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The Rise And Fall (And Rise And Fall) Of The Olympic Games As An Economic Driver, Victor Matheson
The Rise And Fall (And Rise And Fall) Of The Olympic Games As An Economic Driver, Victor Matheson
Economics Department Working Papers
This paper traces the economic history of major sporting events focusing on the Olympics. Historically, the Olympic Games as well as other major sporting events have been considered costly events that place a burden on host cities. Only in relatively recent years, coinciding with the massive increases in the cost of hosting these events, have event organizers begun to claim that these events bring with them large economic benefits.
Point/Counterpoint: Is There A Case For Subsidizing Sports Stadiums?, Victor Matheson
Point/Counterpoint: Is There A Case For Subsidizing Sports Stadiums?, Victor Matheson
Economics Department Working Papers
In recent decades, governments have committed enormous public resources to subsidize construction of new stadiums, and the dollar value of taxpayer contributions for these subsidies continues to climb. Spending of taxpayer dollars includes both direct subsidies from state and local governments, as well as indirect subsidies from the use of tax-exempt bonds to finance construction. In granting stadium subsidies, governments claim that the stadiums are a public good that attracts tourists and businesses, thereby generating increased spending and job creation—benefits that flow to the community rather than to team owners. But do such benefits exist, and are they large enough …