In Part 1, I outlined the theoretical understanding and some of the evidence that underlie the economic decision to subsidise a mega-sports event. I concluded that, on balance, subsidising a mega-sport event such as the World Cup is ultimately a poor use of taxpayer money in terms of purely measurable economic indicators. The conventional wisdom that such a big public investment leads to “spill-over” benefits within the economy was dispelled, or at least put into serious doubt.
Soccernomics
If a neoliberal created a sporting league, it might look a bit like European soccer, writes Sam O’Connor.