Austerity Games, Not!

This week's issue of The Economist (July 21-27) contains several pieces on the economics (what else?) of the London Olympics.  Incredibly, the organizers' bloated budget-on-steroids stands at an economy-crippling $14.5 billion, nearly four times the original estimate of $3.7 billion! For good or ill, 2012 will be nothing like London's post-World War tightwad games of 1908 and 1948.  You can read The Economist's take on the winners and losers here-->

http://www.economist.com/node/21559326

as well as watch an excellent video conversation between The Economist editors Oliver Morton and Robert Guest on the business of the Olympic Games.  The 5:35 min. video is available here-->

http://www.economist.com/blogs/schumpeter/2012/07/cashing-olympics