Download e-book for kindle: Circus Maximus: The Economic Gamble Behind Hosting the by Andrew Zimbalist

By Andrew Zimbalist

The numbers are wonderful: China spent $40 billion to host the 2008 summer time Olympic video games in Beijing and Russia spent $50 billion for the 2014 Sochi wintry weather video games. Brazil's overall expenses are idea to were up to $20 billion for the area Cup this summer season and Qatar, as a way to be the positioning of the 2022 global Cup, is estimating that it'll spend $200 billion. How did we get the following? And is it worthy it? these are one of the questions famous activities economist Andrew Zimbalist solutions in Circus Maximus: the industrial Gamble in the back of webhosting the Olympics and the area Cup. either the Olympics and the area Cup are touted as significant fiscal boons for the international locations that host them, and the contest is fierce to win web hosting rights. constructing nations specially see the occasions as an opportunity to face within the world’s highlight. Circus Maximus strains the trail of the Olympic video games and the area Cup from noble sports to shows of extra. It exposes the hollowness of the claims made by way of their deepest boosters and govt supporters, all illustrated via a chain of case stories ripping open the stories of Barcelona, Sochi, Rio, and London. Zimbalist reveals no internet financial earnings for the international locations that experience performed host to the Olympics or the area Cup. whereas the rich may perhaps revenue, these within the center and decrease source of revenue brackets don't, and Zimbalist predicts extra outbursts of political anger like that obvious in Brazil surrounding the 2014 global Cup.

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Extra info for Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup

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Muhammad's follow­ ers dominated the great conduit of long-range world commerce, the In­ dian Ocean, and in the process spread his powerful message from west Africa to the South China Sea. Then, with breathtaking speed, a newly resurgent West took control of global trade routes in the decades follow­ ing the first roundings of the Cape of Good Hope by Bartholomew Diaz and Vasco da Gama. Can we understand these events under the larger ban­ ner of the history of trade? The great national trading organizations, particularly the English and Dutch East India companies, spearheaded Europe's commercial dominance and made world trade the nearly exclusive province of large corporate en­ tities and, in the twentieth century, of the multinational corporation.

It was costly enough in China; in Rome, it was yet a hundred times costlier—worth its weight in gold, so expensive that even a few ounces might consume a year of an average man's wages. Only the wealthiest, such as Emperor Elagabalus, could afford an entire toga made from it. The other way to Rome, the famous Silk Road, first opened up by Han emissaries in the second century of the Christian era, bumped slowly overland through central Asia. This route was far more complex, and its precise track varied widely with shifting political and military conditions, from well south of the Khyber Pass to as far north as the southern border of Siberia.

The pro­ cess in which sulfur, oxygen, chlorine, or carbonate, depending on the type of ore, are removed from it to yield the pure metal—smelting—first saw the light of day in approximately 3500 BC. The metallurgists of the Fertile Crescent soon began mixing their local copper with an exotic im­ ported metal, tin. Not only was the new hammered copper-tin alloy as hard and durable as that of the previous copper-arsenic and copper-antimony alloys, but it melted at a much lower temperature than pure copper.

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Circus Maximus: The Economic Gamble Behind Hosting the Olympics and the World Cup by Andrew Zimbalist

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