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Comments on: Olympic economics http://www.tvhe.co.nz/2012/08/10/olympic-economics/ The Visible Hand in Economics Mon, 13 Aug 2012 07:08:00 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rahul kumar http://www.tvhe.co.nz/2012/08/10/olympic-economics/#comment-39815 Mon, 13 Aug 2012 07:08:00 +0000 http://www.tvhe.co.nz/?p=7393#comment-39815 Since Rio is host to the next Olympics,

]]> By: jamesz http://www.tvhe.co.nz/2012/08/10/olympic-economics/#comment-39808 Thu, 09 Aug 2012 23:37:00 +0000 http://www.tvhe.co.nz/?p=7393#comment-39808 In reply to Mark Hubbard.

Ha, good stuff! I wonder what actually happens to their winnings, given that they’re heavily publicly funded.

]]> By: Mark Hubbard http://www.tvhe.co.nz/2012/08/10/olympic-economics/#comment-39807 Thu, 09 Aug 2012 20:17:00 +0000 http://www.tvhe.co.nz/?p=7393#comment-39807 You forgot to add tax policy. An academic, peer reviewed paper commissioned by the EU, and promulgated by Greens, Maori Party and Labour in New Zealand, and Obama in the US under the slogan ‘you did not really win that, society did’, showed that the winning of medals momentarily was able to lift the spirits of their depressed populaces, so a progressive tax was instituted on medalists in most Western jurisdictions, in the form of a 100% tax on advertising revenues for gold medalists for four years after winning, 50% tax on silver medalists, and 35% on bronze medalists. This tax was to be dedicated to fund the inception of sports academies in the schools, although in a controversy which later erupted was found to have mostly been used to prop up the consolidated fund. A massive 30% of the medalist taxes in Australia and New Zealand were found to have been spent on buying condoms for their teams in the games in Rio. In the mid 21st century games held in Cairo, African nations, where it was estimated 60% to 70% of medalists from Europe, US and Australasia had voluntarily tax exiled themselves to, won the biggest haul of gold medals of any continent in the history of the Olympics. Four marathon swimmers were eaten in the Nile.

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