus Maximus was published shortly after the
U.S. Olympic Committee chose Boston to represent the United States
in the international competition to host the 2024 Summer Games.
Living in Massachusetts, I was immediately insinuated into the public
discussion on the desirability of Boston hosting the Olympics: writ-
ing op- eds in the Boston Globe, giving public lectures, appearing on
radio and television talk shows, testifying before the Boston Finance
Committee, the NAACP executive committee, and the state senate,
working with Chris Dempsey at No Boston Olympics, receiving a
request from Boston 2024 to work with it, debating Steve Pagliuca
and Dan Doctoroff on prime time television, and more. Mostly it was
stimulating, edifying, and fun, though I got called a few names along
the way— which I came to appreciate as badges of honor.
ix
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