London Olympics … Boon or Boondoggle?

from The Daily Bell

Boris Johnson: We will reap economic rewards for years … The Olympic Games were “money well spent” as tourists delivered a huge boost to restaurants, nightclubs and theatres over the past two weeks, Boris Johnson has said. Mr Johnson said crime dropped by five percent and eight out of every ten hotel rooms were full – far higher than during either the Beijing or Sydney Games. The London mayor suggested most people would think the estimated £9.3 billion cost of Britain’s most successful Olympics for a century was good value. − UK Telegraph

Dominant Social Theme: If politicians create really huge boondoggles, they can hide the costs for so long it looks like they’re really making money!

Free-Market Analysis: Oh, boy … Boris (the “boy mayor”) is excited about the money he has made for Britain, though exactly what constitutes “Britain” we’re not quite sure. But Boris is convinced “Britain” will reap economic rewards for years.

Continue Reading at TheDailyBell.com…

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