Posted by: olymponomics | August 7, 2012

Talking Olymponomics on Business Daily on the BBC World Service

I recently did an interview with Business Daily for the BBC World Service about the economics of hosting the Olympic Games, which aired today. Even amidst the euphoria of Britain’s unprecedented gold rush, there remains great uncertainty over the long-term economic legacy of London 2012: will it offer an escape from economic stagnation or is it just another extravagance to be charged against the credit card of UK PLC, left for future generations to pay off? While there might be short-term boosts gained from spending on infrastructure and venues, and from increased consumption related to the event (despite some evidence that other forms of consumer and tourist spending are crowded out by such mega-events), the long-term economic legacy will remain unclear for some time to come.

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