Download Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup

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Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup

Download Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup

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Review

"You'll be hearing a lot in the coming years about the problems cities face when they consider hosting the Olympic Games and the World Cup. This international issue is thoroughly explored by Andrew Zimbalist in his important new book, Circus Maximus.  Zimbalist is the perfect person to delve into this timely topic, located at the intersection of sports and economics."—Christine Brennan, USA Today national sports columnist, ABC News and CNN commentator"Andrew Zimbalist is a perpetual source of insight on the economics and administration of modern sports.  When weighing the very real risks and rewards of hosting major international events, political leaders and informed citizens should carefully consider the information and arguments presented here before rolling the dice."—Bob Costas, Broadcaster, NBC Sports and Major League Baseball Network"It's time for cities to stop the mega-sports madness. Andrew Zimbalist  shows why hosting the Olympics and the World Cup is almost always a boondoggle. Great stuff!"—Richard Florida, Director of the University of Toronto's Martin Prosperity Institute and author of The Rise of the Creative Class"Andrew  Zimbalist documents how the officials who run the international sports organizations that authorize these events profit handsomely, while host cities and nations experience ever-increasing losses, and  why before-the-fact claims that such events will deliver long-term economic benefits typically are wildly inaccurate."—Roger Noll, Professor of Economics, Stanford University"Pssst.  Wanna buy a velodrome cheap? Andrew Zimbalist's penetrating examination of how the International Olympic Committee and FIFA have sweet-talked cities and nations into hosting their extravaganzas is absolutely devastating in its ugly detail."—Frank Deford, Author and Commentator"Circus Maximus shines a bright light on the much-needed discussion about the unconscionable expense surrounding both the bidding process and hosting of the Olympics and the World Cup. The perfectly titled book will leave you gasping for reform. Immediately."—Julie Foudy, ESPN analyst, former U.S. national soccer team captain-winner of two World Cups and three Olympic medals"Indispensable for anyone who wants to understand the impact of hosting the Olympics."— Evan Horowitz, Boston Globe

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About the Author

Andrew Zimbalist is the Robert A. Woods Professor of Economics at Smith College. He is the author of three Brookings Institition Press titles: Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums (1997); May The Best Team Win: Baseball Economics and Public Policy (2003); and National Pastime: How Americans Play Baseball and the Rest of the World Plays Soccer (2005).

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Product details

Hardcover: 175 pages

Publisher: Brookings Institution Press (January 14, 2015)

Language: English

ISBN-10: 9780815726517

ISBN-13: 978-0815726517

ASIN: 0815726511

Product Dimensions:

6 x 1 x 9 inches

Shipping Weight: 1.1 pounds (View shipping rates and policies)

Average Customer Review:

4.4 out of 5 stars

34 customer reviews

Amazon Best Sellers Rank:

#507,288 in Books (See Top 100 in Books)

This is an extremely well written book that relentlessly and completely gives the lie to the oft-spoken idea that large sporting events like the Olympics and World Cup are economic gold mines for host cities or countries. Simply put, they aren't. But it's worse than that. Andrew Zimbalist uses facts, pertinent economic explanations, humor and irony to explain how host cities are nearly all left with economic disasters after the Olympics and World Cup leave town, taking most of the financial gain with them. The book showcases the sometimes insane euphoria, and big cash, that goes into bidding for world class sporting events with promises of increased tourism during the games that extends after the games, increased cache and economic preimenance that go along with hosting such events.Zimbalist does a fantastic job of explaining that the Olympic Games don't even bring more tourists to a city while they are happening, let alone for years afterward. London actually had fewer tourists in the Summer of 2012. As for the supposed cache attached to host cities, this book explains it can all go bad if there is a terrorist attack, protests, or, as in Brazil, deaths associated with the construction of venues.And the book showcases how the 'legacy' of hosting these events can often turn into a public relations nightmare when, like Athens and Beijing there are rotting stadiums that scar the landscape, or, like Sochi, you leave an impression of an infrastructure mess.And for those cities who eagerly jump at the chance for a bid, they often cite the 1984 Olympic Games in LA (which turned a modest profit) and the 1992 Barcelona Games, (which excellerated that city's rise as a city of consequence), Zimbalist clearly why those two cities are singular events, not easily reproduced.I love the Olympics. This book tells another side of the story beyond the athletic drama of the games. After reading this book, I hope my city never even bids for an Olympics.

Through the use of extensive facts and data Zimbalist makes the case that the Olympic committees and promoters are only concerned with their own profit and power. Everyone in Massachusetts who will vote on soliciting the forthcoming Olympic bid should read this book. If history is a guide it will be your tax dollars making up the cost overruns despite the promises that not a single tax dollar will be used.I feel sorry for the people of Brazil. The book details the heavy price they paid for hosting the 2014 World Cup games. Now they are on the path for another costly venture with the upcoming Olympics. Journalists are reporting problems unfolding just as Zimbalist cited in this book.

This is a very interesting book. It concerns the gamble that's taken by governments with the World Cup and the Olympic Games. It took Montreal thirty years before it paid off its debt from the Olympics. They aren't an investment but should rather be seen more as an expenditure for public approval. After all everybody loves a party until the bill arrives.

Liked the book, living in Boston it helped open my eyes to how bad hosting the Olympics can be, even on a good day. It had some significant sections that seemed to repeat. At some level it seemed like a solid long-form article for The Atlantic that got stretched into a book.But I still tell everyone I know to read it. Boston 2024 will be a giant sink hole for money, not unlike the Big Dig.

Mr. Zimbalist gives you an economist's perspective without getting so wonky you can't see straight.It's incredible what goes into building these mega events and, that's before they turn the first shovel.It's awful and compelling to consider everything that goes into these events. I'm one who thinks the Olympics are cost too much to host.And I tune in every time.

This book gave me great insight into the Olympic games as well as other large sporting events. The amount of planning and spending that occurs is really eye opening. This book sheds a lot of light on the problems with the Olympics and the amount of money countries waste with little to show afterwards. Very interesting.

Professor Zimbalist has once again managed to write a book about a fascinating and extremely complex topic in a way that reads easily and excitingly - even for the casual sports fan (or tax payer) without an advanced degree in economics. I highly recommend this book for any Bostonian (or citizen of the Commonwealth of Massachusetts) who found him/herself excited about the recent announcement that Boston is the USOC's pick as host city candidate for the 2024 Olympics.Professor Zimbalist lays out all the pros and cons of hosting the Olympics or the FIFA World Cup, and even the most ardent sports fan will have to concede that at a minimum the money to host such a mega event would be better spent on infrastructure and programming to benefit the local citizens well into the future.

All over the world, countries and cities think that hosting mega sporting events like the Olympics or World Cup would be an economic panacea. As this excellent book shows, this is not correct. Occasionally, these events produce an economic benefit for the host location; most often they do economic harm. Written for the non-specialist reader, the book reviews the reasons why this is the case as well as presenting fascinating case studies of such economic fiascos as Russia's Winter Olympics in Sochi or Brazil's recent World Cup. It also presents some best practices that cities would be well advised to follow. In particular, the book should be read by citizens of Boston, which is competing for the 2024 Summer Olympics. Wonderful book.

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