Sunday, June 15, 2014

World Cup Economic Realities Hit Brazil

Know the best thing about the World Cup?

Writers across the world wake up to the fact that publicly-funded stadiums can leave global-sized holes in a country's economy:

  • Field of Schemes: $14 billion in stadia investments really only designed to capitalize on economy from the World Cup wont' get stadia done in time for World Cup.
  • Wall Street Journal: With stadia unfinished, hopes wane that World Cup spending could spur long-term growth.
  • John Oliver (HBO): The world's most-expensive bird toilet...oh, and FIFA doesn't have to pay taxes.
  • Field of Schemes: Amid World Cup awakening, cities pulling Olympics bids.

1 comment:

  1. "hopes wane that World Cup spending could spur long-term growth."

    This would imply that these venues actually were supposed to lead to a long-term economic boost both locally and nationally.

    Also allows the moneyed interests to keep the legitimacy of the "tax money needs to be used for stadiums" narrative by portraying Brazil as an unmitigated disaster which would not be replicated in the so-called "less corrupt" countries.