Economics Professor Victor Matheson gets a mention in an article claiming that hosting the Olympic Games is a bad deal, at least financially, for the city that does so.

The Olympics means effectively closing the city down for other tourism, and even other economic activity for at least one month, says Victor Matheson, an economist at Williams College who has studied the Olympics phenomenon along with Robert Baade, a professor at Lake Forest College. Matheson says it’s unlikely any host cities have profited. Claims of job creation, he says, are generally overblown — and certainly were in the case of the 1996 Atlanta Games.

Most economists would probably agree with Matheson on this. Whether a similar sort of analysis would apply to other government funded projects — like MoCa — is a topic for another day.

Print  •  Email