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London Olympics’ Cost: 2012 vs. 1948

Written by Gary North on July 23, 2012

The cost of the 2012 Olympics will be at least £9.3 billion, or $14.5 billion. (1 pound = $1.56)

Originally, money from the private sector was to pay for the games, but as the 2008 financial crisis took hold the Olympic project was bailed out costing the British tax payer £5.9bn.

The latest government report has the cost of the games on target at £9.298bn of public sector funding package. However a recent public accounts committee report warned the full cost of the games could amount to about £11bn.

http://www.democraticunderground.com/101742961

Let us compare this with 1948. Cost: £70,000, or $280,000. (1 pound = $4)

Something fundamental has changed since 1948 regarding the importance of sports for culture. It is international as never before. It is central as never before. It absorbs a larger share of world economic output than ever before.

For photos of the 1948 Olympics, click the link.

Continue Reading on www.dailymail.co.uk

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3 thoughts on “London Olympics’ Cost: 2012 vs. 1948

  1. Don't know a single soul who plans watching the games. Might have been some who were interested back in the amateur days but they didn't include me. Monumental waste of money by any standard.

  2. […] London Olympics’ Cost: 2012 vs. 1948 The cost of the 2012 Olympics will be at least £9.3 billion, or $14.5 billion. (1 pound = $1.56) […]