Olympic Games - The "Hangover"
Today's "Financial Times" carries an article entitled "After the grand Olympics party, the big hangover" and provides more details of the costs of staging the games and the budget overruns.
"The cost overruns, equivalent to about 2.5 per cent of gross domestic product, would push the budget deficit above the 3 per cent of GDP ceiling permitted under the eurozone stability and growth pact for a second successive year."
Can't help thinking that frivolous events like the Olympics are the modern day equivalent of the "Bread and Circuses" of ancient Rome - entertainments to distract the citizenry from more important issues.
Another negative of events like the Olympics is that they pander to and encourage the worst sort of chauvinistic nationalism. An example of this is an article in yesterday's "Sydney Morning Herald" by Paul Sheehan (click here). Sheehan glories in Australia's sporting success, even though he acknowledges the cost of this "success".
"I estimate the cost per Olympic medal at about $5million in direct government spending, which does not include corporate sponsorship, which is not measurable."
Of course, it's quite alright for the government to make this decision to spend your tax dollars.
"Some would consider $5million a medal, or about a quarter of a billion dollars over four years, as a frippery. Given how hard it is to excel on a world stage against all comers, and how expensive, I consider it money well spent.
Australia's success at these and other Olympics tells me this society is in great shape. Now we have to spread the elite Olympic wealth into the battle against the nation's spreading waistline."
So there you have it! Australia can hold it's head up high and look the world in the eye because a bunch of our youths have swum up and down a pool or raced round a cycle track better than the other lot! Much though I love Australia, this country has a serious self-esteem problem that often manifests itself in the arena of sports and the importance that is attached to them.
Let's be blunt. The money spent on sports is a complete waste. It has no direct benefit for the ordinary citizen. If Sheehan is so keen for Australia to excel on the world stage, then the money would go to better use by being left where it belongs - in the hands of the citizens who created it, rather than being handed out to a bunch of non-productive jock drones!
"The cost overruns, equivalent to about 2.5 per cent of gross domestic product, would push the budget deficit above the 3 per cent of GDP ceiling permitted under the eurozone stability and growth pact for a second successive year."
Can't help thinking that frivolous events like the Olympics are the modern day equivalent of the "Bread and Circuses" of ancient Rome - entertainments to distract the citizenry from more important issues.
Another negative of events like the Olympics is that they pander to and encourage the worst sort of chauvinistic nationalism. An example of this is an article in yesterday's "Sydney Morning Herald" by Paul Sheehan (click here). Sheehan glories in Australia's sporting success, even though he acknowledges the cost of this "success".
"I estimate the cost per Olympic medal at about $5million in direct government spending, which does not include corporate sponsorship, which is not measurable."
Of course, it's quite alright for the government to make this decision to spend your tax dollars.
"Some would consider $5million a medal, or about a quarter of a billion dollars over four years, as a frippery. Given how hard it is to excel on a world stage against all comers, and how expensive, I consider it money well spent.
Australia's success at these and other Olympics tells me this society is in great shape. Now we have to spread the elite Olympic wealth into the battle against the nation's spreading waistline."
So there you have it! Australia can hold it's head up high and look the world in the eye because a bunch of our youths have swum up and down a pool or raced round a cycle track better than the other lot! Much though I love Australia, this country has a serious self-esteem problem that often manifests itself in the arena of sports and the importance that is attached to them.
Let's be blunt. The money spent on sports is a complete waste. It has no direct benefit for the ordinary citizen. If Sheehan is so keen for Australia to excel on the world stage, then the money would go to better use by being left where it belongs - in the hands of the citizens who created it, rather than being handed out to a bunch of non-productive jock drones!
posted by Kevin Francis at
8:50 am
