The Olympics Don't Have to Be a Disaster

"The Rio Olympics have not yet proved to be the disaster that some had feared. Zika still lurks about, of course, but we haven’t heard the kind of humiliating tales of catastrophes small and large that dogged the Sochi Winter Olympics in 2014.

The best case, however, is still a disaster -- for the host. Brazil has spent an estimated $12 billion on the games, and while much of it has gone to upgrading infrastructure, much of it has gone to the sort of infrastructure that doesn’t have great long-term payoffs, like arenas in which to stage little-watched events."

 

[Bloomberg]