How Olympics Hurt Host Cities More Than Help
By Matt Cantor, Newser Staff
Cities go nuts trying to bring the Olympics home -- and they may not be doing themselves any favors. Sure, if everything runs smoothly, the Games might offer a "small windfall." But the economic reality is far more complicated, writes Andrew Zimbalist at the Atlantic:
Private companies, not cities, are the big winners in the bidding process. Organizing committees largely represent businesses, like construction, that stand to gain from the Games, and their cost-benefit analysis reflects that -- meaning bidding doesn't accurately reflect the city's financial means.
--Written by Mark Cantor of Newser
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